Raymond James Financial Issues Positive Forecast for Gibson Energy (TSE:GEI) Stock Price

Key Points

• Raymond James raised Gibson Energy’s price target to C$36 from C$35 and maintained an “outperform” rating, implying approximately 10.19% upside.
• Several other analysts also increased their targets or ratings; overall, Gibson Energy has a “Moderate Buy” consensus rating with an average target price of C$31.27.
• Shares recently traded at C$32.67, near their 12-month high of C$32.99. Gibson reported quarterly earnings of C$0.48 per share and revenue of C$4.83 billion.

Gibson Energy (TSE:GEI - Get Free Report) had its target price increased by stock analysts at Raymond James Financial from C$35.00 to C$36.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 10.19% from the company's current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets boosted their price target on Gibson Energy from C$29.00 to C$32.00 in a research report on Tuesday. National Bank Financial boosted their target price on Gibson Energy from C$33.00 to C$34.00 and gave the stock an "outperform" rating in a report on Wednesday. TD Securities raised Gibson Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce raised their target price on Gibson Energy from C$33.00 to C$34.00 in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Gibson Energy currently has an average rating of "Moderate Buy" and an average target price of C$31.27.

Gibson Energy Price Performance

Shares of Gibson Energy stock traded up C$0.56 during trading hours on Wednesday, reaching C$32.67. The stock had a trading volume of 399,352 shares, compared to its average volume of 807,400. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 294.95. Gibson Energy has a twelve month low of C$22.09 and a twelve month high of C$32.99. The stock's 50 day moving average is C$29.67 and its 200 day moving average is C$28.75. The firm has a market capitalization of C$5.63 billion, a PE ratio of 36.71, a PEG ratio of 1.85 and a beta of 0.11.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.