Genesis Energy, L.P. (NYSE:GEL) Sees Large Decrease in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 3,440,000 shares, a decrease of 16.3% from the March 31st total of 4,110,000 shares. Based on an average daily volume of 707,500 shares, the short-interest ratio is currently 4.9 days. Approximately 3.9% of the shares of the company are sold short.

Genesis Energy Trading Up 3.3 %

Shares of Genesis Energy stock opened at $14.05 on Friday. The company has a 50-day moving average of $13.95 and a two-hundred day moving average of $12.15. Genesis Energy has a 12-month low of $9.86 and a 12-month high of $16.44. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The stock has a market cap of $1.72 billion, a PE ratio of -11.33 and a beta of 1.39.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.53). The firm had revenue of $725.55 million during 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 given a $0.165 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $0.66 annualized dividend and a dividend yield of 4.70%. Genesis Energy’s dividend payout ratio is presently -53.23%.

Analysts Set New Price Targets

GEL has been the topic of several recent analyst reports. Wells Fargo & Company upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Monday, March 17th. Royal Bank of Canada upped their price objective on Genesis Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, March 17th.

Hedge Funds Weigh In On Genesis Energy

Several hedge funds have recently added to or reduced their stakes in the business. ING Groep NV grew its position in shares of Genesis Energy by 12.1% in the fourth quarter. ING Groep NV now owns 855,000 shares of the pipeline company’s stock valued at $8,644,000 after purchasing an additional 92,300 shares during the last quarter. Manning & Napier Advisors LLC grew its holdings in Genesis Energy by 40.0% during the 4th quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock valued at $3,538,000 after buying an additional 100,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Genesis Energy by 9.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,665,597 shares of the pipeline company’s stock valued at $47,169,000 after buying an additional 418,555 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Genesis Energy during the fourth quarter worth $404,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of Genesis Energy in the fourth quarter worth $920,000. 66.82% of the stock is currently owned by hedge funds and other institutional investors.

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.