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

Tejara Capital Ltd purchased a new position in Genesis Energy, L.P. (NYSE:GEL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 holdings, making the stock its 18th largest position. Tejara Capital Ltd owned 0.26% of Genesis Energy at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp acquired a new stake in Genesis Energy in the 3rd quarter worth about $59,000. Stifel Financial Corp boosted its stake in Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after purchasing an additional 900 shares during the period. Mutual Advisors LLC raised its holdings in shares of Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after purchasing an additional 16,099 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings 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 purchasing an additional 1,584 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Genesis Energy Stock Performance

Shares of NYSE:GEL opened at $14.35 on Tuesday. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. Genesis Energy, L.P. has a one year low of $9.86 and a one year high of $15.17. The business’s 50-day simple moving average is $11.54 and its 200 day simple moving average is $11.88. The company has a market cap of $1.76 billion, a P/E ratio of -11.57 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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 4.60%. Genesis Energy’s dividend payout ratio is presently -53.23%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $15.00 to $18.00 in a report on Monday. Royal Bank of Canada raised their target price on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Monday.

About Genesis Energy

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.