13. Genesis Energy, L.P. (NYSE:GEL)
Number of Hedge Fund Holders: 5
Genesis Energy, L.P. (NYSE:GEL) is included in our list of the 20 largest MLPs.
On March 4, 2026, Genesis Energy, L.P. (NYSE:GEL) entered into a new $900 million senior secured revolving credit facility, expandable to $1.3 billion. The new facility, with a maturity in March 2031, replaces the previous agreement and provides a long-term capital backstop. Featuring variable pricing based on leverage ratios, the new agreement is secured by substantial asset liens. With this agreement, Genesis Energy, L.P. (NYSE:GEL) also improves its financial capabilities for future investment by extending its debt tenor and securing flexible borrowing options. This further ensures a stable access to bank funding.
Previously, on February 18, 2026, Genesis Energy, L.P. (NYSE:GEL) announced entering into an agreement for a registered public offering of $750 million of 6.750% senior unsecured notes. The notes, due 2034, were expected to generate net proceeds of approximately $737 million. Genesis Energy, L.P. (NYSE:GEL) intended to use the proceeds for purchasing or redeeming its outstanding 7.75% senior notes due 2028, as well as to meet the debt obligations under its senior secured credit facility. The move was expected to extend the company’s debt maturity profile as well as subtly reduce its coupon costs.
Founded in 1996, Genesis Energy, L.P. (NYSE:GEL) is a diversified midstream energy MLP with headquarters in Texas. The company specializes in managing offshore pipelines in the Gulf of Mexico, onshore transportation systems, marine vessels, and specialty sulfur services.
12. Sunoco LP (NYSE:SUN)
Number of Hedge Fund Holders: 5
Sunoco LP (NYSE:SUN) is included in our list of the 20 largest MLPs.
On March 24, 2026, JPMorgan raised its price target on Sunoco LP (NYSE:SUN) to $73 from $66. The firm’s analyst, Jeremy Tonet, maintained an Overweight rating on the stock. Following the fourth-quarter report, the firm has revised its model.
In another development, Sunoco LP (NYSE:SUN) announced earlier last month the completion of a $1.2 billion private offering of senior unsecured notes. The issuance included $600 million in 5.375% notes due 2031 and $600 million in 5.625% notes due 2034. The company intends to utilize the net proceeds of approximately $1.19 billion from the notes to redeem higher-coupon debt from NuStar Logistics and its own 6.000% notes due 2027. With this completion, Sunoco LP (NYSE:SUN) also aims to secure lower interest rates in addition to extended maturities, which in turn reduces near-term refinancing pressures as well as improves the company’s financial flexibility for general corporate purposes.
Founded in 1886, Sunoco LP (NYSE:SUN) is one of the largest independent fuel distributors in the U.S. Headquartered in Texas, the company operates a high-margin MLP model, wholesaling motor fuel to thousands of convenience stores, independent dealers, and commercial customers across the country and the globe.
