Genesis Energy, L.P. (NYSE:GEL) Shares Acquired by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC increased its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,835,449 shares of the pipeline company’s stock after buying an additional 15,027 shares during the quarter. Genesis Energy accounts for about 1.6% of Chickasaw Capital Management LLC’s holdings, making the stock its 12th biggest position. Chickasaw Capital Management LLC’s holdings in Genesis Energy were worth $38,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GEL. Millburn Ridgefield Corp purchased a new position in shares of Genesis Energy during the third quarter worth about $59,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Genesis Energy during the third quarter worth approximately $139,000. Stifel Financial Corp lifted its holdings in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 1,819 shares during the period. Van ECK Associates Corp grew its position in Genesis Energy by 17.4% in the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after buying an additional 3,073 shares during the last quarter. Finally, Axiom Advisory LLC raised its position in Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after buying an additional 794 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Trading Down 0.3 %

Shares of GEL stock traded down $0.03 during mid-day trading on Tuesday, reaching $10.48. The company’s stock had a trading volume of 203,063 shares, compared to its average volume of 550,145. The company’s 50 day simple moving average is $11.08 and its 200-day simple moving average is $12.70. The firm has a market capitalization of $1.28 billion, a PE ratio of -14.16 and a beta of 2.14. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $15.17. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business 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 previous year, the company earned $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.165 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.66 annualized dividend and a yield of 6.30%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently -89.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target 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. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy 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.