Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 5.3% in January

Genesis Energy, L.P. (NYSE:GEL) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,790,000 shares, a growth of 5.3% from the December 31st total of 2,650,000 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 488,900 shares, the days-to-cover ratio is presently 5.7 days.

Genesis Energy Price Performance

Shares of NYSE:GEL opened at $10.51 on Tuesday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -14.21 and a beta of 2.14. 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 business’s 50 day simple moving average is $10.65 and its 200-day simple moving average is $12.17. Genesis Energy has a 12 month low of $9.86 and a 12 month high of $15.17.

Genesis Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 6.28%. The ex-dividend date is Friday, January 31st. Genesis Energy’s dividend payout ratio (DPR) is -89.19%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GEL. Capital One Financial raised Genesis Energy from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada increased 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.

Hedge Funds Weigh In On Genesis Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ING Groep NV lifted its holdings in Genesis Energy by 12.1% in the 4th 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 in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Genesis Energy in the 4th quarter valued at $920,000. Manning & Napier Advisors LLC lifted its stake in shares of Genesis Energy by 40.0% during the fourth quarter. Manning & Napier Advisors LLC now owns 350,000 shares of the pipeline company’s stock worth $3,538,000 after purchasing an additional 100,000 shares in the last quarter. Mutual Advisors LLC boosted its holdings in Genesis Energy by 101.8% in the 4th quarter. Mutual Advisors LLC now owns 31,912 shares of the pipeline company’s stock worth $341,000 after acquiring an additional 16,099 shares during the period. Finally, ARS Investment Partners LLC increased its stake in Genesis Energy by 35.9% during the 4th quarter. ARS Investment Partners LLC now owns 46,000 shares of the pipeline company’s stock worth $465,000 after buying an additional 12,154 shares during the period. Institutional investors and hedge funds 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.