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

Genesis Energy, L.P. (NYSE:GEL) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 3,440,000 shares, a decline of 16.3% from the March 31st total of 4,110,000 shares. Based on an average daily trading volume, of 707,500 shares, the short-interest ratio is currently 4.9 days. Approximately 3.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GEL. Sowell Financial Services LLC grew its position in Genesis Energy by 1.4% in the first quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company’s stock valued at $1,469,000 after acquiring an additional 1,250 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Genesis Energy by 4.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock valued at $369,000 after buying an additional 1,584 shares during the last quarter. Mariner LLC grew its stake in shares of Genesis Energy by 7.0% during the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company’s stock valued at $359,000 after acquiring an additional 2,321 shares in the last quarter. Arrow Investment Advisors LLC increased its position in shares of Genesis Energy by 21.1% during the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock worth $215,000 after acquiring an additional 2,381 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Genesis Energy by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company’s stock worth $488,000 after acquiring an additional 2,717 shares in the last quarter. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GEL has been the subject of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $15.00 to $18.00 in a research note on Monday, March 17th.

Genesis Energy Stock Performance

Shares of GEL stock opened at $14.05 on Friday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -11.33 and a beta of 1.39. The company has a 50 day moving average price of $13.95 and a 200 day moving average price of $12.16. Genesis Energy has a one year low of $9.86 and a one year high of $16.44. The company has a debt-to-equity ratio of 5.13, a quick ratio of 0.91 and a current ratio of 1.03.

Genesis Energy (NYSE:GEL) last issued its earnings results on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%. The firm had revenue of $725.55 million during the quarter.

Genesis Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 annualized dividend and a yield of 4.70%. Genesis Energy’s dividend payout ratio is currently -53.23%.

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.