Semgroup Corporation (SEMG) Rating Lowered to Market Perform at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Semgroup Corporation (NYSE:SEMG) from an outperform rating to a market perform rating in a research report sent to investors on Monday, July 17th, Marketbeat Ratings reports.

Other equities analysts have also issued reports about the company. Barclays PLC lowered Semgroup Corporation from an overweight rating to an equal weight rating and decreased their target price for the stock from $36.00 to $32.00 in a research report on Wednesday, June 14th. Royal Bank Of Canada decreased their target price on Semgroup Corporation from $41.00 to $33.00 and set an outperform rating for the company in a research report on Thursday, June 22nd. Morgan Stanley decreased their target price on Semgroup Corporation from $39.00 to $32.00 and set an equal weight rating for the company in a research report on Wednesday, June 21st. Finally, BidaskClub lowered Semgroup Corporation from a sell rating to a strong sell rating in a research report on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $34.00.

Semgroup Corporation (SEMG) traded down 0.42% during midday trading on Monday, reaching $23.75. 1,255,838 shares of the company were exchanged. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 235.15 and a beta of 2.03. The firm’s 50-day moving average price is $25.96 and its 200 day moving average price is $32.24. Semgroup Corporation has a 52-week low of $22.55 and a 52-week high of $43.20.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Friday, August 18th will be given a $0.45 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.80 annualized dividend and a dividend yield of 7.58%. Semgroup Corporation’s dividend payout ratio is presently 6,000.00%.

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