Mariner LLC Has $359,000 Position in Genesis Energy, L.P. (NYSE:GEL)

Mariner LLC lifted its holdings in shares of Genesis Energy, L.P. (NYSE:GEL) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,488 shares of the pipeline company’s stock after buying an additional 2,321 shares during the period. Mariner LLC’s holdings in Genesis Energy were worth $359,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GEL. F M Investments LLC acquired a new position in Genesis Energy during the fourth quarter valued at approximately $122,000. Mutual Advisors LLC boosted its holdings in shares of Genesis Energy by 101.8% in the 4th 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 last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Genesis Energy by 4.5% in the fourth 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 in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Genesis Energy during the fourth quarter worth $404,000. Finally, ARS Investment Partners LLC raised its position in Genesis Energy by 35.9% during the fourth quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company’s stock worth $465,000 after acquiring an additional 12,154 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

NYSE:GEL opened at $14.05 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of -11.33 and a beta of 1.39. The firm’s fifty day moving average price is $13.95 and its two-hundred day moving average price is $12.15. Genesis Energy, L.P. has a one year low of $9.86 and a one year high of $16.44. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91.

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

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.70%. Genesis Energy’s dividend payout ratio (DPR) is currently -53.23%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada boosted their price target on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating 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.