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

Genesis Energy, L.P. (NYSE:GEL) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 2,390,000 shares, a decline of 6.3% from the June 15th total of 2,550,000 shares. Based on an average daily volume of 399,200 shares, the days-to-cover ratio is presently 6.0 days. Approximately 2.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Genesis Energy

Several institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its stake in shares of Genesis Energy by 4.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock worth $372,000 after acquiring an additional 1,550 shares in the last quarter. Pettinga Financial Advisors LLC grew its stake in shares of Genesis Energy by 9.9% in the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 2,000 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Genesis Energy by 2.8% in the first 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 in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Genesis Energy by 170.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,311 shares of the pipeline company’s stock worth $62,000 after acquiring an additional 3,347 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Genesis Energy in the fourth quarter worth $46,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Trading Up 1.9 %

NYSE GEL traded up $0.28 on Wednesday, reaching $14.82. The stock had a trading volume of 212,015 shares, compared to its average volume of 369,554. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 43.59 and a beta of 2.11. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.39. Genesis Energy has a 12-month low of $8.05 and a 12-month high of $14.84. The stock has a fifty day moving average price of $13.44 and a two-hundred day moving average price of $12.26.

Genesis Energy (NYSE:GEL) last announced its earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The firm had revenue of $770.11 million during the quarter. Genesis Energy had a net margin of 4.14% and a return on equity of 14.70%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share.

Genesis Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be paid a $0.15 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.60 annualized dividend and a dividend yield of 4.05%. Genesis Energy’s dividend payout ratio (DPR) is 176.48%.

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.