Short Interest in Genesis Energy, L.P. (NYSE:GEL) Decreases By 5.0%

Genesis Energy, L.P. (NYSE:GEL) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 3,010,000 shares, a decrease of 5.0% from the August 31st total of 3,170,000 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 345,500 shares, the short-interest ratio is presently 8.7 days.

Analyst Ratings Changes

Separately, StockNews.com lowered Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

Genesis Energy Stock Performance

Shares of GEL stock traded up $0.28 during mid-day trading on Monday, hitting $13.36. 393,963 shares of the stock were exchanged, compared to its average volume of 367,269. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09. Genesis Energy has a 12-month low of $9.77 and a 12-month high of $15.17. The stock’s fifty day simple moving average is $13.39 and its two-hundred day simple moving average is $12.98. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 39.29 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.22). Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. The business had revenue of $756.26 million during the quarter. During the same period last year, the business posted $0.22 EPS.

Genesis Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Wednesday, July 31st. Genesis Energy’s dividend payout ratio is currently 176.47%.

Insider Activity

In other Genesis Energy news, VP Garland G. Gaspard acquired 2,261 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the completion of the transaction, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. grew its stake in shares of Genesis Energy by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after purchasing an additional 887 shares during the last quarter. Custom Index Systems LLC increased its stake in Genesis Energy by 0.9% in the 2nd quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after buying an additional 1,041 shares during the period. Pettinga Financial Advisors LLC raised its position in Genesis Energy by 9.9% during the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after buying an additional 2,000 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company’s stock worth $1,117,000 after acquiring an additional 2,625 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Genesis Energy by 17.4% in 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 in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.