Gibson Energy (TSE:GEI) Reaches New 12-Month High - Here's What Happened

Key Points

• Gibson Energy shares reached a new 12-month high, trading as high as C$32.89 before closing near C$32.86, up from the previous close of C$32.20.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of C$32.90; several firms recently raised their targets to between C$30 and C$34.
• Gibson declared a quarterly dividend of $0.45 per share, equivalent to an annualized $1.80 payout and a 5.5% yield, though its payout ratio stands at 176%.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as C$32.89 and last traded at C$32.86, with a volume of 325,992 shares traded. The stock had previously closed at C$32.20.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Gibson Energy from C$29.00 to C$30.00 in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce upped their price target on shares of Gibson Energy from C$33.00 to C$34.00 in a report on Wednesday, July 29th. Royal Bank Of Canada upped their price target on shares of Gibson Energy from C$30.00 to C$33.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Scotiabank increased 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 research report on Tuesday, July 21st. Finally, BMO Capital Markets increased their price target on shares of Gibson Energy from C$29.00 to C$32.00 in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Gibson Energy presently has a consensus rating of "Moderate Buy" and an average price target of C$32.90.

Gibson Energy Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 294.95. The company has a market cap of C$5.67 billion, a PE ratio of 32.86, a P/E/G ratio of 1.85 and a beta of -0.03. The stock's 50 day simple moving average is C$31.37 and its two-hundred day simple moving average is C$30.08.

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 (EPS) for the quarter. Gibson Energy had a return on equity of 18.23% and a net margin of 1.32%. The business had revenue of C$4.83 billion during the quarter.

Gibson Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 annualized dividend and a yield of 5.5%. Gibson Energy's payout ratio is currently 176.00%.

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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