Scotiabank Issues Positive Forecast for Gibson Energy (TSE:GEI) Stock Price

Key Points

• Scotiabank raised Gibson Energy’s price target from C$29.00 to C$31.00 while keeping a sector perform rating, implying modest upside from the previous close.
• Several other analysts turned more bullish, including TD and National Bank Financial, pushing the consensus view to Moderate Buy with a consensus target of C$28.55.
• Gibson Energy’s shares recently traded at C$30.59, near the 1-year high of C$31.23, after the company reported slightly negative EPS of C($0.01) on C$2.75 billion in quarterly revenue.

Gibson Energy (TSE:GEI - Get Free Report) had its price target boosted by investment analysts at Scotiabank from C$29.00 to C$31.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's target price would indicate a potential upside of 1.34% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. TD upgraded shares of Gibson Energy from a "hold" rating to a "buy" rating and increased their price objective for the company from C$29.00 to C$32.00 in a research report on Tuesday, May 26th. TD Securities raised Gibson Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 26th. Finally, National Bank Financial raised their price target on Gibson Energy from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gibson Energy has a consensus rating of "Moderate Buy" and a consensus price target of C$28.55.

Gibson Energy Stock Performance

Shares of Gibson Energy stock traded down C$0.16 during trading on Tuesday, hitting C$30.59. 94,312 shares of the company's stock traded hands, compared to its average volume of 810,503. The company has a debt-to-equity ratio of 281.88, a current ratio of 1.17 and a quick ratio of 0.87. Gibson Energy has a 1 year low of C$22.09 and a 1 year high of C$31.23. The stock has a market capitalization of C$5.28 billion, a P/E ratio of 34.37, a PEG ratio of 1.85 and a beta of 0.11. The business has a 50-day simple moving average of C$29.40 and a 200-day simple moving average of C$28.49.

Gibson Energy (TSE:GEI - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported C($0.01) earnings per share for the quarter. The business had revenue of C$2.75 billion during the quarter. Gibson Energy had a return on equity of 16.60% and a net margin of 1.37%.

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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