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Friday, January 21, 2022

Genesis Energy L.P. (GEL) Recent Earnings Shows Major Promise

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Many stocks have been testing new highs in 2020, and one of the most notable is Genesis Energy L.P. (GEL). Currently, GEL is trading at $11.13 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $9.93.

To add more color to this target, the company’s high over the last year is $23.84 and the low is $2.58. Over the last 52 weeks, GEL is down -53.31% while the S&P 500 is up 1.21%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, GEL reported a profit of $142.89 million. Genesis Energy L.P. also saw revenues increase to $539.92 million. In addition, GEL has free cash flow of $51.55 million as of 03-2020 The company’s EBITDA came in at $142.12 million which compares well with its peers.

GEL booked profit margins of 1.30%, its Return on Equity (ROE) is 2.10%, and its Return on Assets is 0.50%. All told, it is clear that, GEL needs to be on your watchlist.

About Genesis Energy L.P.

If readers are unfamiliar, Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company’s Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico. This segment owns interests in approximately 1,422 miles of crude oil pipelines located offshore in the Gulf of Mexico. Its Sodium Minerals and Sulfur Services segment provides sulfur-extraction services to refining operations; and operates storage and transportation assets. This segment provides services to 10 refining operations; and sells sodium hydrosulfide and caustic soda to industrial and commercial companies involved in the mining of base metals. The company’s Onshore Facilities and Transportation segment provides onshore facilities and transportation services to Gulf Coast crude oil refineries and producers by purchasing, transporting, storing, blending, and marketing crude oil and refined products. It operates a suite of approximately 200 trucks, 300 trailers, 397 railcars, and terminals and tankage with 4.3 million barrels of storage capacity in various locations along the Gulf Coast. This segment also transports crude oil and carbon dioxide (CO2). It owns four onshore crude oil pipeline systems with approximately 460 miles of pipe located primarily in Alabama, Florida, Louisiana, Mississippi, and Texas; and two CO2 pipelines with approximately 269 miles of pipe. Its Marine Transportation segment offers waterborne transportation of petroleum products and crude oil in North America. This segment owns a fleet of 91 barges with a combined transportation capacity of 3.2 million barrels; and 42 push/tow boats. In addition, the company produces natural soda ash. Genesis Energy, LLC serves as a general partner of the company. The company was founded in 1996 and is headquartered in Houston, Texas.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GEL has a short ratio of 3.06 and outstanding shares of 122.58M.

Company Outlook

GEL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.0 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.25. Genesis Energy L.P. GEL also noted assets of $6.43 billion at the end of the last quarter. Investors should also keep an eye on sector updates as GEL has historically followed its peers on positive news.

All told, Genesis Energy L.P. GEL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GEL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Genesis Energy L.P. GEL is now commanding a market cap of 1.22B and a float of 107.07M. GEL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GEL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in GEL, either long or short, and we have not been compensated for this article.

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