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

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 3,380,000 shares, an increase of 6.3% from the September 30th total of 3,180,000 shares. Based on an average daily volume of 346,700 shares, the days-to-cover ratio is presently 9.7 days. Approximately 3.6% of the company's shares are sold short.

Insider Buying and Selling at Genesis Energy

In other news, VP Garland G. Gaspard acquired 2,261 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $13.27 per share, with a total value of $30,003.47. Following the completion of the purchase, the vice president now owns 19,525 shares of the company's stock, valued at $259,096.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of Genesis Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Axiom Advisory LLC grew its position in Genesis Energy by 2.8% during the 3rd quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company's stock worth $400,000 after purchasing an additional 794 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in 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 acquiring an additional 887 shares during the period. Custom Index Systems LLC raised its stake in Genesis Energy by 0.9% during the 2nd quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company's stock valued at $1,682,000 after acquiring an additional 1,041 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Genesis Energy by 1.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company's stock worth $1,777,000 after acquiring an additional 1,286 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in shares of Genesis Energy by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 95,184 shares of the pipeline company's stock valued at $1,117,000 after purchasing an additional 2,625 shares during the last quarter. Institutional investors and hedge funds own 66.82% of the company's stock.

Genesis Energy Stock Down 2.5 %

Shares of NYSE:GEL traded down $0.28 during trading hours on Friday, reaching $11.03. The stock had a trading volume of 1,228,680 shares, compared to its average volume of 372,127. Genesis Energy has a 1 year low of $10.01 and a 1 year high of $15.17. The firm's 50 day moving average is $13.21 and its 200-day moving average is $13.25. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -84.84 and a beta of 2.10. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.96 and a current ratio of 1.09.

Genesis Energy (NYSE:GEL - Get Free Report) last posted its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The business had revenue of $714.30 million during the quarter. Genesis Energy had a net margin of 2.34% and a return on equity of 8.26%. During the same quarter in the previous year, the business earned $0.29 earnings per share.

Genesis Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Thursday, October 31st. This is an increase from Genesis Energy's previous quarterly dividend of $0.15. Genesis Energy's payout ratio is currently -461.50%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GEL shares. Capital One Financial upgraded shares of Genesis Energy from an "equal weight" rating to an "overweight" rating in a report on Friday. Royal Bank of Canada lifted their target price on Genesis Energy from $15.00 to $16.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, StockNews.com downgraded Genesis Energy from a "hold" rating to a "sell" rating in a report on Monday, August 5th.

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.