Gibson Energy (TSE:GEI) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Gibson Energy shares climbed above their 50-day moving average of C$32.09, reaching C$32.74 before last trading at C$32.56.
• Analysts’ consensus rating is Moderate Buy, with an average price target of C$34.20; TD raised its target to C$40, while several firms maintained or moved to Hold ratings.
• The company reported quarterly EPS of C$0.45 and revenue of C$3.69 billion, and its annualized dividend of C$1.80 implies a 5.5% yield.

Shares of Gibson Energy Inc. (TSE:GEI - Get Free Report) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$32.09 and traded as high as C$32.74. Gibson Energy shares last traded at C$32.56, with a volume of 277,707 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GEI shares. TD raised their price objective on shares of Gibson Energy from C$36.00 to C$40.00 and gave the stock a "buy" rating in a research note on Wednesday, November 4th. Jefferies Financial Group cut Gibson Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Canadian Imperial Bank of Commerce cut Gibson Energy from an "outperformer" rating to a "hold" rating and set a C$34.00 target price for the company. in a research report on Thursday, October 22nd. BMO Capital Markets upped their price target on Gibson Energy from C$31.00 to C$33.00 and gave the company a "market perform" rating in a research report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. upped their price target on Gibson Energy from C$29.00 to C$30.00 in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$34.20.

Gibson Energy Stock Performance

The company has a quick ratio of 0.87, a current ratio of 0.85 and a debt-to-equity ratio of 296.09. The stock has a market cap of C$5.62 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.85 and a beta of 0.12. The firm's 50-day moving average is C$32.09 and its two-hundred day moving average is C$30.11.

Gibson Energy (TSE:GEI - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported C$0.45 earnings per share for the quarter. The company had revenue of C$3.69 billion during the quarter. Gibson Energy had a return on equity of 20.74% and a net margin of 1.47%.

Gibson Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, October 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 29th. Gibson Energy's payout ratio is presently 152.14%.

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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