Gibson Energy (TSE:GEI) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Gibson Energy shares rose above their 200-day moving average of C$29.92, reaching C$31.53 before closing at C$31.02 on trading volume of 646,164 shares.
• Analysts became more bullish, with several firms raising price targets to between C$33 and C$35. The stock has a consensus “Moderate Buy” rating and an average target of C$32.80.
• Gibson reported quarterly earnings of C$0.48 per share on C$4.83 billion in revenue and maintains a quarterly dividend of C$0.45, equivalent to an annualized yield of about 5.8%.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$29.92 and traded as high as C$31.53. Gibson Energy shares last traded at C$31.02, with a volume of 646,164 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on GEI. TD Securities upgraded Gibson Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 26th. TD upped their price target on Gibson Energy from C$34.00 to C$35.00 and gave the stock a "buy" rating in a research report on Tuesday, September 1st. Royal Bank Of Canada upped their price target on Gibson Energy from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. ATB Cormark Capital Markets raised their price target on shares of Gibson Energy from C$32.00 to C$34.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Gibson Energy from C$33.00 to C$34.00 in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$32.80.

Gibson Energy Stock Down 0.8%

The company has a debt-to-equity ratio of 294.95, a current ratio of 1.07 and a quick ratio of 0.87. The firm's 50 day moving average is C$31.34 and its two-hundred day moving average is C$29.92. The firm has a market capitalization of C$5.35 billion, a P/E ratio of 31.02, a PEG ratio of 1.85 and a beta of -0.00.

Gibson Energy (TSE:GEI - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported C$0.48 earnings per share 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 for the quarter.

Gibson Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, July 17th were paid a $0.45 dividend. The ex-dividend date was Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 5.8%. Gibson Energy's dividend 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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