Gibson Energy (TSE:GEI) Sets New 52-Week High - Here's What Happened

Key Points

• Shares hit a new 52-week high, trading as high as C$30.05 (last C$30.02, up ~1.9%), while analysts have raised targets but the MarketBeat consensus remains a "Moderate Buy" with an average target of C$27.50.
• The company announced a quarterly dividend of C$0.45 (annualized C$1.80), a 6.0% yield with an ex-dividend date of March 30 and payment on April 17, although the payout ratio is a high 143.33%, raising sustainability concerns.
• Gibson carries significant leverage with a debt-to-equity ratio of 346.20 and only modest liquidity (current ratio 1.05), while trading at a P/E of about 25.2 and a market cap near C$5.2 billion.

Shares of Gibson Energy Inc. (TSE:GEI - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as C$30.05 and last traded at C$30.02, with a volume of 109295 shares. The stock had previously closed at C$29.67.

Analysts Set New Price Targets

GEI has been the topic of several research analyst reports. National Bank Financial set a C$29.00 price objective on Gibson Energy and gave the company an "outperform" rating in a research note on Wednesday, December 17th. Canadian Imperial Bank of Commerce increased their price objective on Gibson Energy from C$26.00 to C$30.00 in a research report on Wednesday, December 3rd. Royal Bank Of Canada increased their target price on Gibson Energy from C$26.00 to C$28.00 in a report on Wednesday, December 3rd. TD Securities upped their target price on shares of Gibson Energy from C$26.00 to C$29.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Finally, BMO Capital Markets lifted their price target on shares of Gibson Energy from C$25.00 to C$27.00 in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$27.50.

Gibson Energy Trading Up 1.9%

The company has a market capitalization of C$5.20 billion, a P/E ratio of 25.19, a PEG ratio of 1.85 and a beta of 0.31. The company has a debt-to-equity ratio of 346.20, a current ratio of 1.05 and a quick ratio of 0.87. The business's 50-day moving average price is C$27.66 and its two-hundred day moving average price is C$26.04.

Gibson Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, April 17th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, March 30th. Gibson Energy's payout ratio is presently 143.33%.

Gibson Energy Company Profile

Gibson Energy Inc is an oil infrastructure company that collects, stores, and processes crude oil and refined products. Reportable segments include marketing, which deals with buying, selling, and optimizing products such as crude oil, natural gas liquid, road asphalt, and oil-based mud product; and infrastructure, which makes up a system of oil terminals, rail loading facilities, pipelines, and an oil processing facility. Gibson Energy Inc services Canada and the United States, and the majority of revenue comes from the marketing segment.

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