Tejara Capital Ltd bought a new position in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 317,036 shares of the pipeline company's stock, valued at approximately $3,205,000. Genesis Energy accounts for about 2.1% of Tejara Capital Ltd's investment portfolio, making the stock its 18th largest position. Tejara Capital Ltd owned approximately 0.26% of Genesis Energy at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new position in Genesis Energy during the 3rd quarter worth approximately $59,000. Stifel Financial Corp boosted its stake in shares of Genesis Energy by 10.8% during 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 in the last quarter. Mutual Advisors LLC boosted its stake in shares of Genesis Energy by 101.8% during the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company's stock worth $341,000 after acquiring an additional 16,099 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock worth $369,000 after acquiring an additional 1,584 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company's stock worth $424,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. 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 note on Monday, March 17th. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $15.00 to $18.00 in a research note on Monday, March 17th.
View Our Latest Report on Genesis Energy
Genesis Energy Price Performance
GEL stock traded up $0.40 on Friday, reaching $15.45. The company had a trading volume of 3,398,561 shares, compared to its average volume of 457,983. Genesis Energy, L.P. has a 1 year low of $9.86 and a 1 year high of $15.48. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The company's fifty day moving average is $11.92 and its 200 day moving average is $11.94. The company has a market cap of $1.89 billion, a P/E ratio of -12.46 and a beta of 1.92.
Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The company had revenue of $725.55 million during the quarter.
Genesis Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy's dividend payout ratio is presently -53.23%.
About Genesis Energy
(
Free Report)
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.
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