Short Interest in Genesis Energy, L.P. (NYSE:GEL) Drops By 10.5%

Genesis Energy, L.P. (NYSE:GEL) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 2,650,000 shares, a decrease of 10.5% from the November 30th total of 2,960,000 shares. Based on an average daily trading volume, of 452,800 shares, the days-to-cover ratio is presently 5.9 days. Currently, 2.8% of the company’s stock are sold short.

Genesis Energy Stock Up 0.8 %

Shares of GEL stock traded up $0.08 during mid-day trading on Wednesday, hitting $10.11. 306,849 shares of the stock traded hands, compared to its average volume of 391,683. Genesis Energy has a 52-week low of $9.86 and a 52-week high of $15.17. The stock has a market cap of $1.24 billion, a P/E ratio of -13.66 and a beta of 2.12. 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 stock’s fifty day moving average is $11.23 and its two-hundred day moving average is $12.76.

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

Genesis Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.165 dividend. The ex-dividend date was Thursday, October 31st. This is a boost from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 6.53%. Genesis Energy’s dividend payout ratio (DPR) is -89.19%.

Analysts Set New Price Targets

A number of research firms have commented on GEL. Royal Bank of Canada raised their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors have recently added to or reduced their stakes in GEL. Creative Planning purchased a new stake in shares of Genesis Energy during the second quarter valued at $43,591,000. ING Groep NV grew its stake in Genesis Energy by 15.1% during the 3rd quarter. ING Groep NV now owns 762,700 shares of the pipeline company’s stock valued at $10,197,000 after purchasing an additional 100,000 shares during the last quarter. Murchinson Ltd. purchased a new stake in Genesis Energy during the 3rd quarter valued at about $1,005,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Genesis Energy in the second quarter worth about $1,013,000. Finally, BBR Partners LLC purchased a new position in shares of Genesis Energy in the third quarter worth about $648,000. Institutional investors and hedge funds 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.