Invesco Advisers, Inc. has recently announced that it has increased stake in Genesis Energy L.P. (NYSE:GEL) by 3.14%. After grabbing 19.71 million shares, the institutional investor is now in possession of 0.6 million shares of the Energy Company. The new investment brought the stake of investor firm to 16.09% having worth around $131.48 million. Moreover, JPMorgan Securities LLC (Investme.. increased its share by 3.88 million to have a control over 8.52 million shares. And RR Advisors LLC raised its holdings to 1.54 million shares by acquiring 5.18 million shares or 4.23% of the stake.
Genesis Energy L.P. (GEL) concluded trading on 08/26/20 at a closing price of $5.17, with 2.11 million shares of worth about $10.91 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -13.40% during that period and on Wednesday the price saw a loss of about -2.45%. Currently the company’s common shares owned by public are about 122.58M shares, out of which, 105.78M shares are available for trading.
Analysts also issued an outlook of 2.60 for the Genesis Energy L.P. stock for next 12 months.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 72 times over the past 12 months. They bought 451,909 shares in 47 of the transactions. In 25 selling transactions, insiders dumped 20,252 shares.
Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Invesco Oppenheimer SteelPath MLP are the top 3 mutual funds which are holding stakes in Genesis Energy L.P. Alerian MLP ETF is currently holding 12.9 million shares of worth totaling $86.05 million. The company recently came selling 4298.0 shares which brought its stake up to 10.53% of the company’s outstanding shares. Invesco Oppenheimer SteelPath MLP, after buying 7.81 million shares, have now control over 6.37% of the stake in the company. It holds 0.6 million shares of worth $52.09 million.
Genesis Energy L.P. (NYSE: GEL) started trading at $5.36, above $0.06 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $5.17, or with a loss of -2.45%. Stock saw a price change of -13.40% in past 5 days and over the past one month there was a price change of -23.75%. Year-to-date (YTD), GEL shares are showing a performance of -74.76% which decreased to -73.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.58 but also hit the highest price of $23.65 during that period. While comparing its average daily trading volume of 1.25 million shares, we see that about 2.11 million changed hands on the day. The stock is currently trading -17.06% below its 20-day simple moving average (SMA20), while that difference is down -23.99% for SMA50 and it goes to -53.68% lower than SMA200.
Invesco Advisers, Inc. acquired 19.71 million shares of Genesis Energy L.P. having value of about $131.48 million. Data submitted at the U.S SEC by Invesco Advisers, Inc. revealed that the firm now holds 0.6 million shares in the company valued at close to $3101782.86, or have control over 3.14% stake in the company. Genesis Energy L.P. (NYSE: GEL) currently have 122.58M outstanding shares and institutions hold larger chunk of about 81.60% of that. Holding of mutual funds in the company is about 23.45% while other institutional holders and individual stake holders have control over 40.41% and 20.30% of the stake respectively.
The stock has a current market capitalization of $675.72M and its 3Y-monthly beta is at 2.60. It has posted earnings per share of -$2.75 in the same period. It has Quick Ratio of 1.20 while making debt-to-equity ratio of 4.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GEL, volatility over the week remained 6.56% while standing at 6.84% over the month.
Analysts are in expectations that Genesis Energy L.P. (GEL) stock would likely to be making an EPS of -$0.02 in the current quarter, while forecast for next quarter ESPS is $0.03 and it is $0.32 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.2 which is $0.14 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 128.40% while it is estimated to increase by 115.10% in next year. EPS is likely to grow at an annualized rate of 29.10% for next 5-years, compared to annual growth of -31.70% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Genesis Energy L.P. (GEL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.60. Out of those 6 Wall Street analysts, 2 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on March 16, 2020 offering a Buy rating for the stock and assigned a target price range of between $15 and $8 to it. Coverage by UBS stated Genesis Energy L.P. (GEL) stock as a Neutral in their note to investors on February 20, 2020, suggesting a price target of $15 for the stock. On January 07, 2020, Wells Fargo Downgrade their recommendations, while on June 26, 2019, Raymond James Downgrade their ratings for the stock with a price target of. Stock get an Outperform rating from RBC Capital Mkts on November 02, 2018.