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

Genesis Energy, L.P. (NYSE:GEL) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 2,790,000 shares, an increase of 5.3% from the December 15th total of 2,650,000 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 488,900 shares, the short-interest ratio is currently 5.7 days.

Genesis Energy Stock Up 1.1 %

Shares of NYSE:GEL traded up $0.12 during trading on Monday, reaching $10.82. 731,801 shares of the stock traded hands, compared to its average volume of 465,555. The stock has a market cap of $1.32 billion, a P/E ratio of -14.62 and a beta of 2.14. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03. The stock has a 50-day moving average of $10.87 and a two-hundred day moving average of $12.47. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17.

Genesis Energy (NYSE:GEL) last issued 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). The business had revenue of $714.30 million during the quarter. Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. During the same period last year, the business posted $0.29 earnings per share.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.66 annualized dividend and a dividend yield of 6.10%. Genesis Energy’s payout ratio is -89.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GEL. Capital One Financial upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Institutional Trading of Genesis Energy

Several large investors have recently modified their holdings of the company. Millburn Ridgefield Corp bought a new position in Genesis Energy in the third quarter valued at about $59,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Genesis Energy in the 3rd quarter worth approximately $139,000. Stifel Financial Corp boosted its holdings in shares of Genesis Energy by 10.8% in the third quarter. Stifel Financial Corp now owns 18,722 shares of the pipeline company’s stock worth $250,000 after buying an additional 1,819 shares during the last quarter. Mutual Advisors LLC grew its position in Genesis Energy by 101.8% during the fourth quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock valued at $341,000 after buying an additional 16,099 shares during the period. Finally, Axiom Advisory LLC increased its holdings in Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares during the last quarter. Institutional investors own 66.82% of the company’s stock.

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.