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

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

Genesis Energy Trading Down 1.9 %

Shares of GEL traded down $0.26 during midday trading on Thursday, hitting $13.23. 510,179 shares of the stock were exchanged, compared to its average volume of 357,646. Genesis Energy has a 52-week low of $10.01 and a 52-week high of $15.17. The stock has a fifty day simple moving average of $13.32 and a 200 day simple moving average of $13.18. The firm has a market cap of $1.62 billion, a P/E ratio of 38.91 and a beta of 2.10. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09.

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

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 4.99%. This is an increase 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 194.12%.

Analyst Ratings Changes

GEL has been the subject of several research analyst reports. StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Royal Bank of Canada raised their price target on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insiders Place Their Bets

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, with a total value of $30,003.47. Following the completion of the purchase, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by insiders.

Institutional Trading of Genesis Energy

Institutional investors have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in shares of Genesis Energy during the first quarter worth about $55,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in shares of Genesis Energy during the first quarter worth about $111,000. Van ECK Associates Corp increased its position in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after purchasing an additional 3,073 shares in the last quarter. Pettinga Financial Advisors LLC increased its position in shares of Genesis Energy by 9.9% during the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Axiom Advisory LLC increased its position 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 purchasing an additional 794 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

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.