Gibson Energy (TSE:GEI) Given New C$37.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised Gibson Energy’s price target to C$37 from C$35 and maintained an “outperform” rating, implying about 9.9% upside from the reported C$33.67 share price.
• Analyst sentiment is broadly positive: Gibson has an average “Moderate Buy” rating and a consensus target of C$33.10, though CIBC downgraded the stock to “hold” with a C$34 target.
• Gibson reported quarterly EPS of C$0.48 on C$4.83 billion in revenue, while its shares traded near a 12-month high and had risen above both their 50-day and 200-day moving averages.

Gibson Energy (TSE:GEI - Get Free Report) had its price objective hoisted by ATB Cormark Capital Markets from C$35.00 to C$37.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. ATB Cormark Capital Markets's target price would indicate a potential upside of 9.89% from the company's current price.

A number of other research firms have also recently weighed in on GEI. Raymond James Financial boosted their target price on shares of 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. 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 report on Wednesday, July 29th. TD raised their price objective on Gibson Energy from C$34.00 to C$35.00 and gave the company a "buy" rating in a report on Tuesday, September 1st. Canadian Imperial Bank of Commerce lowered Gibson Energy from an "outperformer" rating to a "hold" rating and set a C$34.00 price objective on the stock. in a research report on Thursday. Finally, Royal Bank Of Canada upped their target price on Gibson Energy from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$33.10.

Gibson Energy Price Performance

Shares of Gibson Energy stock traded up C$0.66 during midday trading on Friday, hitting C$33.67. 274,776 shares of the company traded hands, compared to its average volume of 746,731. The stock has a market cap of C$5.81 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 1.85 and a beta of -0.03. The company has a debt-to-equity ratio of 294.95, a quick ratio of 0.87 and a current ratio of 1.07. The firm's fifty day moving average price is C$31.64 and its 200-day moving average price is C$30.26. Gibson Energy has a 12 month low of C$22.09 and a 12 month high of C$33.88.

Gibson Energy (TSE:GEI - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported C$0.48 earnings per share (EPS) for the quarter. The business had revenue of C$4.83 billion during the quarter. Gibson Energy had a net margin of 1.32% and a return on equity of 18.23%.

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.

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