Gibson Energy (TSE:GEI) Sets New 12-Month High – Here’s What Happened

Gibson Energy Inc. (TSE:GEI) shares reached a new 52-week high during mid-day trading on Friday. The stock traded as high as C$33.70 and last traded at C$33.65, with a volume of 52,897 shares traded. The stock had previously closed at C$33.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GEI shares. JPMorgan Chase & Co. boosted their price target on Gibson Energy from C$29.00 to C$30.00 in a research note on Thursday, July 30th. National Bank Financial raised their price objective on Gibson Energy from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. BMO Capital Markets boosted their price objective on shares of Gibson Energy from C$29.00 to C$32.00 in a report on Tuesday, July 28th. Raymond James Financial upped their target price on Gibson Energy from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, ATB Cormark Capital Markets upped their price objective on shares of Gibson Energy from C$34.00 to C$35.00 in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$32.90.

Gibson Energy Stock Performance

The stock’s 50 day moving average price is C$31.64 and its 200 day moving average price is C$30.26. The company has a market cap of C$5.82 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 1.85 and a beta of -0.03. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 294.95.

Gibson Energy (TSE:GEI) last announced its quarterly earnings results on Monday, July 27th. The company reported C$0.48 EPS for the quarter. Gibson Energy had a net margin of 1.32% and a return on equity of 18.23%. The company had revenue of C$4.83 billion for the quarter.

Gibson Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 5.3%. Gibson Energy’s dividend payout ratio is presently 176.00%.

About Gibson Energy

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company’s operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.