Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 5.3% in December

Genesis Energy, L.P. (NYSE:GEL) was the target of a large increase in short interest in 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. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 488,900 shares, the days-to-cover ratio is presently 5.7 days.

Institutional Investors Weigh In On Genesis Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Axiom Advisory LLC raised its stake in Genesis Energy by 2.8% in 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 period. Oppenheimer Asset Management Inc. raised its stake in Genesis Energy by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after acquiring an additional 887 shares during the period. Captrust Financial Advisors lifted its holdings in Genesis Energy by 2.9% during the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Genesis Energy by 1.0% during the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after purchasing an additional 1,286 shares during the period. Finally, Stifel Financial Corp increased 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 valued at $250,000 after purchasing an additional 1,819 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Genesis Energy Trading Up 1.1 %

Genesis Energy stock opened at $10.82 on Tuesday. The company has a debt-to-equity ratio of 5.13, a current ratio of 1.03 and a quick ratio of 0.91. The firm has a 50-day moving average of $10.86 and a 200-day moving average of $12.44. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -14.62 and a beta of 2.14. Genesis Energy has a one year low of $9.86 and a one year high of $15.17.

Genesis Energy (NYSE:GEL) last released its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $714.30 million during the quarter. Genesis Energy had a negative net margin of 0.09% and a negative return on equity of 0.31%. During the same period in the previous year, the company earned $0.29 earnings per share.

Genesis Energy Dividend Announcement

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

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.