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

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large increase in short interest in 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. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 330,800 shares, the short-interest ratio is presently 9.6 days.

Insider Buying and Selling at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard purchased 2,261 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $13.27 per share, with a total value of $30,003.47. Following the acquisition, the vice president now directly owns 19,525 shares in the company, valued at approximately $259,096.75. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Trading of Genesis Energy

Several hedge funds and other institutional investors have recently bought and sold shares of GEL. Mather Group LLC. purchased a new position in shares of Genesis Energy in the first quarter worth $55,000. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Genesis Energy during the first quarter valued at about $111,000. Pettinga Financial Advisors LLC raised its stake 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 valued at $248,000 after acquiring an additional 2,000 shares during the last quarter. Van ECK Associates Corp raised its stake 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 valued at $297,000 after acquiring an additional 3,073 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Genesis Energy by 4.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock valued at $372,000 after acquiring an additional 1,550 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

Genesis Energy Stock Performance

Shares of NYSE GEL opened at $13.23 on Friday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 38.91 and a beta of 2.10. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 4.74. Genesis Energy has a 1-year low of $10.01 and a 1-year high of $15.17. The stock’s 50-day moving average is $13.31 and its 200 day moving average is $13.18.

Genesis Energy (NYSE:GEL) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The firm 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 last year, the company posted $0.22 earnings per share.

Genesis Energy Increases Dividend

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

Analysts Set New Price Targets

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

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.