Gibson Energy (TSE:GEI) Reaches New 52-Week High Following Analyst Upgrade

Gibson Energy Inc. (TSE:GEIGet Free Report)’s share price reached a new 52-week high on Thursday after JPMorgan Chase & Co. raised their price target on the stock from C$29.00 to C$30.00. The company traded as high as C$32.99 and last traded at C$32.48, with a volume of 1219593 shares traded. The stock had previously closed at C$32.11.

GEI has been the topic of several other research reports. National Bank Financial increased their target price on Gibson Energy from C$33.00 to C$34.00 and gave the company an “outperform” rating in a report on Wednesday. ATB Cormark Capital Markets lifted their price target on Gibson Energy from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday. Scotiabank lifted their price target on Gibson Energy from C$29.00 to C$31.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce upped their price objective on Gibson Energy from C$33.00 to C$34.00 in a research report on Wednesday. Finally, TD Securities upgraded Gibson Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gibson Energy has an average rating of “Moderate Buy” and an average target price of C$32.50.

Read Our Latest Stock Report on GEI

Key Headlines Impacting Gibson Energy

Here are the key news stories impacting Gibson Energy this week:

Gibson Energy Price Performance

The stock’s 50-day moving average is C$29.86 and its 200 day moving average is C$28.88. The company has a debt-to-equity ratio of 294.95, a quick ratio of 0.87 and a current ratio of 1.07. The stock has a market capitalization of C$5.54 billion, a PE ratio of 32.09, a P/E/G ratio of 1.85 and a beta of 0.11.

Gibson Energy (TSE:GEIGet Free Report) last announced its quarterly earnings results 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 firm had revenue of C$4.83 billion during the quarter.

Gibson Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.6%. Gibson Energy’s payout ratio is 176.00%.

Gibson Energy Company Profile

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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.

Further Reading

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