Chickasaw Capital Management LLC Sells 471,077 Shares of Genesis Energy, L.P. (NYSE:GEL)

Chickasaw Capital Management LLC reduced its stake in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,820,422 shares of the pipeline company's stock after selling 471,077 shares during the quarter. Genesis Energy accounts for 2.2% of Chickasaw Capital Management LLC's portfolio, making the stock its 12th largest position. Chickasaw Capital Management LLC owned about 3.12% of Genesis Energy worth $51,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEL. Goldman Sachs Group Inc. raised its stake in shares of Genesis Energy by 9.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company's stock valued at $24,743,000 after acquiring an additional 189,610 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Genesis Energy during the first quarter worth $55,000. Sanders Morris Harris LLC acquired a new stake in shares of Genesis Energy in the first quarter valued at $1,372,000. Pettinga Financial Advisors LLC increased its stake in shares of Genesis Energy by 9.9% in the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company's stock valued at $248,000 after buying an additional 2,000 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in shares of Genesis Energy by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company's stock valued at $1,117,000 after buying an additional 2,625 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Insider Activity at Genesis Energy

In related news, VP Garland G. Gaspard bought 2,261 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the acquisition, the vice president now owns 19,525 shares of the company's stock, valued at approximately $259,096.75. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 5th.

Genesis Energy Trading Down 0.7 %

NYSE GEL traded down $0.10 on Friday, reaching $13.57. The company had a trading volume of 158,871 shares, compared to its average volume of 359,102. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74. Genesis Energy, L.P. has a 52 week low of $10.01 and a 52 week high of $15.17. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -104.38 and a beta of 2.10. The stock's 50 day moving average is $13.29 and its 200-day moving average is $13.12.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.22). The firm had revenue of $756.26 million during the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same period in the prior year, the company posted $0.22 EPS.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Thursday, October 31st. This is a boost from Genesis Energy's previous quarterly dividend of $0.15. Genesis Energy's payout ratio is -461.50%.

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.