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

Gibson Energy (TSE:GEI) had its price objective increased by Scotiabank from C$29.00 to C$31.00 in a report released on Tuesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other brokerages have also recently issued reports on GEI. National Bank Financial increased their price target on shares of Gibson Energy from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. TD raised shares of Gibson Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from C$29.00 to C$32.00 in a research note on Tuesday, May 26th. Finally, TD Securities raised shares of Gibson Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. One equities 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$28.55.

Gibson Energy Price Performance

GEI opened at C$30.70 on Tuesday. The stock’s 50-day moving average price is C$29.44 and its 200 day moving average price is C$28.53. Gibson Energy has a 12-month low of C$22.09 and a 12-month high of C$31.23. The company has a current ratio of 1.17, a quick ratio of 0.87 and a debt-to-equity ratio of 281.88. The firm has a market cap of C$5.29 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 1.85 and a beta of 0.11.

Gibson Energy (TSE:GEI) last announced its earnings results on Monday, May 4th. The company reported C($0.01) EPS for the quarter. The firm had revenue of C$2.75 billion for the quarter. Gibson Energy had a net margin of 1.37% and a return on equity of 16.60%.

Gibson Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 17th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Monday, June 29th. Gibson Energy’s payout ratio is presently 195.51%.

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.