Gibson Energy Inc. (TSE:GEI) to Issue Dividend Increase – $0.43 Per Share

Gibson Energy Inc. (TSE:GEI) declared 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 annualized dividend 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 TSE GEI traded up C$0.24 during midday trading on Friday, hitting C$22.69. 964,076 shares of the company traded hands, compared to its average volume of 851,239. Gibson Energy has a 12-month low of C$20.60 and a 12-month high of C$26.10. The firm has a market cap of C$3.70 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.85 and a beta of 1.25. The stock has a 50-day moving average price of C$22.99 and a 200 day moving average price of C$23.39. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70.

Insiders Place Their Bets

In other Gibson Energy news, Senior Officer Riley Hicks acquired 8,900 shares of the stock in a transaction dated Friday, February 21st. The shares were purchased at an average price of C$21.10 per share, for a total transaction of C$187,790.00. Also, Director Curtis Philippon acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of C$21.20 per share, for a total transaction of C$530,000.00. In the last quarter, insiders acquired 35,910 shares of company stock valued at $767,739. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

GEI has been the topic of several research reports. Jefferies Financial Group dropped their price target on Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a research report 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 on the stock in a report on Thursday, February 20th. National Bankshares lowered shares of Gibson Energy from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$29.00 to C$24.00 in a research note on Wednesday, February 19th. National Bank Financial lowered shares of Gibson Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Raymond James decreased their target price on shares of Gibson Energy from C$30.50 to C$29.50 and set a “strong-buy” rating for the company in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$25.86.

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.