Gibson Energy (TSE:GEI) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of Gibson Energy Inc. (TSE:GEI) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$32.09 and traded as high as C$32.74. Gibson Energy shares last traded at C$32.56, with a volume of 277,707 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Gibson Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Scotiabank boosted their price target on shares of Gibson Energy from C$29.00 to C$31.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. ATB Cormark Capital Markets increased their price objective on shares of Gibson Energy from C$37.00 to C$39.00 and gave the company an “outperform” rating in a research note on Wednesday, November 4th. BMO Capital Markets raised their price objective on shares of Gibson Energy from C$31.00 to C$33.00 and gave the stock a “market perform” rating in a report on Tuesday, November 3rd. Finally, Raymond James Financial lifted their target price on shares of Gibson Energy from C$37.00 to C$38.00 and gave the company an “outperform” rating in a research report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$34.20.

Gibson Energy Price Performance

The company has a debt-to-equity ratio of 296.09, a quick ratio of 0.87 and a current ratio of 0.85. The firm has a market cap of C$5.62 billion, a P/E ratio of 27.83, a P/E/G ratio of 1.85 and a beta of 0.12. The company has a 50-day moving average of C$32.09 and a 200 day moving average of C$30.11.

Gibson Energy (TSE:GEI) last announced its quarterly earnings results on Monday, November 2nd. The company reported C$0.45 earnings per share for the quarter. Gibson Energy had a return on equity of 20.74% and a net margin of 1.47%. The firm had revenue of C$3.69 billion for the quarter.

Gibson Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 29th. Gibson Energy’s payout ratio is currently 152.14%.

Gibson Energy Company Profile

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.