Genesis Energy, L.P. (NYSE:GEL) Short Interest Down 5.6% in March

Genesis Energy, L.P. (NYSE:GEL) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,700,000 shares, a decrease of 5.6% from the March 15th total of 1,800,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 356,200 shares, the days-to-cover ratio is presently 4.8 days.

Hedge Funds Weigh In On Genesis Energy

A number of institutional investors have recently made changes to their positions in GEL. Mariner LLC increased its holdings in shares of Genesis Energy by 22.8% in the 1st quarter. Mariner LLC now owns 42,385 shares of the pipeline company’s stock worth $496,000 after buying an additional 7,868 shares during the last quarter. UBS Group AG increased its holdings in shares of Genesis Energy by 19.6% in the 1st quarter. UBS Group AG now owns 1,431,719 shares of the pipeline company’s stock worth $16,766,000 after buying an additional 234,305 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Genesis Energy by 7.6% in the 1st quarter. Vident Investment Advisory LLC now owns 94,658 shares of the pipeline company’s stock worth $1,108,000 after buying an additional 6,657 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Genesis Energy by 4.3% in the 1st quarter. Advisors Asset Management Inc. now owns 190,748 shares of the pipeline company’s stock worth $2,234,000 after buying an additional 7,806 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Genesis Energy by 8,647.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 82,054 shares of the pipeline company’s stock worth $658,000 after buying an additional 81,116 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Genesis Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th.

Genesis Energy Stock Performance

NYSE GEL opened at $11.78 on Thursday. Genesis Energy has a 1 year low of $8.05 and a 1 year high of $12.78. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.00 and a quick ratio of 0.86. The stock has a market capitalization of $1.44 billion, a PE ratio of 53.55 and a beta of 2.04. The company’s 50 day simple moving average is $11.31 and its two-hundred day simple moving average is $11.47.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.31). Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The firm had revenue of $774.10 million during the quarter. During the same quarter in the previous year, the company earned $0.15 EPS. Genesis Energy’s quarterly revenue was up 8.4% on a year-over-year basis.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.09%. The ex-dividend date is Monday, April 29th. Genesis Energy’s dividend payout ratio is presently 272.73%.

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.