Genesis Energy, L.P. (NYSE:GEL) Sees Significant Decline in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 2,650,000 shares, a decrease of 10.5% from the November 30th total of 2,960,000 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average trading volume of 452,800 shares, the short-interest ratio is presently 5.9 days.

Genesis Energy Stock Up 0.8 %

GEL stock traded up $0.08 during midday trading on Wednesday, hitting $10.11. The stock had a trading volume of 306,849 shares, compared to its average volume of 391,683. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -13.66 and a beta of 2.12. The business has a 50-day moving average of $11.29 and a two-hundred day moving average of $12.78. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17.

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

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.165 per share. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, October 31st. This represents a $0.66 dividend on an annualized basis and a yield of 6.53%. Genesis Energy’s payout ratio is presently -89.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their target price on 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 raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st.

Institutional Investors Weigh In On Genesis Energy

Institutional investors have recently modified their holdings of the stock. BBR Partners LLC purchased a new stake in Genesis Energy during the 3rd quarter valued at about $648,000. Creative Planning purchased a new stake in shares of Genesis Energy during the second quarter valued at approximately $43,591,000. Murchinson Ltd. bought a new stake in shares of Genesis Energy during the third quarter valued at approximately $1,005,000. Wealth Enhancement Advisory Services LLC purchased a new position in Genesis Energy in the 3rd quarter worth approximately $139,000. Finally, Stifel Financial Corp lifted its position in Genesis Energy by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after acquiring an additional 1,819 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.