Credit Suisse AG Lowers Stake in Genesis Energy, L.P. (GEL)

Credit Suisse AG lowered its holdings in Genesis Energy, L.P. (NYSE:GEL) by 40.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,773 shares of the pipeline company’s stock after selling 17,098 shares during the quarter. Credit Suisse AG’s holdings in Genesis Energy were worth $589,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Alps Advisors Inc. grew its stake in Genesis Energy by 6.5% during the third quarter. Alps Advisors Inc. now owns 9,652,224 shares of the pipeline company’s stock valued at $229,530,000 after acquiring an additional 584,953 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Genesis Energy by 2.7% during the third quarter. JPMorgan Chase & Co. now owns 2,916,593 shares of the pipeline company’s stock valued at $69,356,000 after acquiring an additional 77,911 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Genesis Energy by 16.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,394,746 shares of the pipeline company’s stock valued at $56,947,000 after acquiring an additional 346,917 shares in the last quarter. Global X Management Co LLC grew its stake in Genesis Energy by 22.3% during the second quarter. Global X Management Co LLC now owns 1,495,822 shares of the pipeline company’s stock valued at $32,773,000 after acquiring an additional 272,490 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Genesis Energy by 20.5% during the third quarter. BlackRock Inc. now owns 1,170,357 shares of the pipeline company’s stock valued at $27,831,000 after acquiring an additional 199,040 shares in the last quarter. 74.85% of the stock is owned by institutional investors.

Shares of NYSE:GEL opened at $21.08 on Friday. The company has a market cap of $2.68 billion, a P/E ratio of 19.89 and a beta of 1.23. Genesis Energy, L.P. has a 12 month low of $17.55 and a 12 month high of $25.87. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.77 and a quick ratio of 1.57.



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 Zacks’ consensus estimate of $0.20 by ($0.35). Genesis Energy had a return on equity of 5.92% and a net margin of 1.16%. The company had revenue of $745.30 million during the quarter, compared to analysts’ expectations of $736.85 million. During the same period in the prior year, the firm earned $0.01 EPS. Genesis Energy’s quarterly revenue was up 53.3% on a year-over-year basis. As a group, equities research analysts anticipate that Genesis Energy, L.P. will post -0.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 10.44%. The ex-dividend date is Wednesday, January 30th. This is a boost from Genesis Energy’s previous quarterly dividend of $0.54. Genesis Energy’s payout ratio is currently 203.77%.

In related news, VP Chad Anthony Landry purchased 10,000 shares of the business’s stock in a transaction on Tuesday, December 18th. The stock was acquired at an average price of $19.75 per share, with a total value of $197,500.00. Following the purchase, the vice president now directly owns 20,000 shares in the company, valued at $395,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Several equities analysts recently commented on GEL shares. Royal Bank of Canada raised shares of Genesis Energy from a “sector perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Friday, November 2nd. Zacks Investment Research raised shares of Genesis Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine raised shares of Genesis Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 15th. Barclays reduced their price objective on shares of Genesis Energy from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 2nd. Finally, Robert W. Baird reduced their price objective on shares of Genesis Energy from $26.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $27.75.

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About Genesis Energy

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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Institutional Ownership by Quarter for Genesis Energy (NYSE:GEL)

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