Stock Investors Bid Up Shares of Genesis Energy, Up 1.1%

Published on Thu, 02/14/2013 - 11:29
By Robert Cotter in Market movers, GEL, amex:gel, genesis energy, market movers

Genesis Energy (AMEX:GEL) is a company whose shares are active, trading 1.1% higher to $44.46. The S&P is currently trading fractionally higher to 1,521 and the Dow Jones Industrial Average is trading fractionally higher to 13,989.

Over the past year, Genesis Energy has traded in a range of $26.70 to $44.46 and is now at $44.46, 67% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.6%.

Based on a current price of $44.46, Genesis Energy is currently 13.8% above its average consensus analyst price target of $38.31. The stock should discover initial support at its 50-day moving average (MA) of $37.61 and subsequent support at its 200-day MA of $32.94.

Genesis Energy, L.P. owns and operates crude oil gathering, marketing, and pipeline operations. The Company purchases and aggregates crude oil at the wellhead and at pipeline and terminal facilities for resale to refineries and other customers. Genesis Energy operates principally in Texas, Louisiana, New Mexico, Florida, Mississippi, Kansas, and Oklahoma.

By Robert Cotter
rcotter@fnno.com

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