Short Interest in Genesis Energy, L.P. (NYSE:GEL) Declines By 5.6%

Genesis Energy, L.P. (NYSE:GEL) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,700,000 shares, a drop of 5.6% from the March 15th total of 1,800,000 shares. Based on an average daily trading volume, of 356,200 shares, the days-to-cover ratio is presently 4.8 days. Currently, 1.6% of the company’s stock are short sold.

Genesis Energy Trading Down 0.5 %

NYSE:GEL opened at $11.74 on Tuesday. The stock has a fifty day moving average price of $11.28 and a two-hundred day moving average price of $11.46. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 53.36 and a beta of 2.05. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.86 and a current ratio of 1.00. Genesis Energy has a 1 year low of $8.05 and a 1 year high of $12.78.

Genesis Energy (NYSE:GEL) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.31). Genesis Energy had a return on equity of 13.34% and a net margin of 3.71%. The business had revenue of $774.10 million during the quarter. During the same period last year, the firm earned $0.15 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year.

Genesis Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Monday, April 29th. Genesis Energy’s dividend payout ratio is currently 272.73%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Genesis Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th.

Institutional Trading of Genesis Energy

A number of large investors have recently made changes to their positions in GEL. Alps Advisors Inc. boosted its stake in shares of Genesis Energy by 12.9% during the third quarter. Alps Advisors Inc. now owns 18,765,802 shares of the pipeline company’s stock valued at $193,663,000 after acquiring an additional 2,141,538 shares during the last quarter. UBS Group AG boosted its stake in Genesis Energy by 479.1% in the 4th quarter. UBS Group AG now owns 1,417,274 shares of the pipeline company’s stock worth $16,412,000 after buying an additional 1,172,536 shares during the last quarter. Invesco Ltd. boosted its stake in Genesis Energy by 5.6% in the 3rd quarter. Invesco Ltd. now owns 17,421,425 shares of the pipeline company’s stock worth $179,789,000 after buying an additional 924,567 shares during the last quarter. Morgan Stanley boosted its stake in Genesis Energy by 35.7% in the 4th quarter. Morgan Stanley now owns 3,346,220 shares of the pipeline company’s stock worth $34,165,000 after buying an additional 879,674 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Genesis Energy by 12.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,259,537 shares of the pipeline company’s stock worth $60,905,000 after buying an additional 587,429 shares during 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.