JPMorgan Chase & Co. Has $64.10 Million Stock Position in Genesis Energy, L.P. $GEL

JPMorgan Chase & Co. reduced its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 21.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,836,094 shares of the pipeline company’s stock after selling 1,047,618 shares during the quarter. JPMorgan Chase & Co.’s holdings in Genesis Energy were worth $64,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. bought a new position in shares of Genesis Energy during the 3rd quarter worth about $30,000. Geneos Wealth Management Inc. bought a new stake in shares of Genesis Energy in the second quarter valued at about $49,000. CWM LLC grew its position in Genesis Energy by 126.5% during the third quarter. CWM LLC now owns 3,106 shares of the pipeline company’s stock worth $52,000 after buying an additional 1,735 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Genesis Energy during the first quarter valued at about $108,000. Finally, Osaic Holdings Inc. raised its holdings in Genesis Energy by 91.4% in the 2nd quarter. Osaic Holdings Inc. now owns 7,706 shares of the pipeline company’s stock valued at $133,000 after acquiring an additional 3,680 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on GEL shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Genesis Energy in a report on Thursday, January 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Genesis Energy in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Genesis Energy Trading Down 2.0%

GEL stock opened at $17.68 on Wednesday. Genesis Energy, L.P. has a 1-year low of $11.76 and a 1-year high of $18.16. The firm has a market cap of $2.17 billion, a P/E ratio of -4.22 and a beta of 0.84. The business’s 50 day moving average is $16.61 and its 200-day moving average is $16.29. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 19.59.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, February 12th. The pipeline company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.24). The company had revenue of $440.76 million for the quarter. Genesis Energy had a negative return on equity of 10.04% and a negative net margin of 27.01%.Genesis Energy’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.58) EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.18 dividend. The ex-dividend date was Friday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 4.1%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.17. Genesis Energy’s dividend payout ratio is presently -17.18%.

About Genesis Energy

Genesis Energy LP (NYSE: GEL) is a publicly traded master limited partnership headquartered in Houston, Texas, that owns and operates a diversified portfolio of energy infrastructure assets in the United States. The company’s primary focus is on the transportation, storage and delivery of refined petroleum products, serving major domestic markets across the Gulf Coast, Atlantic Seaboard and inland waterway systems.

Genesis Energy’s operations are organized into several key business segments.