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

Genesis Energy, L.P. (NYSE:GEL) was the target of a large growth in short interest in the month of 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 company’s shares are sold short. Based on an average trading volume of 488,900 shares, the short-interest ratio is currently 5.7 days.

Analysts Set New Price Targets

GEL has been the topic of a number of analyst reports. 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. Royal Bank of Canada raised their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Genesis Energy Stock Up 1.1 %

GEL stock traded up $0.12 during mid-day trading on Monday, hitting $10.82. 731,801 shares of the company were exchanged, compared to its average volume of 465,555. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The firm has a market cap of $1.32 billion, a P/E ratio of -14.62 and a beta of 2.14. The firm’s 50 day simple moving average is $10.87 and its 200 day simple moving average is $12.47. Genesis Energy has a 1-year low of $9.86 and a 1-year high of $15.17.

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

Genesis Energy Dividend Announcement

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

Hedge Funds Weigh In On Genesis Energy

Several hedge funds have recently made changes to their positions in GEL. Oppenheimer Asset Management Inc. grew its stake in shares of Genesis Energy by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock worth $491,000 after acquiring an additional 887 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Genesis Energy by 40.9% during the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock worth $443,000 after acquiring an additional 8,984 shares in the last quarter. ELCO Management Co. LLC grew its stake in shares of Genesis Energy by 10.7% during 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. Creative Planning bought a new position in shares of Genesis Energy during the 2nd quarter worth approximately $43,591,000. Finally, Axiom Advisory LLC grew its stake in shares of Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 794 shares in the last quarter. 66.82% of the stock is owned by 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.