Genesis Energy, L.P. (NYSE:GEL) Sees Significant Drop in Short Interest

01 Jan 2025, 19:48 by Amy Steele · The Cerbat Gem

Genesis Energy, L.P. (NYSE:GEL – Get Free Report) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 2,650,000 shares, a decline of 10.5% from the November 30th total of 2,960,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 452,800 shares, the short-interest ratio is presently 5.9 days.

Genesis Energy Stock Up 0.8 %

NYSE:GEL traded up $0.08 during midday trading on Wednesday, hitting $10.11. 306,849 shares of the company were exchanged, compared to its average volume of 391,683. Genesis Energy has a fifty-two week low of $9.86 and a fifty-two week high of $15.17. The company has a market capitalization of $1.24 billion, a PE ratio of -13.66 and a beta of 2.12. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 5.13. The company has a fifty day simple moving average of $11.29 and a 200 day simple moving average of $12.78.

Genesis Energy (NYSE:GEL – Get Free Report) last posted its earnings results on Thursday, October 31st. The pipeline company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). Genesis Energy had a negative return on equity of 0.31% and a negative net margin of 0.09%. The firm had revenue of $714.30 million for the quarter. During the same quarter in the prior year, the business earned $0.29 EPS.

Genesis Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 6.53%. This is a positive change from Genesis Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, October 31st. Genesis Energy’s dividend payout ratio (DPR) is -89.19%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GEL. Royal Bank of Canada lifted their price target on Genesis Energy from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Capital One Financial upgraded Genesis Energy from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 1st.

View Our Latest Research Report on Genesis Energy

Institutional Trading of Genesis Energy

Hedge funds have recently made changes to their positions in the company. Axiom Advisory LLC raised its position in Genesis Energy by 2.8% in the third quarter. Axiom Advisory LLC now owns 29,382 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 794 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Genesis Energy by 2.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,322 shares of the pipeline company’s stock valued at $491,000 after purchasing an additional 887 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Genesis Energy by 2.9% in the 3rd quarter. Captrust Financial Advisors now owns 31,720 shares of the pipeline company’s stock valued at $424,000 after purchasing an additional 900 shares in the last quarter. Custom Index Systems LLC lifted its stake in shares of Genesis Energy by 0.9% in the second quarter. Custom Index Systems LLC now owns 117,571 shares of the pipeline company’s stock valued at $1,682,000 after purchasing an additional 1,041 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Genesis Energy by 1.0% during the third quarter. Exchange Traded Concepts LLC now owns 132,904 shares of the pipeline company’s stock worth $1,777,000 after buying an additional 1,286 shares in the last quarter. Institutional investors and hedge funds own 66.82% of the company’s stock.

Genesis Energy Company Profile

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