Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 5.6% in September

Genesis Energy, L.P. (NYSE:GEL) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 3,180,000 shares, a growth of 5.6% from the September 15th total of 3,010,000 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 330,800 shares, the short-interest ratio is currently 9.6 days.

Insider Activity at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of Genesis Energy stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the acquisition, the vice president now directly owns 19,525 shares in the company, valued at approximately $259,096.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of GEL. Goldman Sachs Group Inc. raised its stake in shares of Genesis Energy by 9.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock valued at $24,743,000 after purchasing an additional 189,610 shares during the period. Mather Group LLC. bought a new position in shares of Genesis Energy in the first quarter valued at approximately $55,000. Sanders Morris Harris LLC purchased a new position in Genesis Energy during the first quarter valued at approximately $1,372,000. Pettinga Financial Advisors LLC increased its holdings in Genesis Energy by 9.9% during the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 2,000 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after purchasing an additional 2,625 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of GEL traded down $0.26 during mid-day trading on Thursday, hitting $13.23. The stock had a trading volume of 510,079 shares, compared to its average volume of 357,645. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The firm has a market cap of $1.62 billion, a P/E ratio of 39.59 and a beta of 2.10. Genesis Energy has a 52 week low of $10.01 and a 52 week high of $15.17. The business has a fifty day moving average price of $13.32 and a 200-day moving average price of $13.18.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). The business had revenue of $756.26 million for the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same quarter in the previous year, the business posted $0.22 earnings per share.

Genesis Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 4.99%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, October 31st. Genesis Energy’s payout ratio is currently 194.12%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEL. Royal Bank of Canada raised their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

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.