SG Americas Securities LLC increased its stake in shares of SemGroup Corp (NYSE:SEMG) by 4,036.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,389 shares of the pipeline company’s stock after purchasing an additional 404,372 shares during the quarter. SG Americas Securities LLC owned 0.52% of SemGroup worth $6,771,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of SemGroup by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,902,048 shares of the pipeline company’s stock worth $94,825,000 after acquiring an additional 475,190 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in shares of SemGroup by 1.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 7,272,329 shares of the pipeline company’s stock worth $87,268,000 after acquiring an additional 118,028 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of SemGroup by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,764,526 shares of the pipeline company’s stock worth $21,174,000 after acquiring an additional 82,383 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of SemGroup during the 2nd quarter worth about $15,197,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SemGroup by 7.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 794,690 shares of the pipeline company’s stock worth $9,537,000 after acquiring an additional 53,198 shares in the last quarter. 79.75% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SEMG traded up $0.05 during trading hours on Friday, reaching $16.07. The stock had a trading volume of 1,779,377 shares, compared to its average volume of 1,464,638. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -84.58 and a beta of 1.60. The company has a current ratio of 1.45, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19. SemGroup Corp has a fifty-two week low of $8.10 and a fifty-two week high of $18.86. The firm has a 50-day moving average of $16.23 and a 200-day moving average of $12.90.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.4725 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This is a boost from SemGroup’s previous quarterly dividend of $0.42. This represents a $1.89 dividend on an annualized basis and a dividend yield of 11.76%. SemGroup’s dividend payout ratio is -994.74%.
Several research firms have recently issued reports on SEMG. Royal Bank of Canada cut SemGroup from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $19.00 to $11.00 in a research report on Friday, August 23rd. Wells Fargo & Co upped their price objective on SemGroup from $10.00 to $17.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 17th. SunTrust Banks lowered their price objective on SemGroup from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, October 15th. ValuEngine cut SemGroup from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Citigroup cut SemGroup from a “buy” rating to a “neutral” rating and upped their target price for the company from $15.00 to $17.00 in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.11.
In related news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $16.61, for a total value of $93,720,396.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.
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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