Genesis Energy, L.P. (NYSE:GEL) Sees Large Decline in Short Interest

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

Genesis Energy Stock Performance

NYSE:GEL opened at $14.05 on Friday. The firm’s fifty day simple moving average is $13.95 and its 200-day simple moving average is $12.16. The company has a quick ratio of 0.91, a current ratio of 1.03 and a debt-to-equity ratio of 5.13. The stock has a market cap of $1.72 billion, a PE ratio of -11.33 and a beta of 1.39. Genesis Energy has a fifty-two week low of $9.86 and a fifty-two week high of $16.44.

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 the consensus estimate of ($0.05) by ($0.53). Genesis Energy had a negative return on equity of 7.71% and a negative net margin of 2.16%. The company had revenue of $725.55 million for the quarter.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.70%. The ex-dividend date is Wednesday, April 30th. Genesis Energy’s dividend payout ratio (DPR) is -53.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sowell Financial Services LLC increased its holdings in Genesis Energy by 1.4% during the 1st 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. increased its stake in shares of Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company’s stock worth $369,000 after purchasing an additional 1,584 shares in the last quarter. Mariner LLC raised its position in shares of 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 during the last quarter. Arrow Investment Advisors LLC lifted its stake in Genesis Energy by 21.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company’s stock valued at $215,000 after buying an additional 2,381 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew 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 valued at $488,000 after buying an additional 2,717 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEL shares. Wells Fargo & Company upgraded shares of Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $15.00 to $18.00 in a research note on Monday, March 17th. Royal Bank of Canada boosted their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, March 17th.

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.