Chickasaw Capital Management LLC Has $58.50 Million Stock Holdings in Genesis Energy, L.P. (NYSE:GEL)

Chickasaw Capital Management LLC lessened its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,728,332 shares of the pipeline company's stock after selling 107,117 shares during the period. Genesis Energy accounts for approximately 2.3% of Chickasaw Capital Management LLC's portfolio, making the stock its 10th largest holding. Chickasaw Capital Management LLC owned approximately 3.04% of Genesis Energy worth $58,498,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. ING Groep NV grew its holdings in Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company's stock valued at $8,644,000 after purchasing an additional 92,300 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company's stock valued at $47,169,000 after buying an additional 418,555 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Genesis Energy during the 4th quarter worth $404,000. Concurrent Investment Advisors LLC purchased a new position in shares of Genesis Energy in the 4th quarter worth $920,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Genesis Energy in the 4th quarter worth $943,000. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Stock Down 0.4%

Shares of NYSE GEL traded down $0.06 on Thursday, hitting $15.52. The company had a trading volume of 302,703 shares, compared to its average volume of 490,385. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $16.79. The firm has a market capitalization of $1.90 billion, a P/E ratio of -12.52 and a beta of 1.03. The business has a 50 day moving average of $14.57 and a two-hundred day moving average of $12.67.

Genesis Energy (NYSE:GEL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The pipeline company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.37). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The firm had revenue of $398.31 million during the quarter. During the same period last year, the business earned ($0.09) earnings per share. The firm's quarterly revenue was down 8.3% compared to the same quarter last year.

Genesis Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Wednesday, April 30th. Genesis Energy's dividend payout ratio (DPR) is -12.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada upped 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 upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday, March 17th. Finally, Wall Street Zen cut shares of Genesis Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

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.