Genesis Energy, L.P. (NYSE:GEL) Sees Significant Increase in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 4,050,000 shares, an increase of 45.7% from the January 15th total of 2,780,000 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average trading volume of 579,000 shares, the days-to-cover ratio is presently 7.0 days.

Genesis Energy Stock Performance

NYSE GEL opened at $11.91 on Friday. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17. The firm’s 50-day moving average is $10.54 and its two-hundred day moving average is $11.98. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. The company had revenue of $725.55 million during the quarter.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Friday, January 31st. Genesis Energy’s payout ratio is -89.19%.

Hedge Funds Weigh In On Genesis Energy

Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock worth $424,000 after buying an additional 900 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of Genesis Energy by 4.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after acquiring an additional 1,584 shares in the last quarter. Stifel Financial Corp boosted its holdings in Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 1,819 shares during the period. Mariner LLC grew its stake in Genesis Energy by 7.0% during the 4th quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock worth $359,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Genesis Energy by 6.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock worth $488,000 after purchasing an additional 2,717 shares during the period. 66.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Capital One Financial raised shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st.

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.