Genesis Energy, L.P. (NYSE:GEL) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lowered its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 69,200 shares of the pipeline company’s stock after selling 1,600 shares during the quarter. Pekin Hardy Strauss Inc. owned about 0.06% of Genesis Energy worth $925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEL. Creative Planning purchased a new position in shares of Genesis Energy during the 2nd quarter valued at about $43,591,000. Chickasaw Capital Management LLC raised its stake in shares of Genesis Energy by 6.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after buying an additional 262,784 shares during the last quarter. ING Groep NV raised its stake in shares of Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after buying an additional 100,000 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Genesis Energy during the 2nd quarter valued at about $1,073,000. Finally, ELCO Management Co. LLC raised its stake in shares of Genesis Energy by 10.7% during the 2nd quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock valued at $2,695,000 after buying an additional 18,170 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Price Performance

NYSE:GEL opened at $11.78 on Monday. Genesis Energy, L.P. has a 12 month low of $10.01 and a 12 month high of $15.17. The stock has a 50 day moving average of $12.61 and a two-hundred day moving average of $13.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The company had revenue of $714.30 million for the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same quarter in the prior year, the company posted $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.60%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy’s dividend payout ratio is -89.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st. StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their price target on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Company Profile

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.