Zacks Investment Research cut shares of Semgroup (NYSE:SEMG) from a hold rating to a strong sell rating in a report published on Wednesday, November 15th.
According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “
SEMG has been the subject of several other reports. Royal Bank Of Canada reiterated a buy rating and set a $33.00 price objective on shares of Semgroup in a research note on Tuesday, November 7th. BidaskClub lowered Semgroup from a hold rating to a sell rating in a research note on Thursday, October 26th. Finally, Barclays reiterated a hold rating and set a $32.00 price objective on shares of Semgroup in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $31.00.
Semgroup (SEMG) traded up $0.60 during midday trading on Wednesday, reaching $25.25. The company had a trading volume of 1,093,947 shares, compared to its average volume of 824,400. The firm has a market cap of $1,939.58, a PE ratio of 19.56 and a beta of 2.04. Semgroup has a 12 month low of $21.35 and a 12 month high of $43.20. The company has a quick ratio of 1.01, a current ratio of 1.24 and a debt-to-equity ratio of 1.78.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 20th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.13%. Semgroup’s dividend payout ratio (DPR) is presently -2,250.00%.
Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in Semgroup by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 15,591 shares of the pipeline company’s stock worth $561,000 after acquiring an additional 65 shares during the period. Amalgamated Bank grew its position in Semgroup by 0.8% in the second quarter. Amalgamated Bank now owns 8,378 shares of the pipeline company’s stock worth $226,000 after acquiring an additional 65 shares during the period. CNH Partners LLC grew its position in Semgroup by 0.6% in the second quarter. CNH Partners LLC now owns 16,033 shares of the pipeline company’s stock worth $433,000 after acquiring an additional 100 shares during the period. IHT Wealth Management LLC purchased a new position in Semgroup in the second quarter worth approximately $119,000. Finally, The Manufacturers Life Insurance Company grew its position in Semgroup by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 51,501 shares of the pipeline company’s stock worth $1,391,000 after acquiring an additional 557 shares during the period. Institutional investors and hedge funds own 98.00% of the company’s stock.
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