Rangeley Capital LLC Purchases Shares of 211,000 Genesis Energy, L.P. (NYSE:GEL)

Rangeley Capital LLC acquired a new position in Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 211,000 shares of the pipeline company’s stock, valued at approximately $2,133,000. Genesis Energy comprises 1.9% of Rangeley Capital LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEL. JPMorgan Chase & Co. raised its position in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock worth $47,169,000 after buying an additional 418,555 shares during the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Genesis Energy by 0.4% during the fourth quarter. Chickasaw Capital Management LLC now owns 3,835,449 shares of the pipeline company’s stock worth $38,776,000 after purchasing an additional 15,027 shares during the last quarter. ING Groep NV boosted 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 last quarter. Manning & Napier Advisors LLC grew its position in Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after purchasing an additional 100,000 shares during the period. Finally, Tejara Capital Ltd purchased a new position in shares of Genesis Energy during the 4th quarter valued at about $3,205,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GEL. Royal Bank of Canada upped their target price 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 shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $15.00 to $18.00 in a research note on Monday, March 17th.

Genesis Energy Trading Up 0.8 %

GEL stock opened at $15.94 on Thursday. 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 52-week low of $9.86 and a 52-week high of $16.44. The company’s 50-day simple moving average is $12.76 and its 200-day simple moving average is $12.09. The firm has a market cap of $1.95 billion, a P/E ratio of -12.85 and a beta of 1.92.

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

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.165 per share. The ex-dividend date was Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.14%. Genesis Energy’s payout ratio is currently -53.23%.

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.