Raymond James Forecasts Reduced Earnings for Gibson Energy

Gibson Energy Inc. (TSE:GEI) – Investment analysts at Raymond James decreased their FY2024 earnings estimates for Gibson Energy in a research note issued to investors on Wednesday, October 30th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $1.27 for the year, down from their prior estimate of $1.29. Raymond James has a “Strong-Buy” rating on the stock. Raymond James also issued estimates for Gibson Energy’s FY2025 earnings at $1.51 EPS.

A number of other equities research analysts have also issued reports on GEI. National Bankshares boosted their target price on Gibson Energy from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Royal Bank of Canada boosted their price objective on Gibson Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets upped their price objective on shares of Gibson Energy from C$25.00 to C$25.50 in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Gibson Energy from C$27.00 to C$26.00 in a research report on Wednesday, October 2nd. One 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 data from MarketBeat.com, Gibson Energy has an average rating of “Buy” and an average target price of C$26.00.

Gibson Energy Price Performance

Shares of TSE:GEI opened at C$22.95 on Friday. The company has a market capitalization of C$3.74 billion, a PE ratio of 21.65, a price-to-earnings-growth 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. The stock has a fifty day moving average of C$22.63 and a 200-day moving average of C$22.60. Gibson Energy has a one year low of C$19.42 and a one year high of C$24.33.

Insider Buying and Selling at Gibson Energy

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

Gibson Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a $0.41 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.64 dividend on an annualized basis and a yield of 7.15%. Gibson Energy’s payout ratio is 154.72%.

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.