Short Interest in Genesis Energy, L.P. (NYSE:GEL) Declines By 16.3%

Genesis Energy, L.P. (NYSE:GEL - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,440,000 shares, a decrease of 16.3% from the March 31st total of 4,110,000 shares. Based on an average daily volume of 707,500 shares, the days-to-cover ratio is presently 4.9 days. Currently, 3.9% of the shares of the company are short sold.

Genesis Energy Stock Performance

NYSE:GEL traded down $0.39 during midday trading on Thursday, hitting $13.98. The company's stock had a trading volume of 225,201 shares, compared to its average volume of 485,029. The firm has a market cap of $1.71 billion, a P/E ratio of -11.27 and a beta of 1.08. 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 firm's 50 day moving average is $14.04 and its 200-day moving average is $12.18. Genesis Energy has a fifty-two week low of $9.86 and a fifty-two week high of $16.44.

Genesis Energy (NYSE:GEL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The pipeline company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.53). The firm had revenue of $725.55 million during the quarter. Genesis Energy had a negative net margin of 2.16% and a negative return on equity of 7.71%.

Genesis Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.66 annualized dividend and a yield of 4.72%. Genesis Energy's dividend payout ratio (DPR) is -53.23%.

Hedge Funds Weigh In On Genesis Energy

Several large investors have recently bought and sold shares of GEL. Sowell Financial Services LLC lifted its holdings in shares of Genesis Energy by 1.4% in the 1st quarter. Sowell Financial Services LLC now owns 93,651 shares of the pipeline company's stock valued at $1,469,000 after buying an additional 1,250 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Genesis Energy by 4.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 36,520 shares of the pipeline company's stock valued at $369,000 after acquiring an additional 1,584 shares during the last quarter. Mariner LLC boosted its holdings in Genesis Energy by 7.0% in the fourth quarter. Mariner LLC now owns 35,488 shares of the pipeline company's stock valued at $359,000 after acquiring an additional 2,321 shares during the last quarter. Arrow Investment Advisors LLC boosted its position in Genesis Energy by 21.1% during the 1st quarter. Arrow Investment Advisors LLC now owns 13,686 shares of the pipeline company's stock worth $215,000 after purchasing an additional 2,381 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Genesis Energy by 6.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 48,246 shares of the pipeline company's stock worth $488,000 after acquiring an additional 2,717 shares during the period. Institutional investors and hedge funds own 66.82% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada boosted their target price on Genesis Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Monday, March 17th. Wells Fargo & Company upgraded Genesis Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $15.00 to $18.00 in a research report on Monday, March 17th.

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.