Gibson Energy (TSE:GEI) Reaches New 12-Month High – Here’s Why

Gibson Energy Inc. (TSE:GEI)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$23.70 and last traded at C$23.60, with a volume of 224927 shares traded. The stock had previously closed at C$23.54.

Analyst Ratings Changes

A number of brokerages recently commented on GEI. BMO Capital Markets upped their target price on Gibson Energy from C$25.00 to C$25.50 in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their price objective on shares of Gibson Energy from C$27.00 to C$26.00 in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on shares of Gibson Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Raymond James set a C$28.50 price target on shares of Gibson Energy and gave the stock a “strong-buy” rating in a research report on Friday, October 11th. Finally, National Bankshares raised their price target on shares of Gibson Energy from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$26.00.

Gibson Energy Stock Up 0.8 %

The business has a 50-day simple moving average of C$22.10 and a two-hundred day simple moving average of C$22.55. The stock has a market capitalization of C$3.86 billion, a P/E ratio of 22.21, a PEG ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 292.01.

Gibson Energy (TSE:GEI) last announced its quarterly earnings results on Monday, July 29th. The company reported C$0.38 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.02. The firm had revenue of C$3.23 billion for the quarter. Gibson Energy had a return on equity of 23.48% and a net margin of 1.42%.

Gibson Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date is Friday, September 27th. Gibson Energy’s dividend payout ratio is currently 154.72%.

Insiders Place Their Bets

In other Gibson Energy news, Director Curtis Philippon acquired 23,000 shares of Gibson Energy stock in a transaction on Wednesday, September 4th. The shares were bought at an average price of C$22.03 per share, with a total value of C$506,690.00. In other Gibson Energy news, Director Margaret Cahill Montana bought 3,400 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of C$21.52 per share, for a total transaction of C$73,168.00. Also, Director Curtis Philippon bought 23,000 shares of Gibson Energy stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average cost of C$22.03 per share, for a total transaction of C$506,690.00. Insiders own 0.85% of the company’s stock.

Gibson Energy Company Profile

Gibson Energy Inc, together with its subsidiaries, engages in the gathering, storage, optimization, processing, and marketing of liquids and refined products in Canada and the United States. It operates through Infrastructure and Marketing segments. The Infrastructure segment operates a network of liquid infrastructure assets that include oil terminals, rail loading and unloading facilities, gathering pipelines, a crude oil processing facility, and other terminals.