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

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,790,000 shares, a growth of 5.3% from the December 31st total of 2,650,000 shares. Based on an average trading volume of 488,900 shares, the short-interest ratio is currently 5.7 days. Currently, 3.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Axiom Advisory LLC lifted its position 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 acquiring an additional 794 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after buying an additional 900 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Genesis Energy by 1.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after buying an additional 1,286 shares during the period. Stifel Financial Corp lifted its holdings in shares of Genesis Energy by 10.8% during the 3rd quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after buying an additional 1,819 shares during the period. Finally, Millburn Ridgefield Corp bought a new position in shares of Genesis Energy during the 3rd quarter valued at $59,000. 66.82% of the stock is owned by institutional investors.

Genesis Energy Stock Performance

Genesis Energy stock opened at $10.53 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The company has a market capitalization of $1.29 billion, a P/E ratio of -14.22 and a beta of 2.14. The stock’s 50 day moving average is $10.67 and its 200 day moving average is $12.20. Genesis Energy has a twelve month low of $9.86 and a twelve month high of $15.17.

Genesis Energy (NYSE:GEL) last posted its quarterly earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The company had revenue of $714.30 million during 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 firm earned $0.29 EPS.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.66 annualized dividend and a yield of 6.27%. Genesis Energy’s dividend payout ratio (DPR) is presently -89.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada upped their price target on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th.

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.