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

Rangeley Capital LLC bought a new position in Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 211,000 shares of the pipeline company’s stock, valued at approximately $2,133,000. Genesis Energy accounts for 1.9% of Rangeley Capital LLC’s holdings, making the stock its 18th biggest holding. Rangeley Capital LLC owned 0.17% of Genesis Energy at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GEL. Captrust Financial Advisors grew its holdings in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 900 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Genesis Energy by 4.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after purchasing an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Genesis Energy in the third quarter worth approximately $59,000. Finally, BBR Partners LLC lifted its holdings in Genesis Energy by 20.9% during the fourth quarter. BBR Partners LLC now owns 58,583 shares of the pipeline company’s stock worth $592,000 after buying an additional 10,122 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Genesis Energy Price Performance

NYSE GEL opened at $15.94 on Thursday. Genesis Energy, L.P. has a 12-month low of $9.86 and a 12-month high of $16.44. The firm’s fifty day simple moving average is $12.76 and its two-hundred day simple moving average is $12.09. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The firm has a market capitalization of $1.95 billion, a P/E ratio of -12.85 and a beta of 1.92.

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 return on equity of 7.71% and a negative net margin of 2.16%.

Genesis Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is presently -53.23%.

Wall Street Analyst Weigh In

GEL has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Genesis Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

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.