Genesis Energy L.P. [NYSE: GEL] jumped around 0.47 points on Friday, while shares priced at $10.36 at the close of the session, up 4.75%. The company report on August 8, 2023 at 9:00 AM that Genesis Energy, L.P. Authorizes Common Unit Repurchase Program.
Genesis Energy, L.P. (NYSE: GEL) today announced that its Board of Directors has approved a common equity repurchase program authorizing the repurchase of up to 10 percent of its outstanding Class A common units (the “Program”).
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Grant Sims, Chairman and CEO, commented, “As discussed in last week’s earnings release, the outlook for Genesis remains constructive, and we continue to have a clear line of sight to generating cash flow of roughly $200 to $300 million per year after certain cash obligations (including interest payments, preferred and existing common unit distributions, maintenance capital requirements, principal payments on our Alkali senior secured notes, de minimus growth capital, etc.) starting in late 2024 and accelerating into 2025. We believe our current equity valuation does not reflect the strength of our asset base or the long-term outlook of our market-leading businesses. Given this backdrop, we believe this is an appropriate time to institute a repurchase program which we intend to manage in a prudent and balanced manner consistent with our priority of maintaining our targeted long-term leverage ratio over time.
Genesis Energy L.P. stock is now 1.47% up from its year-to-date (YTD) trading value. GEL Stock saw the intraday high of $10.36 and lowest of $9.945 per share. The company’s 52-week high price is 12.37, which means current price is +28.70% above from all time high which was touched on 03/03/23.
Compared to the average trading volume of 570.02K shares, GEL reached a trading volume of 484821 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Genesis Energy L.P. [GEL]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GEL shares is $12.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GEL stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CapitalOne have made an estimate for Genesis Energy L.P. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 28, 2023.
The Average True Range (ATR) for Genesis Energy L.P. is set at 0.34, with the Price to Sales ratio for GEL stock in the period of the last 12 months amounting to 0.40. The Price to Book ratio for the last quarter was 2.36, with the Price to Cash per share for the same quarter was set at 0.10.
How has GEL stock performed recently?
Genesis Energy L.P. [GEL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.50. With this latest performance, GEL shares gained by 23.63% in over the last four-week period, additionally sinking by -12.79% over the last 6 months – not to mention a drop of -10.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GEL stock in for the last two-week period is set at 62.60, with the RSI for the last a single of trading hit 68.43, and the three-weeks RSI is set at 58.89 for Genesis Energy L.P. [GEL]. The present Moving Average for the last 50 days of trading for this stock 9.55, while it was recorded at 9.92 for the last single week of trading, and 10.38 for the last 200 days.
Genesis Energy L.P. [GEL]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Genesis Energy L.P. [GEL] shares currently have an operating margin of +11.53 and a Gross Margin at +13.66. Genesis Energy L.P.’s Net Margin is presently recorded at +2.71.
Return on Total Capital for GEL is now 6.14, given the latest momentum, and Return on Invested Capital for the company is 1.58. Return on Equity for this stock inclined to 5.22, with Return on Assets sitting at 1.23. When it comes to the capital structure of this company, Genesis Energy L.P. [GEL] has a Total Debt to Total Equity ratio set at 245.41. Additionally, GEL Total Debt to Total Capital is recorded at 71.05, with Total Debt to Total Assets ending up at 56.36. Long-Term Debt to Equity for the company is recorded at 624.01, with the Long-Term Debt to Total Capital now at 70.69.
Reflecting on the efficiency of the workforce at the company, Genesis Energy L.P. [GEL] managed to generate an average of $35,779 per employee. Receivables Turnover for the company is 4.91 with a Total Asset Turnover recorded at a value of 0.45.Genesis Energy L.P.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.
Earnings analysis for Genesis Energy L.P. [GEL]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Genesis Energy L.P. go to 44.10%.
Insider trade positions for Genesis Energy L.P. [GEL]
The top three institutional holders of GEL stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in GEL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in GEL stock with ownership which is approximately 5.7381%.
