Gibson Energy (TSE:GEI) Stock Gets Price Target Bump from ATB Cormack

Key Points

• ATB Cormack raised its price target on Gibson Energy from C$37 to C$39 and maintained an “outperform” rating, implying 19.27% upside from the previous close.
• Analyst views are broadly positive: Gibson has a “Moderate Buy” consensus rating and a C$34.45 average target, with TD’s C$40 target the highest cited.
• Shares fell C$1.44 to C$32.70 on Wednesday. In its latest reported quarter, Gibson posted C$0.45 in earnings per share and C$3.69 billion in revenue.

Gibson Energy (TSE:GEI - Get Free Report) had its price target upped by research analysts at ATB Cormack from C$37.00 to C$39.00 in a report issued on Wednesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormack's price target would indicate a potential upside of 19.27% from the stock's previous close.

GEI has been the subject of a number of other research reports. ATB Cormark Capital Markets raised their target price on Gibson Energy from C$35.00 to C$37.00 and gave the company an "outperform" rating in a report on Friday, October 23rd. National Bank Financial upped their price target on shares of Gibson Energy from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Wednesday. TD increased their price target on shares of Gibson Energy from C$36.00 to C$40.00 and gave the company a "buy" rating in a report on Wednesday. Raymond James Financial raised their price objective on shares of Gibson Energy from C$37.00 to C$38.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Gibson Energy from C$29.00 to C$30.00 in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Gibson Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of C$34.45.

Gibson Energy Stock Performance

Shares of GEI stock traded down C$1.44 during trading hours on Wednesday, reaching C$32.70. 304,564 shares of the company's stock were exchanged, compared to its average volume of 741,127. The company has a market cap of C$5.64 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 1.85 and a beta of -0.03. The company's 50 day moving average is C$32.00 and its two-hundred day moving average is C$29.93. Gibson Energy has a 1 year low of C$22.09 and a 1 year high of C$34.66. The company has a debt-to-equity ratio of 294.95, a current ratio of 1.07 and a quick ratio of 0.87.

Gibson Energy (TSE:GEI - Get Free Report) last posted 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 18.23% and a net margin of 1.32%. The firm had revenue of C$3.69 billion for the quarter.

Key Headlines Impacting Gibson Energy

Here are the key news stories impacting Gibson Energy this week:

• Positive Sentiment: Gibson reported record consolidated and infrastructure adjusted EBITDA, while third-quarter net income increased year over year. It also sanctioned the Chauvin Pipeline expansion, adding a growth project to its outlook. Article
• Positive Sentiment: The company declared a quarterly dividend of C$0.45, supporting its income appeal for investors. Article
• Neutral Sentiment: Gibson reported quarterly earnings per share of C$0.45 and revenue of C$3.69 billion. The results point to solid operating performance, though the available reports do not establish how they compared with analyst expectations. Article
• Negative Sentiment: Debt and leverage remain investor concerns. BMO raised its price target to C$33 from C$31 but kept a “market perform” rating; the target was below the cited share price, suggesting limited near-term upside in the firm’s view. Article

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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