SG Americas Securities LLC Has $1.41 Million Holdings in Genesis Energy, L.P. (GEL)
SG Americas Securities LLC lessened its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 8.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,227 shares of the pipeline company’s stock after selling 5,648 shares during the period. SG Americas Securities LLC’s holdings in Genesis Energy were worth $1,408,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its position in shares of Genesis Energy by 5.8% during the 2nd quarter. Alps Advisors Inc. now owns 9,067,271 shares of the pipeline company’s stock worth $198,664,000 after buying an additional 498,557 shares during the last quarter. Tortoise Index Solutions LLC lifted its position in shares of Genesis Energy by 16.3% during the 2nd quarter. Tortoise Index Solutions LLC now owns 15,972 shares of the pipeline company’s stock worth $350,000 after buying an additional 2,233 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Genesis Energy by 3.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 16,689,722 shares of the pipeline company’s stock worth $365,672,000 after buying an additional 498,828 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Genesis Energy by 13.1% during the 3rd quarter. Bank of Montreal Can now owns 132,291 shares of the pipeline company’s stock worth $3,146,000 after buying an additional 15,291 shares during the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new stake in shares of Genesis Energy during the 3rd quarter worth approximately $1,750,000. Institutional investors own 75.09% of the company’s stock.
GEL has been the subject of several research reports. ValuEngine upgraded shares of Genesis Energy from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded shares of Genesis Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, August 10th. Raymond James reiterated a “buy” rating on shares of Genesis Energy in a research report on Monday, August 13th. Barclays upped their price target on shares of Genesis Energy from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, October 12th. Finally, UBS Group upped their price target on shares of Genesis Energy from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, August 30th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.60.
Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, November 1st. The pipeline company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.35). Genesis Energy had a net margin of 1.16% and a return on equity of 5.92%. The business had revenue of $745.30 million during the quarter, compared to analysts’ expectations of $736.85 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 53.3% compared to the same quarter last year. On average, equities research analysts forecast that Genesis Energy, L.P. will post -0.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were given a $0.54 dividend. This is an increase from Genesis Energy’s previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, October 30th. This represents a $2.16 annualized dividend and a yield of 9.60%. Genesis Energy’s dividend payout ratio is 203.77%.
Genesis Energy Company Profile
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep-water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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