Genesis Energy, L.P. $GEL Shares Sold by Chickasaw Capital Management LLC

Key Points

• Chickasaw Capital Management LLC reduced its stake in Genesis Energy, L.P. by 4.7%, owning 3,551,414 shares after selling 176,918 shares in the second quarter.
• Genesis Energy missed analysts' EPS estimates for the last quarter, reporting a loss of ($0.12) per share, with revenues down 12.3% year-over-year.
• Wall Street analysts have generally upgraded their outlook on Genesis Energy, with a consensus price target of $19.50 and three analysts rating it as a "Buy."

Chickasaw Capital Management LLC decreased its holdings in shares of Genesis Energy, L.P. (NYSE:GEL - Free Report) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,551,414 shares of the pipeline company's stock after selling 176,918 shares during the period. Genesis Energy makes up about 2.4% of Chickasaw Capital Management LLC's holdings, making the stock its 10th biggest position. Chickasaw Capital Management LLC owned approximately 2.90% of Genesis Energy worth $61,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Genesis Energy by 16.6% during the 1st quarter. Alps Advisors Inc. now owns 24,020,175 shares of the pipeline company's stock worth $376,877,000 after purchasing an additional 3,422,967 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Genesis Energy by 411.6% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 110,658 shares of the pipeline company's stock worth $1,736,000 after acquiring an additional 89,029 shares during the period. Miller Howard Investments Inc. NY acquired a new stake in shares of Genesis Energy in the 1st quarter worth approximately $19,336,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Genesis Energy by 28.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,603,020 shares of the pipeline company's stock worth $87,911,000 after acquiring an additional 1,257,712 shares during the period. Finally, Manning & Napier Advisors LLC grew its holdings in shares of Genesis Energy by 28.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 450,000 shares of the pipeline company's stock worth $7,060,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Trading Down 1.4%

Shares of Genesis Energy stock traded down $0.23 during trading hours on Friday, reaching $16.56. 377,648 shares of the company's stock were exchanged, compared to its average volume of 447,126. Genesis Energy, L.P. has a 52-week low of $9.86 and a 52-week high of $17.77. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -3.26 and a beta of 1.22. The company has a fifty day moving average of $16.78 and a 200-day moving average of $15.74. The company has a current ratio of 0.94, a quick ratio of 0.85 and a debt-to-equity ratio of 18.85.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). Genesis Energy had a negative return on equity of 24.47% and a negative net margin of 24.19%.The business had revenue of $377.35 million for the quarter. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The firm's revenue for the quarter was down 12.3% on a year-over-year basis.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is -12.99%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEL shares. Wells Fargo & Company upped their price target on Genesis Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Genesis Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Royal Bank Of Canada upped their price target on Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $19.50.

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.