Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 5.3% in December

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,790,000 shares, a growth of 5.3% from the December 15th total of 2,650,000 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average trading volume of 488,900 shares, the days-to-cover ratio is presently 5.7 days.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds have recently made changes to their positions in the business. Creative Planning bought a new stake in Genesis Energy in the second quarter valued at $43,591,000. ING Groep NV boosted its stake in shares of Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after purchasing an additional 100,000 shares in the last quarter. Murchinson Ltd. bought a new stake in Genesis Energy during the 3rd quarter valued at approximately $1,005,000. BBR Partners LLC purchased a new position in shares of Genesis Energy during the 3rd quarter worth approximately $648,000. Finally, ELCO Management Co. LLC raised its position in shares of Genesis Energy by 10.7% in the 2nd quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock worth $2,695,000 after acquiring an additional 18,170 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Trading Up 1.1 %

GEL stock traded up $0.12 during midday trading on Monday, hitting $10.82. The company had a trading volume of 731,801 shares, compared to its average volume of 465,555. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -14.62 and a beta of 2.14. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $15.17. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The stock’s 50 day moving average price is $10.87 and its 200 day moving average price is $12.47.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The firm had revenue of $714.30 million for the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the prior year, the company earned $0.29 EPS.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.10%. Genesis Energy’s dividend payout ratio is currently -89.19%.

Wall Street Analyst Weigh In

GEL has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

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.