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

Genesis Energy, L.P. (NYSE:GEL) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 3,010,000 shares, a decline of 5.0% from the August 31st total of 3,170,000 shares. Based on an average daily trading volume, of 345,500 shares, the short-interest ratio is currently 8.7 days. Currently, 3.2% of the shares of the stock are short sold.

Genesis Energy Trading Up 2.1 %

Shares of GEL traded up $0.28 during mid-day trading on Monday, reaching $13.36. 393,963 shares of the company’s stock traded hands, compared to its average volume of 367,269. Genesis Energy has a 12 month low of $9.77 and a 12 month high of $15.17. The company has a debt-to-equity ratio of 4.74, a current ratio of 1.09 and a quick ratio of 0.96. The stock has a market cap of $1.64 billion, a P/E ratio of 39.29 and a beta of 2.10. The stock’s 50-day moving average is $13.39 and its two-hundred day moving average is $12.98.

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

Genesis Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend was Wednesday, July 31st. Genesis Energy’s dividend payout ratio is presently 176.47%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Genesis Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 5th.

Insider Buying and Selling

In other news, VP Garland G. Gaspard purchased 2,261 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $259,096.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Trading of Genesis Energy

A number of large investors have recently modified their holdings of GEL. Wells Fargo & Company MN grew its stake in Genesis Energy by 24.5% in the fourth quarter. Wells Fargo & Company MN now owns 988,690 shares of the pipeline company’s stock valued at $11,449,000 after purchasing an additional 194,258 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Genesis Energy by 1.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 4,188,175 shares of the pipeline company’s stock valued at $48,499,000 after acquiring an additional 59,458 shares during the period. Tortoise Index Solutions LLC raised its holdings in Genesis Energy by 12.7% in the 4th quarter. Tortoise Index Solutions LLC now owns 147,282 shares of the pipeline company’s stock worth $1,706,000 after purchasing an additional 16,618 shares during the period. Pinnacle Holdings LLC boosted its position in Genesis Energy by 5.4% during the fourth quarter. Pinnacle Holdings LLC now owns 207,630 shares of the pipeline company’s stock worth $2,404,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Genesis Energy by 9.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,136,712 shares of the pipeline company’s stock worth $24,743,000 after purchasing an additional 189,610 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

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.