Chickasaw Capital Management LLC Has $38.78 Million Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Chickasaw Capital Management LLC increased its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,835,449 shares of the pipeline company’s stock after buying an additional 15,027 shares during the period. Genesis Energy accounts for about 1.6% of Chickasaw Capital Management LLC’s portfolio, making the stock its 12th largest holding. Chickasaw Capital Management LLC owned 3.13% of Genesis Energy worth $38,776,000 as of its most recent filing with the SEC.

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

Genesis Energy Trading Down 0.3 %

Shares of NYSE GEL traded down $0.03 during mid-day trading on Tuesday, hitting $10.48. The stock had a trading volume of 203,063 shares, compared to its average volume of 550,145. The firm has a market cap of $1.28 billion, a P/E ratio of -14.16 and a beta of 2.14. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $15.17. The business has a 50 day moving average price of $11.08 and a two-hundred day moving average price of $12.70. 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 (NYSE:GEL) last released its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The firm had revenue of $714.30 million during the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the previous year, the firm posted $0.29 EPS.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.165 dividend. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.30%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEL. Royal Bank of Canada raised their target price on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note 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.