Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 15.1% in July

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 2,750,000 shares, an increase of 15.1% from the June 30th total of 2,390,000 shares. Based on an average daily volume of 371,100 shares, the days-to-cover ratio is presently 7.4 days. Approximately 2.6% of the shares of the stock are sold short.

Institutional Investors Weigh In On Genesis Energy

Several hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Genesis Energy during the 4th quarter worth about $46,000. Mather Group LLC. acquired a new position in Genesis Energy during the 1st quarter worth about $55,000. Tower Research Capital LLC TRC lifted its holdings in Genesis Energy by 170.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,311 shares of the pipeline company’s stock worth $62,000 after buying an additional 3,347 shares during the period. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in Genesis Energy in the 1st quarter valued at about $111,000. Finally, Pettinga Financial Advisors LLC increased its position in Genesis Energy by 9.9% in the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock valued at $248,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Trading Down 0.2 %

Shares of GEL stock opened at $14.00 on Wednesday. The stock’s fifty day moving average price is $13.66 and its two-hundred day moving average price is $12.40. The company has a market cap of $1.71 billion, a PE ratio of 41.28 and a beta of 2.11. Genesis Energy has a fifty-two week low of $8.05 and a fifty-two week high of $15.17. The company has a debt-to-equity ratio of 4.39, a quick ratio of 0.90 and a current ratio of 1.05.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The business 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 business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.21) earnings per share.

Genesis Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Wednesday, July 31st. Genesis Energy’s dividend payout ratio (DPR) is 176.48%.

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.