Tejara Capital Ltd Invests $3.21 Million in Genesis Energy, L.P. (NYSE:GEL)

Tejara Capital Ltd bought a new position in Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, HoldingsChannel reports. The fund bought 317,036 shares of the pipeline company’s stock, valued at approximately $3,205,000. Genesis Energy comprises approximately 2.1% of Tejara Capital Ltd’s portfolio, making the stock its 18th largest holding.

Several other hedge funds also recently made changes to their positions in the company. Sowell Financial Services LLC grew its position in shares of Genesis Energy by 21.8% in the 4th quarter. Sowell Financial Services LLC now owns 92,401 shares of the pipeline company’s stock worth $934,000 after acquiring an additional 16,525 shares in the last quarter. BBR Partners LLC grew its position in shares of Genesis Energy by 20.9% in the 4th quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company’s stock worth $592,000 after acquiring an additional 10,122 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Genesis Energy in the 4th quarter worth approximately $943,000. Oppenheimer Asset Management Inc. grew its position in shares of Genesis Energy by 4.5% in 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, ING Groep NV boosted its position in Genesis Energy by 12.1% during the 4th 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. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Up 8.3 %

Shares of Genesis Energy stock opened at $14.35 on Tuesday. The business’s fifty day moving average price is $11.54 and its two-hundred day moving average price is $11.88. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The company has a market capitalization of $1.76 billion, a P/E ratio of -11.57 and a beta of 1.92. Genesis Energy, L.P. has a 1-year low of $9.86 and a 1-year high of $15.17.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The business had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, January 31st. Genesis Energy’s payout ratio is currently -53.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GEL shares. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday. Royal Bank of Canada boosted their price objective on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday.

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.