SemGroup (NYSE:SEMG) Stock Price Down 1.2%

SemGroup Corp (NYSE:SEMG)’s stock price was down 1.2% during trading on Monday . The stock traded as low as $8.59 and last traded at $8.50, approximately 33,386 shares changed hands during mid-day trading. A decline of 97% from the average daily volume of 1,049,380 shares. The stock had previously closed at $8.60.

Several research analysts recently commented on SEMG shares. Royal Bank of Canada cut SemGroup from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $19.00 to $11.00 in a research note on Friday, August 23rd. SunTrust Banks reiterated a “hold” rating and issued a $15.00 price target on shares of SemGroup in a research note on Tuesday, May 28th. Zacks Investment Research upgraded SemGroup from a “strong sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Wednesday, May 29th. ValuEngine upgraded SemGroup from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Citigroup upgraded SemGroup from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.61.

The company has a debt-to-equity ratio of 1.19, a current ratio of 1.45 and a quick ratio of 1.36. The stock has a market capitalization of $684.40 million, a P/E ratio of -45.58 and a beta of 1.45. The company has a fifty day moving average of $10.89 and a two-hundred day moving average of $13.15.

SemGroup (NYSE:SEMG) last announced its quarterly earnings data on Thursday, August 8th. The pipeline company reported ($0.45) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.25). The firm had revenue of $674.94 million during the quarter, compared to the consensus estimate of $579.04 million. SemGroup had a negative net margin of 0.94% and a positive return on equity of 1.13%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, equities research analysts predict that SemGroup Corp will post -1.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Thursday, August 15th were issued a $0.472 dividend. This is a positive change from SemGroup’s previous quarterly dividend of $0.42. This represents a $1.89 annualized dividend and a yield of 21.80%. The ex-dividend date of this dividend was Wednesday, August 14th. SemGroup’s payout ratio is currently -994.74%.

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. bought a new position in shares of SemGroup during the first quarter valued at approximately $32,000. Quantamental Technologies LLC bought a new position in shares of SemGroup during the first quarter valued at approximately $69,000. Icon Wealth Partners LLC bought a new position in shares of SemGroup during the first quarter valued at approximately $78,000. LPL Financial LLC bought a new position in shares of SemGroup during the second quarter valued at approximately $137,000. Finally, GSA Capital Partners LLP bought a new position in shares of SemGroup during the second quarter valued at approximately $145,000. 84.90% of the stock is owned by hedge funds and other institutional investors.

About SemGroup (NYSE:SEMG)

SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. The company operates in three segments: U.S. Liquids, U.S. Gas, and Canada. The U.S. Liquids segment operates crude oil pipelines, truck transportation, storage, terminals, and marketing businesses; stores, blends, and transports refinery products and refinery feedstock through pipeline, barge, rail, truck, and ship; and operates a residual fuel oil storage terminal in the U.S.

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