Why Genesis Energy, L.P. (GEL) Stock Rallied Today

Stay Ahead of Wall Street. Find out what is happening to Genesis Energy, L.P. (NYSE:GEL) stock today? Its price is jumping 0.46 points, trading at $3.8 levels, and is up 13.77% from its previous close of $3.34. The shares seem to have an active trading volume day with a reported 1280856 contracts so far this session. GEL shares had a relatively better volume day versus average trading capacity of 1.68 million shares, but with a 0.11 billion float and a -28.78% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for GEL stock indicates that the average analyst price target is $14.14 per share. This means the stock has a potential increase of 272.11% from where the GEL share price has been trading recently.

During the recent trading session for Genesis Energy, L.P. (NYSE:GEL), the company witnessed their stock rise $0.53 over a week and tumble down $-7.2 from the price 20 days ago. When compared to their established 52-week high of $23.92, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/04/19. The recent low of $2.58 stood for a -84.11% since 03/18/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.27 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Genesis Energy, L.P., the two-week RSI stands at 28.47. This figure suggests that GEL stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current GEL readings is similarly very revealing as it has a stochastic reading of 11.43% at this stage. This figure means that GEL share price today is being overbought.

Technical chart claims that Genesis Energy, L.P. (GEL) would settle between $3.63/share to $3.91/share level. However, if the stock price goes below the $3.13 mark, then the market for Genesis Energy, L.P. becomes much weaker. If that happens, the stock price might even plunge as low as $2.91 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.76. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at UBS raised their recommendation on shares of GEL from Neutral to Buy in their opinion released on March 16. UBS analysts have lowered their rating of Genesis Energy, L.P. (NYSE:GEL) stock from Buy to Neutral in a separate flash note issued to investors on February 20. Analysts at Wells Fargo lowered the stock to a Underweight call from its previous Equal Weight recommendation, in a research note that dated back to January 07.

GEL equity has an average rating of 2.75, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Genesis Energy, L.P. (NYSE:GEL) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, GEL stock price is currently trading at 5.05X forward 12-month Consensus EPS estimates, and its P/E ratio is 18.6 while for the average stock in the same group, the multiple is 10.7. Genesis Energy, L.P. current P/B ratio of 0.2 means it is trading at a discount against its industry’s 1.

Genesis Energy, L.P. (GEL)’s current-quarter revenues are projected to climb by nearly 3.2% to hit $639960, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 2.6% from $2.48 billion to a noteworthy $2.55 billion. At the other end of the current quarter income statement, Genesis Energy, L.P. is expected to see its adjusted earnings surge by roughly 450% to hit $0.07 per share. For the fiscal year, GEL’s earnings are projected to climb by roughly 105.6% to hit $0.37 per share.