RR Advisors LLC Has $39.48 Million Stake in Genesis Energy, L.P. $GEL

Key Points

• RR Advisors LLC reduced its stake in Genesis Energy, L.P. by 34.5%, owning 2.5 million shares valued at $39.48 million, making it the firm's fourth-largest position.
• Several institutional investors increased their holdings in Genesis Energy, with Alps Advisors Inc. raising its position by 16.6%, bringing their total to approximately $376.88 million.
• Genesis Energy reported a quarterly EPS of ($0.12), missing expectations, while also declaring a quarterly dividend of $0.165.

RR Advisors LLC lessened its holdings in Genesis Energy, L.P. (NYSE:GEL - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,516,000 shares of the pipeline company's stock after selling 1,328,000 shares during the quarter. Genesis Energy accounts for approximately 9.4% of RR Advisors LLC's holdings, making the stock its 4th biggest holding. RR Advisors LLC owned approximately 2.05% of Genesis Energy worth $39,478,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sowell Financial Services LLC raised its holdings in shares of Genesis Energy by 1.4% in the 1st quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock worth $1,469,000 after buying an additional 1,250 shares in the last quarter. Mariner LLC boosted its stake in Genesis Energy by 7.0% in the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after buying an additional 2,321 shares in the last quarter. Arrow Investment Advisors LLC grew its position in Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock valued at $215,000 after acquiring an additional 2,381 shares during the period. Maryland State Retirement & Pension System raised its stake in Genesis Energy by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 94,480 shares of the pipeline company's stock worth $1,482,000 after acquiring an additional 2,585 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Genesis Energy by 6.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock valued at $488,000 after acquiring an additional 2,717 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Trading Up 0.2%

Genesis Energy stock traded up $0.04 during trading hours on Wednesday, reaching $17.22. 163,548 shares of the company's stock traded hands, compared to its average volume of 575,025. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.39 and a beta of 1.09. The company has a debt-to-equity ratio of 18.85, a quick ratio of 0.85 and a current ratio of 0.94. Genesis Energy, L.P. has a fifty-two week low of $9.86 and a fifty-two week high of $17.77. The firm's 50 day moving average is $16.90 and its 200-day moving average is $14.96.

Genesis Energy (NYSE:GEL - Get Free Report) last posted 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 period last year, the business posted ($0.25) earnings per share. Genesis Energy's revenue was down 12.3% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, July 31st. Genesis Energy's dividend payout ratio (DPR) is currently -12.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on GEL. Wells Fargo & Company upped their target price on shares of 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 shares of Genesis Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Royal Bank Of Canada raised their price objective on shares of Genesis Energy from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Genesis Energy presently has a consensus rating of "Buy" and a consensus target price 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.