Can Genesis Energy, L.P. (GEL)’s Tomorrow be Different? The Stock Formed a Bearish Double Bottom Pattern

February 15, 2018 - By Peter Erickson

Investors sentiment decreased to 0.81 in Q3 2017. Its down 0.37, from 1.18 in 2017Q2. It turned negative, as 25 investors sold Genesis Energy, L.P. shares while 44 reduced holdings. 20 funds opened positions while 36 raised stakes. 87.79 million shares or 1.92% less from 89.51 million shares in 2017Q2 were reported.
Pinnacle Hldgs Ltd Limited Liability Company reported 99,699 shares. Jacobus Wealth Mngmt Inc has 0.04% invested in Genesis Energy, L.P. (NYSE:GEL). 2,634 were accumulated by Financial Corp. Stifel Fincl Corporation invested in 454,749 shares. Benjamin F Edwards reported 2,255 shares. United Kingdom-based Gsa Capital Partners Llp has invested 0.2% in Genesis Energy, L.P. (NYSE:GEL). Fincl Management holds 2,600 shares. Green Square Ltd Liability invested in 0.04% or 8,882 shares. Renaissance Limited Liability invested 0% in Genesis Energy, L.P. (NYSE:GEL). Texas Yale Corp holds 0.41% or 179,240 shares. Bbr Ptnrs Llc holds 18,000 shares or 0.1% of its portfolio. M&T Bank stated it has 34,498 shares. Signaturefd Ltd Limited Liability Company holds 0.09% in Genesis Energy, L.P. (NYSE:GEL) or 25,475 shares. Jefferies Group Inc Ltd Limited Liability Company holds 62,465 shares. Royal Financial Bank Of Canada has 183,416 shares for 0% of their portfolio.

Since December 19, 2017, it had 1 insider buy, and 0 insider sales for $334,800 activity.

The chart of Genesis Energy, L.P. (GEL) shows a double bottom with $20.45 target or 4.00 % below today’s $21.30 share price. The 5 months chart pattern indicates high risk for the $2.61B company. It was reported on Feb, 15 by Finviz.com. If the $20.45 price target is reached, the company will be worth $104.44 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.75% or $0.16 during the last trading session, reaching $21.3. About 618,403 shares traded. Genesis Energy, L.P. (NYSE:GEL) has declined 14.17% since February 15, 2017 and is downtrending. It has underperformed by 30.87% the S&P500.

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

Among 14 analysts covering Genesis Energy LP (NYSE:GEL), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Genesis Energy LP had 38 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was downgraded by Credit Suisse to “Neutral” on Friday, November 4. RBC Capital Markets downgraded it to “Sector Perform” rating and $38 target in Friday, February 17 report. The stock of Genesis Energy, L.P. (NYSE:GEL) has “Equal-Weight” rating given on Friday, October 13 by Barclays Capital. The firm has “Market Perform” rating given on Friday, January 15 by Wells Fargo. UBS maintained Genesis Energy, L.P. (NYSE:GEL) rating on Tuesday, October 17. UBS has “Buy” rating and $39 target. As per Friday, October 13, the company rating was maintained by Robert W. Baird. RBC Capital Markets maintained Genesis Energy, L.P. (NYSE:GEL) rating on Friday, October 13. RBC Capital Markets has “Sector Perform” rating and $28 target. The firm has “Market Perform” rating given on Monday, January 18 by Wells Fargo. The stock of Genesis Energy, L.P. (NYSE:GEL) has “Outperform” rating given on Friday, February 19 by RBC Capital Markets. The rating was initiated by Janney Capital on Thursday, October 22 with “Buy”.

More recent Genesis Energy, L.P. (NYSE:GEL) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Enterprise Products Partners, Genesis Energy and Plains …” on January 26, 2018. Also Businesswire.com published the news titled: “Genesis Energy, LP Reports Fourth Quarter 2017 Results” on February 15, 2018. Businesswire.com‘s news article titled: “Genesis Energy, LP Sets Date for Release of Fourth Quarter and Year End …” with publication date: February 01, 2018 was also an interesting one.

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