Is Buying Genesis Energy, L.P. (GEL) Here a Winning Strategy? The Stock Formed Wedge Up

October 2, 2018 - By Darrin Black

Genesis Energy, L.P. (NYSE:GEL) Logo

Investors sentiment increased to 0.93 in Q2 2018. Its up 0.03, from 0.9 in 2018Q1. It improved, as 17 investors sold Genesis Energy, L.P. shares while 40 reduced holdings. 20 funds opened positions while 33 raised stakes. 86.56 million shares or 0.75% more from 85.91 million shares in 2018Q1 were reported.
Price Capital has invested 0.34% in Genesis Energy, L.P. (NYSE:GEL). Bbr Ltd Liability Co stated it has 0.07% of its portfolio in Genesis Energy, L.P. (NYSE:GEL). Moreover, Winslow Evans And Crocker Incorporated has 0% invested in Genesis Energy, L.P. (NYSE:GEL). Parkside Bancorporation Trust has 0.2% invested in Genesis Energy, L.P. (NYSE:GEL). 5,010 were accumulated by Monetary Gp Incorporated. Illinois-based Citadel Advsr Ltd has invested 0% in Genesis Energy, L.P. (NYSE:GEL). Glenmede Company Na invested in 135,368 shares. Hilton Cap Mngmt Limited Company accumulated 5,000 shares. Blackrock Inc reported 971,317 shares. Captrust Financial Advsrs invested in 0% or 1,735 shares. Jnba Financial Advsr holds 1,000 shares or 0% of its portfolio. Keybank Association Oh holds 0% or 34,004 shares in its portfolio. M&T Natl Bank reported 14,465 shares. Argent Trust reported 0.98% of its portfolio in Genesis Energy, L.P. (NYSE:GEL). Creative Planning owns 0.01% invested in Genesis Energy, L.P. (NYSE:GEL) for 136,269 shares.

Since September 5, 2018, it had 1 buy, and 0 selling transactions for $30,015 activity.

The stock of Genesis Energy, L.P. (GEL) formed an up wedge with $25.32 target or 4.00 % above today’s $24.35 share price. The 7 months wedge indicates low risk for the $2.99B company. If the $25.32 price target is reached, the company will be worth $119.40 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 2.40% or $0.57 during the last trading session, reaching $24.35. About 638,666 shares traded. Genesis Energy, L.P. (NYSE:GEL) has declined 7.11% since October 2, 2017 and is downtrending. It has underperformed by 22.73% the S&P500.

Analysts await Genesis Energy, L.P. (NYSE:GEL) to report earnings on November, 2. They expect $0.20 EPS, down 9.09 % or $0.02 from last year’s $0.22 per share. GEL’s profit will be $24.52M for 30.44 P/E if the $0.20 EPS becomes a reality. After $-0.05 actual EPS reported by Genesis Energy, L.P. for the previous quarter, Wall Street now forecasts -500.00 % EPS growth.

Genesis Energy, L.P. (NYSE:GEL) Ratings Coverage

Among 3 analysts covering Genesis Energy (NYSE:GEL), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Genesis Energy had 4 analyst reports since April 17, 2018 according to SRatingsIntel. The firm has “Equal-Weight” rating given on Wednesday, July 11 by Barclays Capital. The firm has “Buy” rating given on Thursday, August 30 by UBS. The company was maintained on Tuesday, April 17 by Barclays Capital. The firm has “Neutral” rating given on Tuesday, September 4 by Robert W. Baird.

Another recent and important Genesis Energy, L.P. (NYSE:GEL) news was published by which published an article titled: “Genesis Alkali Raises Prices of USP and Industrial Grades of Sodium Bicarbonate” on October 01, 2018.

Genesis Energy, L.P. operates in the midstream segment of the natural gas and crude oil industry. The company has market cap of $2.99 billion. It operates through four divisions: Offshore Pipeline Transportation, Refinery Services, Marine Transportation, and Supply and Logistics. It currently has negative earnings. The Offshore Pipeline Transportation segment engages in the pipeline transportation and processing of natural gas and crude oil.

Genesis Energy, L.P. (NYSE:GEL) Institutional Positions Chart

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