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

Genesis Energy, L.P. (NYSE:GEL) was the target of 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. Based on an average daily volume of 330,800 shares, the days-to-cover ratio is currently 9.6 days. Currently, 3.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GEL shares. Royal Bank of Canada upped their price objective on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com lowered 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 related news, VP Garland G. Gaspard acquired 2,261 shares of the stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $13.27 per share, for a total transaction 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GEL. Goldman Sachs Group Inc. boosted its position in Genesis Energy by 9.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock valued at $24,743,000 after buying an additional 189,610 shares during the period. Mather Group LLC. purchased a new position in shares of Genesis Energy in the first quarter valued at about $55,000. Sanders Morris Harris LLC bought a new position in shares of Genesis Energy during the first quarter valued at about $1,372,000. Pettinga Financial Advisors LLC boosted its holdings 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 during the period. Finally, Maryland State Retirement & Pension System grew its stake in shares of Genesis Energy by 2.8% in the first quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after purchasing an additional 2,625 shares during the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Genesis Energy Trading Down 1.9 %

Shares of GEL stock traded down $0.26 on Thursday, hitting $13.23. 510,079 shares of the company’s stock traded hands, compared to its average volume of 357,645. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 39.59 and a beta of 2.10. The company’s fifty day simple moving average is $13.32 and its 200 day simple moving average is $13.18. Genesis Energy has a one year low of $10.01 and a one year high of $15.17. 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 announced its quarterly earnings data 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 for the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same quarter in the prior year, the business earned $0.22 earnings per share.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio is 194.12%.

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.