Scotiabank Forecasts Strong Price Appreciation for Gibson Energy (TSE:GEI) Stock

Gibson Energy (TSE:GEI) had its price target boosted by equities research analysts at Scotiabank from C$29.00 to C$31.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 0.98% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. TD Securities upgraded shares of Gibson Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. National Bank Financial boosted their price objective on shares of Gibson Energy from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, TD upgraded 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 report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$28.60.

Gibson Energy Stock Performance

Shares of GEI stock opened at C$30.70 on Tuesday. The business’s fifty day moving average price is C$29.49 and its 200 day moving average price is C$28.57. The firm has a market capitalization of C$5.29 billion, a PE ratio of 34.49, a P/E/G ratio of 1.85 and a beta of 0.11. The company has a debt-to-equity ratio of 281.88, a current ratio of 1.17 and a quick ratio of 0.87. Gibson Energy has a 1-year low of C$22.09 and a 1-year high of C$31.23.

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

About Gibson Energy

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.