Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 6.3% in October

Genesis Energy, L.P. (NYSE:GEL) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 3,380,000 shares, a growth of 6.3% from the September 30th total of 3,180,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average trading volume of 346,700 shares, the short-interest ratio is currently 9.7 days.

Insider Buying and Selling

In other news, VP Garland G. Gaspard purchased 2,261 shares of Genesis Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $13.27 per share, for a total transaction of $30,003.47. Following the transaction, the vice president now owns 19,525 shares of the company’s stock, valued at approximately $259,096.75. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Genesis Energy during the third quarter valued at about $139,000. Creative Planning grew its holdings in shares of Genesis Energy by 1.9% during the third quarter. Creative Planning now owns 3,105,454 shares of the pipeline company’s stock valued at $41,520,000 after buying an additional 59,263 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Genesis Energy by 1.0% during the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock valued at $1,777,000 after buying an additional 1,286 shares during the last quarter. Axiom Advisory LLC grew its holdings in shares of Genesis Energy by 2.8% during the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock valued at $400,000 after buying an additional 794 shares during the last quarter. Finally, ELCO Management Co. LLC grew its holdings in shares of Genesis Energy by 10.7% during the second quarter. ELCO Management Co. LLC now owns 188,304 shares of the pipeline company’s stock valued at $2,695,000 after buying an additional 18,170 shares during the last quarter. 66.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEL shares. StockNews.com lowered shares of Genesis Energy from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Genesis Energy Trading Down 2.7 %

NYSE GEL traded down $0.31 during mid-day trading on Friday, reaching $11.00. 699,329 shares of the stock were exchanged, compared to its average volume of 368,943. Genesis Energy has a one year low of $10.01 and a one year 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 $1.35 billion, a P/E ratio of -87.38 and a beta of 2.10. The stock has a 50 day simple moving average of $13.24 and a 200-day simple moving average of $13.27.

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

Genesis Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.165 dividend. This is an increase from Genesis Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 6.00%. The ex-dividend date is Thursday, October 31st. Genesis Energy’s payout ratio is -461.50%.

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.