Invesco Advisers, Inc. recently announced the acquisition of new stake in Genesis Energy L.P. (NYSE:GEL). The institutional investor has increased its shareholding in the Energy company by 3.14% to 19.71 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 16.09% valued currently at $131.48 million. In addition, JPMorgan Securities LLC (Investme.. raised its holdings by 3.88 million to 8.52 million shares. And RR Advisors LLC has lifted its position by 42.49% or 1.54 million shares – to 5.18 million shares.
With over 2.03 million Genesis Energy L.P. (GEL) shares trading Friday and a closing price of $5.53 on the day, the dollar volume was approximately $11.22 million. The shares have shown a positive weekly performance of 2.22% and its price on 08/28/20 gained nearly 3.95%. Currently, there are 122.58M common shares owned by the public and among those 105.78M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for GEL have a consensus price objective of $7.90. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $7.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Genesis Energy L.P. stock is 2.60 for the next 12 months. But an upside of 44.7% will see the stock hit the forecast high price target while mean target price for the stock is $7.00.
Insiders at the company have transacted a total of 72 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 451,909 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 20,252 shares.
The top 3 mutual fund holders in Genesis Energy L.P. are Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Invesco Oppenheimer SteelPath MLP. Alerian MLP ETF owns 12.9 million shares of the company’s stock, all valued at over $86.05 million. The company sold 4298.0 shares recently to bring their total holdings to about 10.53% of the shares outstanding. Invesco Oppenheimer SteelPath MLP bought 0.6 million shares to bring its total holdings to over 7.81 million shares at a value of $52.09 million. Invesco Oppenheimer SteelPath MLP now owns shares totaling to 6.37% of the shares outstanding.
Shares of Genesis Energy L.P. (NYSE: GEL) opened at $5.38, up $0.06 from a prior closing price of $5.32. However, the script later closed the day at $5.53, up 3.95%. The company’s stock has a 5-day price change of 2.22% and -31.22% over the past three months. GEL shares are trading -73.00% year to date (YTD), with the 12-month market performance down to -73.39% lower. It has a 12-month low price of $2.58 and touched a high of $23.65 over the same period. Currently, 2.03 million shares have been traded, compared to an average intraday trading volume of 1.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.61%, -16.78%, and -49.83% respectively.
Institutional ownership of Genesis Energy L.P. (NYSE: GEL) shares accounts for 81.60% of the company’s 122.58M shares outstanding. Mutual fund holders own 24.60%, while other institutional holders and individual stakeholders account for 39.26% and 20.30% respectively.
It has a market capitalization of $651.88M and a beta (3y monthly) value of 2.48. The earnings-per-share (ttm) stands at -$2.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.25% over the week and 6.68% over the month.
Analysts forecast that Genesis Energy L.P. (GEL) will achieve an EPS of -$0.02 for the current quarter, $0.03 for the next quarter and $0.32 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of $0.14. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 128.40%, and 115.10% over the next financial year. EPS should grow at an annualized rate of 29.10% over the next five years, compared to -31.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Genesis Energy L.P. (GEL) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 3 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GEL, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on March 16, 2020, with the firm’s price target at $15-$8. UBS coverage for the Genesis Energy L.P. (GEL) stock in a research note released on February 20, 2020 offered a Neutral rating with a price target of $15. Wells Fargo was of a view on January 07, 2020 that the stock is Underweight, while Raymond James gave the stock Mkt Perform rating on June 26, 2019, issuing a price target of. RBC Capital Mkts on their part issued Outperform rating on November 02, 2018.