Jennison Associates LLC Buys Shares of 466,399 Genesis Energy, L.P. (NYSE:GEL)

Jennison Associates LLC purchased a new stake in shares of Genesis Energy, L.P. (NYSE:GEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 466,399 shares of the pipeline company’s stock, valued at approximately $5,401,000. Jennison Associates LLC owned 0.38% of Genesis Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GEL. Alps Advisors Inc. boosted its stake in Genesis Energy by 12.9% during the 3rd quarter. Alps Advisors Inc. now owns 18,765,802 shares of the pipeline company’s stock valued at $193,663,000 after purchasing an additional 2,141,538 shares during the period. Invesco Ltd. grew its position in Genesis Energy by 5.6% in the 3rd quarter. Invesco Ltd. now owns 17,421,425 shares of the pipeline company’s stock worth $179,789,000 after purchasing an additional 924,567 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Genesis Energy by 12.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,259,537 shares of the pipeline company’s stock worth $60,905,000 after purchasing an additional 587,429 shares during the last quarter. RR Advisors LLC grew its position in Genesis Energy by 2.3% in the 3rd quarter. RR Advisors LLC now owns 5,232,000 shares of the pipeline company’s stock worth $53,990,000 after purchasing an additional 119,000 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its position in Genesis Energy by 7.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,852,734 shares of the pipeline company’s stock worth $44,615,000 after purchasing an additional 279,836 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Genesis Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

Genesis Energy Price Performance

NYSE GEL opened at $12.36 on Friday. Genesis Energy, L.P. has a 52 week low of $8.05 and a 52 week high of $12.78. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 56.18 and a beta of 2.04. The company has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $11.55.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.31). The company had revenue of $774.10 million during the quarter. Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Monday, April 29th. Genesis Energy’s dividend payout ratio is currently 272.73%.

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.