Gibson Energy (TSE:GEI) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Gibson Energy shares rose above their 200-day moving average, reaching C$33.41 before closing at C$33.25, compared with the 200-day average of C$30.21.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a C$32.90 price target. Several firms raised their targets, although Jefferies downgraded the stock to “hold.”
• Gibson reported quarterly EPS of C$0.48 on C$4.83 billion in revenue and maintains a quarterly dividend of C$0.45 per share, equating to a 5.4% annualized yield.

Shares of Gibson Energy Inc. (TSE:GEI - Get Free Report) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$30.21 and traded as high as C$33.41. Gibson Energy shares last traded at C$33.25, with a volume of 414,678 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on GEI shares. Canadian Imperial Bank of Commerce increased their price target on Gibson Energy from C$33.00 to C$34.00 in a research report on Wednesday, July 29th. Jefferies Financial Group downgraded shares of Gibson Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. BMO Capital Markets increased their target price on Gibson Energy from C$29.00 to C$32.00 in a research note on Tuesday, July 28th. JPMorgan Chase & Co. boosted their price target on shares of Gibson Energy from C$29.00 to C$30.00 in a report on Thursday, July 30th. Finally, TD increased their target price on Gibson Energy from C$34.00 to C$35.00 and gave the stock a "buy" rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Gibson Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of C$32.90.

Gibson Energy Trading Up 0.3%

The company has a market cap of C$5.74 billion, a P/E ratio of 33.25, a PEG ratio of 1.85 and a beta of -0.03. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 294.95. The business has a 50 day moving average price of C$31.58 and a 200-day moving average price of C$30.21.

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

Gibson Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, September 29th. Gibson Energy's payout ratio is 176.00%.

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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