Custom Index Systems LLC Sells 28,293 Shares of Genesis Energy, L.P. (NYSE:GEL)

Custom Index Systems LLC trimmed its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,278 shares of the pipeline company’s stock after selling 28,293 shares during the quarter. Custom Index Systems LLC owned approximately 0.07% of Genesis Energy worth $1,194,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Axiom Advisory LLC raised its stake in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 794 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after purchasing an additional 887 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Genesis Energy by 1.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after purchasing an additional 1,286 shares during the last quarter. Pettinga Financial Advisors LLC boosted its stake in Genesis Energy by 9.9% in the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Genesis Energy by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after purchasing an additional 2,625 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

GEL traded down $0.01 on Friday, reaching $12.97. The stock had a trading volume of 331,279 shares, compared to its average volume of 260,435. The business’s 50-day moving average price is $13.28 and its two-hundred day moving average price is $13.24. The company has a market cap of $1.59 billion, a P/E ratio of -99.76 and a beta of 2.10. Genesis Energy, L.P. has a 12-month low of $10.01 and a 12-month high of $15.17. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The business had revenue of $756.26 million during the quarter. During the same period last year, the firm earned $0.22 earnings per share.

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.165 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a yield of 5.09%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently -461.50%.

Analyst Ratings Changes

Several research firms have recently commented on GEL. Royal Bank of Canada lifted their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com downgraded Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Insider Buying and Selling

In related news, VP Garland G. Gaspard bought 2,261 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by insiders.

About Genesis Energy

Genesis Energy, L.P. provides integrated suite of midstream services in crude oil and natural gas industry in the United States. It operates through Offshore Pipeline Transportation, Soda and Sulfur Services, Marine Transportation, and Onshore Facilities and Transportation segments. The Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations, as well as deep water pipeline servicing.