Genesis Energy, L.P. (NYSE:GEL) Sees Significant Increase in Short Interest

Genesis Energy, L.P. (NYSE:GEL) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 2,550,000 shares, an increase of 9.9% from the May 31st total of 2,320,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 408,700 shares, the short-interest ratio is currently 6.2 days.

Genesis Energy Stock Performance

NYSE GEL opened at $14.50 on Tuesday. Genesis Energy has a twelve month low of $8.05 and a twelve month high of $14.51. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 4.39. The stock has a market cap of $1.78 billion, a P/E ratio of 42.65 and a beta of 2.11. The company’s 50-day simple moving average is $12.98 and its 200 day simple moving average is $12.06.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, May 2nd. The pipeline company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The company had revenue of $770.11 million for the quarter. Genesis Energy had a net margin of 4.14% and a return on equity of 14.70%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) earnings per share.

Genesis Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, April 29th. This represents a $0.60 annualized dividend and a yield of 4.14%. Genesis Energy’s dividend payout ratio is currently 176.48%.

Institutional Investors Weigh In On Genesis Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its holdings in Genesis Energy by 479.1% during the 4th quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock valued at $16,412,000 after purchasing an additional 1,172,536 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 acquiring an additional 194,258 shares during the last quarter. Chickasaw Capital Management LLC boosted its holdings in shares of Genesis Energy by 7.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 3,852,734 shares of the pipeline company’s stock worth $44,615,000 after acquiring an additional 279,836 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Genesis Energy during the 1st quarter worth approximately $1,372,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Genesis Energy by 38.8% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,408,710 shares of the pipeline company’s stock valued at $16,313,000 after purchasing an additional 394,055 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

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.