Callodine Capital Management LP Buys 100,000 Shares of Genesis Energy, L.P. (NYSE:GEL)

Callodine Capital Management LP boosted its stake in Genesis Energy, L.P. (NYSE:GEL) by 40.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 350,000 shares of the pipeline company’s stock after purchasing an additional 100,000 shares during the period. Callodine Capital Management LP’s holdings in Genesis Energy were worth $3,538,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. F M Investments LLC bought a new stake in shares of Genesis Energy in the 4th quarter worth approximately $122,000. Stifel Financial Corp increased its position in Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of Genesis Energy by 101.8% in the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after buying an additional 16,099 shares during the period. Mariner LLC lifted its position in shares of Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after buying an additional 2,321 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after buying an additional 1,584 shares during the last quarter. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

Genesis Energy Price Performance

Shares of NYSE GEL opened at $14.14 on Friday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $16.44. The stock has a market cap of $1.73 billion, a PE ratio of -11.40 and a beta of 1.39. The stock has a fifty day moving average of $13.46 and a 200-day moving average of $12.12.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Wednesday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GEL shares. Royal Bank of Canada boosted their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 17th. Wells Fargo & Company raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $18.00 in a research report on Monday, March 17th.

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.