Genesis Energy, L.P. (NYSE:GEL) Short Interest Up 11.8% in September

Genesis Energy, L.P. (NYSE:GEL) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 6,620,000 shares, an increase of 11.8% from the August 30th total of 5,920,000 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average daily volume of 609,100 shares, the short-interest ratio is presently 10.9 days.

In related news, VP Ryan S. Sims acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $19.94 per share, for a total transaction of $59,820.00. Following the completion of the transaction, the vice president now directly owns 11,300 shares in the company, valued at approximately $225,322. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Edward T. Flynn acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $20.12 per share, for a total transaction of $100,600.00. Following the completion of the transaction, the insider now owns 48,916 shares of the company’s stock, valued at $984,189.92. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,000 shares of company stock worth $260,270. Company insiders own 0.72% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its stake in shares of Genesis Energy by 10.9% during the third quarter. CIBC Private Wealth Group LLC now owns 22,552 shares of the pipeline company’s stock valued at $485,000 after buying an additional 2,214 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of Genesis Energy by 2.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 737,700 shares of the pipeline company’s stock valued at $15,838,000 after buying an additional 20,000 shares during the last quarter. Nwam LLC grew its stake in shares of Genesis Energy by 5.7% during the third quarter. Nwam LLC now owns 16,144 shares of the pipeline company’s stock valued at $347,000 after buying an additional 865 shares during the last quarter. RFG Advisory LLC bought a new position in shares of Genesis Energy during the second quarter valued at approximately $211,000. Finally, Cresset Asset Management LLC bought a new position in shares of Genesis Energy during the second quarter valued at approximately $1,939,000. 71.32% of the stock is currently owned by hedge funds and other institutional investors.

GEL has been the topic of a number of recent research reports. UBS Group decreased their price objective on Genesis Energy from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Raymond James downgraded Genesis Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 26th. They noted that the move was a valuation call. Zacks Investment Research downgraded Genesis Energy from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated a “buy” rating and set a $27.00 price objective on shares of Genesis Energy in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.20.

Shares of GEL traded down $0.45 during mid-day trading on Wednesday, reaching $21.04. 367,400 shares of the company’s stock traded hands, compared to its average volume of 570,237. The stock has a market cap of $2.66 billion, a P/E ratio of -263.00 and a beta of 1.26. The stock’s 50-day moving average is $21.57 and its two-hundred day moving average is $22.01. Genesis Energy has a 12 month low of $17.55 and a 12 month high of $25.40. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.24 and a quick ratio of 1.00.

Genesis Energy (NYSE:GEL) last released its earnings results on Tuesday, August 6th. The pipeline company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $634.80 million for the quarter, compared to analysts’ expectations of $685.95 million. Genesis Energy had a return on equity of 7.09% and a net margin of 1.15%. The company’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Research analysts predict that Genesis Energy will post 0.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Wednesday, October 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 10.46%. Genesis Energy’s dividend payout ratio is -2,750.00%.

About Genesis Energy

Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.

Featured Article: What is a price target?

Receive News & Ratings for Genesis Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genesis Energy and related companies with MarketBeat.com's FREE daily email newsletter.