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

Genesis Energy, L.P. (NYSE:GEL) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,380,000 shares, a growth of 6.3% from the September 30th total of 3,180,000 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average trading volume of 346,700 shares, the days-to-cover ratio is presently 9.7 days.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Insider Transactions at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the transaction, the vice president now directly owns 19,525 shares of the company’s stock, valued at $259,096.75. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 acquiring an additional 760,739 shares during the period. Chickasaw Capital Management LLC raised its holdings in 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 acquiring an additional 262,784 shares during the period. Creative Planning raised its holdings in Genesis Energy by 1.9% in the 3rd quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after acquiring an additional 59,263 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Genesis Energy by 19.9% during the first quarter. Advisors Asset Management Inc. now owns 208,150 shares of the pipeline company’s stock worth $2,315,000 after purchasing an additional 34,614 shares during the period. Finally, ELCO Management Co. LLC increased its holdings in shares of Genesis Energy by 10.7% during the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock worth $2,695,000 after purchasing an additional 18,170 shares during the period. 66.82% of the stock is owned by institutional investors.

Genesis Energy Trading Down 2.7 %

Shares of GEL traded down $0.31 during trading hours on Friday, reaching $11.00. The stock had a trading volume of 699,329 shares, compared to its average volume of 368,943. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74. Genesis Energy has a 52 week low of $10.01 and a 52 week high of $15.17. The firm has a 50-day moving average of $13.24 and a 200 day moving average of $13.27. The company has a market cap of $1.35 billion, a P/E ratio of -87.38 and a beta of 2.10.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. The company had revenue of $714.30 million during the quarter. During the same period in the previous year, the firm posted $0.29 earnings per share.

Genesis Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 6.00%. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, October 31st. Genesis Energy’s dividend payout ratio is presently -461.50%.

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.