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

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

Institutional Investors Weigh In On Genesis Energy

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of Genesis Energy by 17.4% during the second quarter. Van ECK Associates Corp now owns 20,777 shares of the pipeline company’s stock worth $297,000 after acquiring an additional 3,073 shares during the period. Custom Index Systems LLC raised its position in Genesis Energy by 0.9% in the 2nd quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after purchasing an additional 1,041 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of 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 buying an additional 887 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in shares of Genesis Energy during the second quarter worth about $1,013,000. Finally, XTX Topco Ltd increased its stake in shares of Genesis Energy by 40.9% during the second quarter. XTX Topco Ltd now owns 30,925 shares of the pipeline company’s stock worth $443,000 after buying an additional 8,984 shares during the period. 66.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GEL has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st.

Genesis Energy Trading Up 0.8 %

Shares of NYSE:GEL traded up $0.08 during mid-day trading on Wednesday, reaching $10.11. 306,849 shares of the company were exchanged, compared to its average volume of 391,683. Genesis Energy has a 1 year low of $9.86 and a 1 year high of $15.17. 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’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $12.78. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -13.66 and a beta of 2.12.

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

Genesis Energy Increases Dividend

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

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.