Mutual Advisors LLC Increases Position in Genesis Energy, L.P. (NYSE:GEL)

Mutual Advisors LLC raised its position in shares of Genesis Energy, L.P. (NYSE:GEL) by 101.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,912 shares of the pipeline company’s stock after purchasing an additional 16,099 shares during the period. Mutual Advisors LLC’s holdings in Genesis Energy were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. ARS Investment Partners LLC boosted its stake in shares of Genesis Energy by 35.9% in the 4th quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company’s stock valued at $465,000 after purchasing an additional 12,154 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Genesis Energy by 0.4% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock valued at $38,776,000 after purchasing an additional 15,027 shares during the period. Stifel Financial Corp grew its holdings in shares of 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 purchasing an additional 1,819 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Genesis Energy in the third quarter worth approximately $59,000. Finally, Murchinson Ltd. purchased a new position in shares of Genesis Energy in the third quarter worth $1,005,000. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

GEL opened at $10.53 on Wednesday. The stock’s 50 day moving average price is $10.74 and its 200-day moving average price is $12.28. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $15.17. The stock has a market capitalization of $1.29 billion, a PE ratio of -14.22 and a beta of 2.14. 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 issued its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The company had revenue of $714.30 million for the quarter. During the same quarter in the prior year, the firm posted $0.29 earnings per share.

Genesis Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.165 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 6.27%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

Wall Street Analyst Weigh In

GEL has been the topic of a number of recent analyst reports. Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada raised their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th.

Genesis Energy Company 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.