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

Genesis Energy, L.P. (NYSE:GEL) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,790,000 shares, an increase of 5.3% from the December 15th total of 2,650,000 shares. Currently, 3.0% of the shares of the company are short sold. Based on an average daily volume of 488,900 shares, the short-interest ratio is presently 5.7 days.

Hedge Funds Weigh In On Genesis Energy

A number of institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. boosted its stake in Genesis Energy by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after buying an additional 887 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Genesis Energy by 40.9% in the 2nd quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock valued at $443,000 after purchasing an additional 8,984 shares in the last quarter. ELCO Management Co. LLC grew its holdings 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 valued at $2,695,000 after purchasing an additional 18,170 shares during the last quarter. Creative Planning acquired a new position in Genesis Energy during the 2nd quarter worth approximately $43,591,000. Finally, Axiom Advisory LLC lifted its stake in Genesis Energy by 2.8% in the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 794 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Stock Up 1.1 %

GEL stock opened at $10.82 on Tuesday. The company has a market cap of $1.32 billion, a PE ratio of -14.62 and a beta of 2.14. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $15.17. The business has a 50-day simple moving average of $10.86 and a 200 day simple moving average of $12.44.

Genesis Energy (NYSE:GEL) last issued 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 firm had revenue of $714.30 million during the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the previous year, the firm earned $0.29 EPS.

Genesis Energy Announces Dividend

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

Analyst Ratings Changes

GEL has been the subject of a number of research reports. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th.

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.