Genesis Energy, L.P. (NYSE:GEL) Short Interest Update

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 3,050,000 shares, a decline of 13.8% from the October 31st total of 3,540,000 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average daily volume of 415,500 shares, the short-interest ratio is currently 7.3 days.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors have recently bought and sold shares of GEL. Millburn Ridgefield Corp bought a new stake in Genesis Energy during the 3rd quarter worth about $59,000. Wealth Enhancement Advisory Services LLC bought a new stake in Genesis Energy during the third quarter worth about $139,000. Stifel Financial Corp raised its holdings in Genesis Energy by 10.8% during the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 1,819 shares in the last quarter. Van ECK Associates Corp boosted its position in 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 purchasing an additional 3,073 shares during the last quarter. Finally, Axiom Advisory LLC grew its stake in Genesis Energy by 2.8% in the third 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 in the last quarter. Institutional investors own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada raised their target price on 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 1.5 %

Shares of NYSE GEL opened at $11.98 on Friday. The firm has a 50 day moving average price of $12.47 and a 200 day moving average price of $13.13. 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 stock has a market cap of $1.47 billion, a P/E ratio of -16.19 and a beta of 2.12. Genesis Energy has a 52-week low of $10.01 and a 52-week high of $15.17.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The firm 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 period in the previous year, the business posted $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date was Thursday, October 31st. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. Genesis Energy’s dividend payout ratio (DPR) is currently -89.19%.

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.