Jennison Associates LLC Invests $5.40 Million in Genesis Energy, L.P. (NYSE:GEL)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in Genesis Energy during the fourth quarter valued at approximately $46,000. CWM LLC grew its position in Genesis Energy by 847.0% in the third quarter. CWM LLC now owns 7,718 shares of the pipeline company’s stock valued at $80,000 after acquiring an additional 6,903 shares during the period. Van ECK Associates Corp raised its stake in Genesis Energy by 26.6% during the third quarter. Van ECK Associates Corp now owns 12,491 shares of the pipeline company’s stock worth $129,000 after acquiring an additional 2,622 shares in the last quarter. Nordwand Advisors LLC bought a new position in shares of Genesis Energy during the third quarter valued at $186,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Genesis Energy by 42.8% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 19,700 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Performance

NYSE:GEL opened at $12.36 on Friday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 56.18 and a beta of 2.04. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 4.18. Genesis Energy, L.P. has a 1 year low of $8.05 and a 1 year high of $12.78. The firm has a 50 day moving average of $11.44 and a 200-day moving average of $11.55.

Genesis Energy (NYSE:GEL) last released 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 business had revenue of $774.10 million for the quarter. Genesis Energy had a net margin of 3.71% and a return on equity of 13.34%. Genesis Energy’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share.

Genesis Energy Announces Dividend

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

Wall Street Analyst Weigh In

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

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.