Gibson Energy Inc. (TSE:GEI) Increases Dividend to $0.43 Per Share

Gibson Energy Inc. (TSE:GEI) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders of record on Thursday, April 17th will be paid a dividend of 0.43 per share on Thursday, April 17th. This represents a $1.72 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend is Monday, March 31st. This is a 4.9% increase from Gibson Energy’s previous quarterly dividend of $0.41.

Gibson Energy Trading Up 1.1 %

Shares of GEI traded up C$0.24 during mid-day trading on Friday, hitting C$22.69. The company had a trading volume of 964,076 shares, compared to its average volume of 851,239. Gibson Energy has a 1-year low of C$20.60 and a 1-year high of C$26.10. The business’s 50-day simple moving average is C$22.99 and its 200-day simple moving average is C$23.39. The stock has a market cap of C$3.70 billion, a PE ratio of 17.50, a P/E/G ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 278.33.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GEI. TD Securities raised shares of Gibson Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 24th. ATB Capital dropped their price target on Gibson Energy from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Raymond James reduced their price objective on Gibson Energy from C$30.50 to C$29.50 and set a “strong-buy” rating on the stock in a research note on Thursday, February 20th. Scotiabank dropped their target price on shares of Gibson Energy from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, National Bank Financial cut shares of Gibson Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gibson Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$25.86.

Insider Activity

In related news, Senior Officer Kelly Holtby purchased 2,010 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of C$24.85 per share, with a total value of C$49,948.50. Also, Senior Officer Riley Hicks acquired 8,900 shares of Gibson Energy stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of C$21.10 per share, with a total value of C$187,790.00. In the last three months, insiders acquired 35,910 shares of company stock worth $767,739. 0.85% of the stock is currently owned by insiders.

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.