Short Interest in Genesis Energy, L.P. (NYSE:GEL) Expands By 28.4%

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,110,000 shares, a growth of 28.4% from the March 15th total of 3,200,000 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average trading volume of 729,100 shares, the days-to-cover ratio is currently 5.6 days.

Genesis Energy Stock Performance

Shares of GEL traded down $0.11 during mid-day trading on Thursday, hitting $14.07. The stock had a trading volume of 6,220 shares, compared to its average volume of 488,309. 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 has a market cap of $1.72 billion, a P/E ratio of -11.38 and a beta of 1.39. Genesis Energy has a 52 week low of $9.86 and a 52 week high of $16.44. The business has a fifty day moving average price of $13.69 and a 200-day moving average price of $12.13.

Genesis Energy (NYSE:GEL - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The business had revenue of $725.55 million for the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.66 dividend on an annualized basis and a yield of 4.69%. Genesis Energy's dividend payout ratio is -53.23%.

Institutional Investors Weigh In On Genesis Energy

Several institutional investors have recently made changes to their positions in GEL. Oppenheimer Asset Management Inc. raised its stake in shares of Genesis Energy by 34.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 49,197 shares of the pipeline company's stock valued at $772,000 after purchasing an additional 12,677 shares during the period. Manning & Napier Advisors LLC increased its position in shares of Genesis Energy by 28.6% during the first quarter. Manning & Napier Advisors LLC now owns 450,000 shares of the pipeline company's stock valued at $7,060,000 after buying an additional 100,000 shares during the period. Arrow Investment Advisors LLC lifted its holdings in shares of Genesis Energy by 21.1% in the first quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock worth $215,000 after buying an additional 2,381 shares in the last quarter. Sowell Financial Services LLC boosted its position in shares of Genesis Energy by 1.4% in the first quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock valued at $1,469,000 after acquiring an additional 1,250 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Genesis Energy by 411.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 110,658 shares of the pipeline company's stock valued at $1,736,000 after acquiring an additional 89,029 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company raised Genesis Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $15.00 to $18.00 in a research report on Monday, March 17th. Royal Bank of Canada boosted their price target on shares of Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Monday, March 17th.

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.