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

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 3,010,000 shares, a decline of 5.0% from the August 31st total of 3,170,000 shares. Based on an average daily volume of 345,500 shares, the short-interest ratio is presently 8.7 days. Approximately 3.2% of the company’s shares are short sold.

Genesis Energy Stock Performance

Shares of GEL stock opened at $13.49 on Wednesday. The company has a 50 day moving average price of $13.39 and a 200-day moving average price of $12.98. Genesis Energy has a 52 week low of $9.77 and a 52 week high of $15.17. The firm has a market capitalization of $1.65 billion, a PE ratio of 39.71 and a beta of 2.10. The company has a quick ratio of 0.96, a current ratio of 1.09 and a debt-to-equity ratio of 4.74.

Genesis Energy (NYSE:GEL) last posted its earnings results on Thursday, August 1st. The pipeline company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.22). The company had revenue of $756.26 million during the quarter. Genesis Energy had a return on equity of 8.26% and a net margin of 2.34%. During the same period in the previous year, the business posted $0.22 earnings per share.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.60 annualized dividend and a yield of 4.45%. Genesis Energy’s payout ratio is 176.47%.

Insider Activity

In related news, VP Garland G. Gaspard bought 2,261 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $13.27 per share, with a total value of $30,003.47. Following the purchase, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Genesis Energy

Large investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new position in shares of Genesis Energy in the first quarter worth approximately $55,000. Paragon Associates & Paragon Associates II Joint Venture bought a new position in Genesis Energy in the first quarter worth approximately $111,000. Pettinga Financial Advisors LLC boosted its stake in shares of Genesis Energy by 9.9% during the 1st quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company’s stock worth $248,000 after acquiring an additional 2,000 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Genesis Energy by 17.4% during the 2nd quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock valued at $297,000 after acquiring an additional 3,073 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Genesis Energy by 4.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 33,435 shares of the pipeline company’s stock valued at $372,000 after acquiring an additional 1,550 shares during the period. 66.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th.

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.