Chickasaw Capital Management LLC Lowers Position in Genesis Energy, L.P. $GEL

Chickasaw Capital Management LLC lowered its stake in shares of Genesis Energy, L.P. (NYSE:GEL) by 19.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,845,825 shares of the pipeline company’s stock after selling 705,589 shares during the period. Genesis Energy accounts for approximately 1.9% of Chickasaw Capital Management LLC’s portfolio, making the stock its 10th largest holding. Chickasaw Capital Management LLC owned 2.32% of Genesis Energy worth $47,554,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Genesis Energy by 28.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company’s stock valued at $87,911,000 after purchasing an additional 1,257,712 shares during the period. Callodine Capital Management LP grew its holdings in Genesis Energy by 28.6% during the 1st quarter. Callodine Capital Management LP now owns 450,000 shares of the pipeline company’s stock valued at $7,060,000 after buying an additional 100,000 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in Genesis Energy by 20.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,488,590 shares of the pipeline company’s stock valued at $25,648,000 after buying an additional 256,186 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Genesis Energy during the first quarter valued at about $193,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Genesis Energy by 21.6% in the second quarter. Envestnet Asset Management Inc. now owns 100,652 shares of the pipeline company’s stock worth $1,734,000 after buying an additional 17,857 shares in the last quarter. 66.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GEL shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Genesis Energy in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genesis Energy in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Genesis Energy has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Genesis Energy Price Performance

Shares of NYSE:GEL opened at $15.56 on Thursday. The company’s fifty day moving average price is $15.64 and its 200-day moving average price is $16.35. The company has a debt-to-equity ratio of 19.90, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -3.24 and a beta of 0.82. Genesis Energy, L.P. has a one year low of $9.86 and a one year high of $17.77.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, October 30th. The pipeline company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.18). The company had revenue of $414.00 million during the quarter. Genesis Energy had a negative return on equity of 28.39% and a negative net margin of 26.61%.The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) EPS.

Genesis Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, October 31st. Genesis Energy’s dividend payout ratio is presently -13.72%.

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.