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

Gibson Energy Inc. (TSE:GEI) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Stockholders 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 dividend 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 Stock Up 1.1 %

Shares of TSE:GEI traded up C$0.24 during midday trading on Friday, reaching 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 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. The business’s 50 day moving average price is C$22.99 and its 200 day moving average price is C$23.39.

Insiders Place Their Bets

In other news, Senior Officer Kelly Holtby bought 2,010 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of C$24.85 per share, with a total value of C$49,948.50. Also, Director Curtis Philippon purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average price of C$21.20 per share, for a total transaction of C$530,000.00. Insiders purchased 35,910 shares of company stock worth $767,739 over the last three months. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

GEI has been the topic of a number of analyst reports. CIBC dropped their price objective on Gibson Energy from C$29.00 to C$27.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada dropped their price target on shares of Gibson Energy from C$28.00 to C$26.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Scotiabank cut their price target on shares of Gibson Energy from C$27.00 to C$26.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Jefferies Financial Group lowered their price objective on shares of Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Finally, ATB Capital cut their target price on shares of 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. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company 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.