As Genesis Energy LP (GEL) Stock Rose, Chickasaw Capital Management LLC Has Lifted Its Stake by $17.74 Million

September 16, 2018 - By Michele Cranor

Genesis Energy, L.P. (NYSE:GEL) LogoInvestors sentiment increased to 0.93 in Q2 2018. Its up 0.03, from 0.9 in 2018Q1. It increased, as 17 investors sold GEL shares while 40 reduced holdings. 20 funds opened positions while 33 raised stakes. 86.56 million shares or 0.75% more from 85.91 million shares in 2018Q1 were reported. The New York-based Clearbridge Invs Ltd Co has invested 0.18% in Genesis Energy, L.P. (NYSE:GEL). Creative Planning owns 0.01% invested in Genesis Energy, L.P. (NYSE:GEL) for 136,269 shares. Neuberger Berman Group Ltd invested in 0.02% or 809,030 shares. Deutsche Savings Bank Ag stated it has 575,887 shares. Estabrook Mngmt holds 0% or 1,100 shares. The California-based Wells Fargo Communication Mn has invested 0% in Genesis Energy, L.P. (NYSE:GEL). Tower Rech Lc (Trc) invested in 50 shares or 0% of the stock. Bbr Prns Lc owns 18,000 shares. Bnp Paribas Arbitrage Sa accumulated 12,937 shares or 0% of the stock. State Of New Jersey Common Pension Fund D owns 248,926 shares. Pinnacle Holdg Ltd Liability Corporation reported 0% in Genesis Energy, L.P. (NYSE:GEL). Janney Montgomery Scott Limited Liability Corp reported 53,101 shares stake. Kayne Anderson Cap Advsrs Lp accumulated 243,300 shares or 0.07% of the stock. Rr Advsr Limited Com holds 2.60M shares. Fifth Third Commercial Bank reported 563 shares.

Since September 5, 2018, it had 1 insider buy, and 0 sales for $30,015 activity.

Chickasaw Capital Management Llc increased its stake in Genesis Energy Lp (GEL) by 6.79% based on its latest 2018Q2 regulatory filing with the SEC. Chickasaw Capital Management Llc bought 844,823 shares as the company’s stock rose 9.13% with the market. The hedge fund held 13.29 million shares of the energy company at the end of 2018Q2, valued at $291.28M, up from 12.45M at the end of the previous reported quarter. Chickasaw Capital Management Llc who had been investing in Genesis Energy Lp for a number of months, seems to be bullish on the $3.06B market cap company. The stock decreased 0.52% or $0.13 during the last trading session, reaching $25. About 1.04 million shares traded or 54.27% up from the average. Genesis Energy, L.P. (NYSE:GEL) has declined 7.11% since September 16, 2017 and is downtrending. It has underperformed by 22.73% the S&P500.

Chickasaw Capital Management Llc, which manages about $1.93B and $4.75 billion US Long portfolio, decreased its stake in Targa Resources Corp (NYSE:TRGP) by 367,185 shares to 7.76M shares, valued at $384.07 million in 2018Q2, according to the filing. It also reduced its holding in Enterprise Products Partners L (NYSE:EPD) by 738,890 shares in the quarter, leaving it with 13.44 million shares, and cut its stake in Enlink Midstream Llc (NYSE:ENLC).

More news for Genesis Energy, L.P. (NYSE:GEL) were recently published by: Newsok.com, which released: “Genesis Alkali Raises Soda Ash Prices” on September 13, 2018. Seekingalpha.com‘s article titled: “Q2 ’18 Recap And The Barbell Profile Of MLP Distribution Growth” and published on August 22, 2018 is yet another important article.

Genesis Energy, L.P. (NYSE:GEL) Ratings Coverage

Among 3 analysts covering Genesis Energy (NYSE:GEL), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Genesis Energy had 4 analyst reports since April 17, 2018 according to SRatingsIntel. Barclays Capital maintained it with “Equal-Weight” rating and $23 target in Tuesday, April 17 report. Barclays Capital maintained the shares of GEL in report on Wednesday, July 11 with “Equal-Weight” rating. Robert W. Baird downgraded the shares of GEL in report on Tuesday, September 4 to “Neutral” rating. The stock of Genesis Energy, L.P. (NYSE:GEL) earned “Buy” rating by UBS on Thursday, August 30.

Genesis Energy, L.P. (NYSE:GEL) Institutional Positions Chart

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