Westwood Holdings Group Inc. Sells 2,192,534 Shares of Genesis Energy, L.P. $GEL

Westwood Holdings Group Inc. reduced its stake in Genesis Energy, L.P. (NYSE:GEL) by 98.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,531 shares of the pipeline company’s stock after selling 2,192,534 shares during the period. Westwood Holdings Group Inc.’s holdings in Genesis Energy were worth $543,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its holdings in shares of Genesis Energy by 42.9% during the second quarter. Cetera Investment Advisers now owns 17,543 shares of the pipeline company’s stock worth $302,000 after buying an additional 5,267 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in Genesis Energy in the 2nd quarter worth about $353,000. Claro Advisors LLC bought a new stake in Genesis Energy in the 2nd quarter valued at about $439,000. Bank of Montreal Can bought a new stake in Genesis Energy in the 2nd quarter valued at about $251,000. Finally, ELCO Management Co. LLC grew its position in shares of Genesis Energy by 1.0% during the 2nd quarter. ELCO Management Co. LLC now owns 189,626 shares of the pipeline company’s stock worth $3,267,000 after purchasing an additional 1,960 shares in the last quarter. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Trading Up 1.5%

Shares of GEL opened at $16.05 on Monday. The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $17.77. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -3.16 and a beta of 1.14. The business’s fifty day moving average is $16.04 and its 200-day moving average is $16.29.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.18). The business had revenue of $414.00 million during the quarter. Genesis Energy had a negative net margin of 24.19% and a negative return on equity of 24.47%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, October 31st. Genesis Energy’s dividend payout ratio is -13.72%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GEL shares. Royal Bank Of Canada boosted their price target on Genesis Energy from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Wall Street Zen raised Genesis Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genesis Energy in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on Genesis Energy from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

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.