Genesis Energy, L.P. (NYSE:GEL) Short Interest Update

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,380,000 shares, a growth of 6.3% from the September 30th total of 3,180,000 shares. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 346,700 shares, the days-to-cover ratio is currently 9.7 days.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GEL. Royal Bank of Canada lifted their target price on Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday. Finally, StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Insider Buying and Selling at Genesis Energy

In other news, VP Garland G. Gaspard bought 2,261 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $13.27 per share, with a total value of $30,003.47. Following the transaction, the vice president now owns 19,525 shares in the company, valued at $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Axiom Advisory LLC increased its holdings in shares of Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after buying an additional 794 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Genesis Energy by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after acquiring an additional 887 shares during the last quarter. Custom Index Systems LLC increased its holdings in Genesis Energy by 0.9% in the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after purchasing an additional 1,041 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Genesis Energy by 1.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after buying an additional 1,286 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of Genesis Energy by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after acquiring an additional 2,625 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Performance

GEL stock traded down $0.24 during midday trading on Friday, reaching $11.07. 867,957 shares of the company were exchanged, compared to its average volume of 370,426. Genesis Energy has a one year low of $10.01 and a one year high of $15.17. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -84.92 and a beta of 2.10. The business has a 50-day moving average price of $13.24 and a two-hundred day moving average price of $13.27. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings data on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The firm had revenue of $714.30 million during the quarter. During the same quarter last year, the company posted $0.29 earnings per share.

Genesis Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Thursday, October 31st. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently -461.50%.

Genesis Energy Company Profile

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.