Genesis Energy, L.P. (NYSE:GEL) Sees Large Decrease in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 3,410,000 shares, a decrease of 15.8% from the January 31st total of 4,050,000 shares. Based on an average daily trading volume, of 569,900 shares, the days-to-cover ratio is presently 6.0 days. Approximately 3.6% of the company’s stock are short sold.

Genesis Energy Stock Performance

Shares of Genesis Energy stock traded up $0.26 during mid-day trading on Friday, hitting $13.14. 196,617 shares of the stock were exchanged, compared to its average volume of 677,577. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17. The company has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $11.91. The company has a market capitalization of $1.61 billion, a P/E ratio of -10.57 and a beta of 1.92. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy (NYSE:GEL) last issued its quarterly earnings results on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). The business had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is currently -53.23%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their price objective on shares of Genesis Energy from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday.

Hedge Funds Weigh In On Genesis Energy

Institutional investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp bought a new stake in Genesis Energy in the third quarter worth about $59,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Genesis Energy in the 3rd quarter worth approximately $139,000. F M Investments LLC purchased a new position in Genesis Energy in the fourth quarter valued at approximately $122,000. Ameriprise Financial Inc. purchased a new position in Genesis Energy in the fourth quarter valued at approximately $126,000. Finally, Stifel Financial Corp grew its holdings in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares during the period. Institutional investors own 66.82% of the company’s stock.

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.