Gibson Energy Inc. Announces Quarterly Dividend of $0.41 (TSE:GEI)

Gibson Energy Inc. (TSE:GEI) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.41 per share on Friday, January 17th. This represents a $1.64 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend is Tuesday, December 31st.

Gibson Energy Stock Performance

TSE:GEI opened at C$23.09 on Thursday. The firm’s 50-day moving average is C$22.58 and its 200-day moving average is C$22.60. The company has a market cap of C$3.76 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 292.01, a quick ratio of 0.87 and a current ratio of 1.18. Gibson Energy has a 52-week low of C$19.33 and a 52-week high of C$24.33.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Gibson Energy from C$27.00 to C$26.00 in a research report on Wednesday, October 2nd. BMO Capital Markets boosted their price target on shares of Gibson Energy from C$25.00 to C$25.50 in a report on Thursday, September 5th. Royal Bank of Canada raised their price objective on shares of Gibson Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. National Bankshares upped their target price on shares of Gibson Energy from C$25.00 to C$26.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, 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 note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$26.00.

Insider Activity

In other Gibson Energy news, Director Curtis Philippon purchased 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of C$22.03 per share, with a total value of C$506,690.00. In related news, Director Margaret Cahill Montana bought 3,400 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of C$21.52 per share, with a total value of C$73,168.00. Also, Director Curtis Philippon purchased 23,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of C$22.03 per share, for a total transaction of C$506,690.00. 0.85% of the stock is currently owned by corporate insiders.

About Gibson Energy

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.