Van ECK Associates Corp Decreases Holdings in Genesis Energy, L.P. (NYSE:GEL)

Van ECK Associates Corp trimmed its holdings in Genesis Energy, L.P. (NYSE:GEL) by 10.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,684 shares of the pipeline company’s stock after selling 2,093 shares during the period. Van ECK Associates Corp’s holdings in Genesis Energy were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Axiom Advisory LLC increased its position in Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after purchasing an additional 794 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Genesis Energy by 2.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after purchasing an additional 887 shares during the last quarter. Custom Index Systems LLC increased its position in Genesis Energy by 0.9% during the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock worth $1,682,000 after purchasing an additional 1,041 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Genesis Energy by 1.0% during the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after purchasing an additional 1,286 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Genesis Energy by 40.9% during the second quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock worth $443,000 after purchasing an additional 8,984 shares during the last quarter. 66.82% of the stock is currently owned by institutional investors and hedge funds.

Genesis Energy Trading Up 3.5 %

Shares of GEL stock opened at $11.17 on Thursday. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm has a market cap of $1.37 billion, a PE ratio of -15.09 and a beta of 2.12. The company has a 50-day moving average of $12.78 and a two-hundred day moving average of $13.21. Genesis Energy, L.P. has a 1-year low of $10.01 and a 1-year high of $15.17.

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

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.165 dividend. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.66 annualized dividend and a dividend yield of 5.91%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

Analyst Upgrades and Downgrades

GEL has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Finally, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st.

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.