Gibson Energy (TSE:GEI) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Gibson Energy shares reached a new 52-week high, trading as high as C$32.99 after ATB Cormark raised its price target from C$32 to C$34 and maintained an “outperform” rating.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Moderate Buy” rating and an average target price of C$32, while Raymond James and National Bank also raised their targets to C$36 and C$34, respectively.
• Gibson Energy reported quarterly earnings of C$0.48 per share on C$4.83 billion in revenue and paid a quarterly dividend of $0.45 per share, representing a 5.5% annualized yield.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday after ATB Cormark Capital Markets raised their price target on the stock from C$32.00 to C$34.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. Gibson Energy traded as high as C$32.99 and last traded at C$32.48, with a volume of 1219593 shares trading hands. The stock had previously closed at C$32.11.

Several other research analysts also recently issued reports on the stock. Scotiabank raised their price objective on shares of Gibson Energy from C$29.00 to C$31.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Jefferies Financial Group cut Gibson Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. National Bank Financial lifted their price target on shares of Gibson Energy from C$33.00 to C$34.00 and gave the company an "outperform" rating in a research report on Wednesday. TD Securities upgraded shares of Gibson Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 26th. Finally, Raymond James Financial increased their target price on Gibson Energy from C$35.00 to C$36.00 and gave the company an "outperform" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Gibson Energy presently has an average rating of "Moderate Buy" and a consensus target price of C$32.00.

Key Gibson Energy News

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

• Positive Sentiment: Raymond James raised its price target from C$35 to C$36 and maintained an “outperform” rating, implying approximately 10.6% upside from the cited share price. BayStreet.CA analyst ratings
• Positive Sentiment: ATB Cormark increased its target from C$32 to C$34 and upgraded its view to “outperform,” indicating approximately 4.4% potential upside. BayStreet.CA analyst ratings
• Positive Sentiment: Canadian Imperial Bank of Commerce raised its target from C$33 to C$34, also implying approximately 4.4% upside. BayStreet.CA analyst ratings
• Positive Sentiment: National Bank Financial lifted its target from C$33 to C$34 and moved to an “outperform” rating, pointing to approximately 4.4% upside. BayStreet.CA analyst ratings
• Positive Sentiment: Royal Bank of Canada raised its target from C$30 to C$33 and assigned an “outperform” rating, although its revised target represents only approximately 1.4% upside. BayStreet.CA analyst ratings
• Neutral Sentiment: BMO Capital Markets raised its target from C$29 to C$32, but the new target was slightly below the cited share price, suggesting more limited near-term upside than the other firms. BayStreet.CA analyst ratings

Gibson Energy Price Performance

The company's fifty day moving average is C$29.74 and its two-hundred day moving average is C$28.80. 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 has a market cap of C$5.60 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 1.85 and a beta of 0.11.

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

Gibson Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 17th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 29th. Gibson Energy's payout ratio is presently 195.51%.

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.

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