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

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,550,000 shares, an increase of 9.9% from the May 31st total of 2,320,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 408,700 shares, the short-interest ratio is currently 6.2 days.

Genesis Energy Stock Up 0.1 %

Genesis Energy stock opened at $14.45 on Thursday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 42.50 and a beta of 2.11. The company has a current ratio of 1.05, a quick ratio of 0.90 and a debt-to-equity ratio of 4.39. The company’s 50-day moving average price is $13.06 and its two-hundred day moving average price is $12.09. Genesis Energy has a 52 week low of $8.05 and a 52 week high of $14.68.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.10). The company had revenue of $770.11 million for the quarter. Genesis Energy had a net margin of 4.14% and a return on equity of 14.70%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, April 29th. This represents a $0.60 annualized dividend and a dividend yield of 4.15%. Genesis Energy’s dividend payout ratio (DPR) is 176.48%.

Hedge Funds Weigh In On Genesis Energy

Several large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Genesis Energy by 14.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,020,276 shares of the pipeline company’s stock valued at $67,126,000 after purchasing an additional 760,739 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Genesis Energy by 1.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 4,188,175 shares of the pipeline company’s stock valued at $48,499,000 after purchasing an additional 59,458 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Genesis Energy by 4.6% during the 1st quarter. Chickasaw Capital Management LLC now owns 4,028,715 shares of the pipeline company’s stock valued at $44,799,000 after purchasing an additional 175,981 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 purchasing an additional 189,610 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Genesis Energy by 479.1% during the 4th quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock valued at $16,412,000 after purchasing an additional 1,172,536 shares in the last quarter. Institutional investors own 66.82% of the company’s stock.

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.