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

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

Insider Activity

In other news, VP Garland G. Gaspard bought 2,261 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $13.27 per share, with a total value of $30,003.47. Following the acquisition, 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Genesis Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEL. Creative Planning bought a new position in Genesis Energy during the second quarter valued at approximately $43,591,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Genesis Energy by 14.5% in 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 during the last quarter. Chickasaw Capital Management LLC lifted its stake in shares of Genesis Energy by 6.5% in the 2nd quarter. Chickasaw Capital Management LLC now owns 4,291,499 shares of the pipeline company’s stock valued at $61,411,000 after purchasing an additional 262,784 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Genesis Energy by 24.5% in the 4th quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock valued at $11,449,000 after purchasing an additional 194,258 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Genesis Energy by 9.7% in 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 during the last quarter. 66.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Genesis Energy Trading Up 0.9 %

Shares of Genesis Energy stock opened at $13.49 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 39.71 and a beta of 2.10. Genesis Energy has a twelve month low of $9.77 and a twelve month high of $15.17. The business has a 50-day moving average price of $13.39 and a 200-day moving average price of $12.98.

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

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, July 31st. Genesis Energy’s payout ratio is presently 176.47%.

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.