Short Interest in Genesis Energy, L.P. (NYSE:GEL) Increases By 5.6%

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 3,180,000 shares, a growth of 5.6% from the September 15th total of 3,010,000 shares. Approximately 3.4% of the company's stock are short sold. Based on an average daily volume of 330,800 shares, the short-interest ratio is presently 9.6 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GEL. StockNews.com lowered Genesis Energy from a "hold" rating to a "sell" rating in a research report on Monday, August 5th. Royal Bank of Canada upped their target price on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an "outperform" rating in a research note on Wednesday.

Insider Activity at Genesis Energy

In other Genesis Energy news, VP Garland G. Gaspard bought 2,261 shares of Genesis Energy stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $13.27 per share, for a total transaction of $30,003.47. Following the acquisition, the vice president now directly owns 19,525 shares in the company, valued at $259,096.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Institutional Trading of Genesis Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEL. Mather Group LLC. purchased a new position in shares of Genesis Energy in the 1st quarter valued at $55,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in Genesis Energy in the first quarter valued at approximately $111,000. Pettinga Financial Advisors LLC boosted its holdings in shares of Genesis Energy by 9.9% in the first quarter. Pettinga Financial Advisors LLC now owns 22,270 shares of the pipeline company's stock valued at $248,000 after acquiring an additional 2,000 shares during the period. Van ECK Associates Corp grew 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 last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Genesis Energy by 4.9% in 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. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Down 1.9 %

Shares of Genesis Energy stock traded down $0.26 during trading on Thursday, hitting $13.23. 510,079 shares of the stock were exchanged, compared to its average volume of 357,646. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 38.91 and a beta of 2.10. The firm's 50-day moving average price is $13.31 and its 200 day moving average price is $13.18. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. Genesis Energy has a 12-month low of $10.01 and a 12-month high of $15.17.

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

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.165 dividend. This is a positive change from Genesis Energy's previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, October 31st. Genesis Energy's dividend payout ratio is currently 194.12%.

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.