Genesis Energy L.P. (NYSE:GEL) price on Thursday, October 07, rose 3.40% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $10.95.
A look at the stock’s price movement, the close in the last trading session was $10.59, moving within a range at $10.51 and $11.08. The beta value (5-Year monthly) was 2.69. Turning to its 52-week performance, $12.78 and $3.78 were the 52-week high and 52-week low respectively. Overall, GEL moved 37.05% over the past month.
Genesis Energy L.P.’s market cap currently stands at around $1.32 billion, with investors looking forward to this quarter’s earnings report slated for Nov 03, 2021 – Nov 08, 2021. The company has a Forward Dividend ratio of 0.60, with its dividend yield at 5.48%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.07, which has seen fiscal year 2021 EPS growth forecast to increase to -$0.73 and about $0.63 for fiscal year 2022. Per the data, EPS growth is expected to be 80.60% for 2021 and 186.30% for the next financial year.
Analysts have a consensus estimate of $411.73 million for the company’s revenue for the quarter, with a low and high estimate of $308.76 million and $514.7 million respectively. The average forecast suggests down to a -7.10% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $1.96 billion, representing a 7.60% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that GEL is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 2 recommend GEL as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
GEL’s current price about 20.11% and 24.97% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 71.19, while 7-day volatility ratio is 6.15% and 5.37% in the 30-day chart. Further, Genesis Energy L.P. (GEL) has a beta value of 2.47, and an average true range (ATR) of 0.51. Analysts have given the company’s stock an average 52-week price target of $11.10, forecast between a low of $10.00 and high of $12.50. Looking at the price targets, the low is 8.68% off current price level while to achieve the yearly target high, price needs to move -14.16%. Nonetheless, investors will most likely welcome a -0.46% jump to $11.00 which is the analysts’ median price.
In the market, a comparison of Genesis Energy L.P. (GEL) and its peers suggest the former has performed considerably stronger. Data shows GEL’s intraday price has changed 3.40% in last session and 130.04% over the past year. Comparatively, NuStar Energy L.P. (NS) has moved 2.28% on the day and only 46.59% in the past 12 months. Looking at another peer, we see that HollyFrontier Corporation (HFC) price has dipped -1.21% on the day. However, the stock is 65.56% off its price a year ago. Moreover, Delek US Holdings Inc. (DK) is also up 2.41% in trading on the day while keeping a an uptrend of 53.57% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.83% and 0.98% respectively in the last trading.
If we refocus on Genesis Energy L.P. (NYSE:GEL), historical trading data shows that trading volumes averaged 1.54 million over the past 10 days and 842.95K over the past 3 months. The company’s latest data on shares outstanding shows there are 122.58 million shares.
The 8.30% of Genesis Energy L.P.’s shares are in the hands of company insiders while institutional holders own 68.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.28 million on May 27, 2021, giving us a short ratio of 4.83. The data shows that as of May 27, 2021 short interest in Genesis Energy L.P. (GEL) stood at 2.67% of shares outstanding, with shares short rising to 2.45 million registered in Apr 29, 2021. Current price change has pushed the stock 76.33% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GEL stock continues to rise going into the next quarter.