SemGroup (SEMG) Downgraded by ValuEngine to “Sell”

ValuEngine lowered shares of SemGroup (NYSE:SEMG) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities analysts also recently issued reports on the company. Wells Fargo & Co reiterated a hold rating on shares of SemGroup in a research report on Wednesday, September 12th. Royal Bank of Canada lowered their target price on SemGroup from $30.00 to $29.00 and set an outperform rating for the company in a research note on Friday, August 10th. Zacks Investment Research raised SemGroup from a strong sell rating to a hold rating in a research note on Thursday, July 26th. BMO Capital Markets reissued a hold rating and issued a $26.00 target price on shares of SemGroup in a research note on Friday, July 13th. Finally, Barclays lifted their target price on SemGroup from $25.00 to $26.00 and gave the company an equal weight rating in a research note on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $27.22.

Shares of SEMG opened at $21.50 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.60. SemGroup has a 52-week low of $20.20 and a 52-week high of $30.95. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -89.58, a price-to-earnings-growth ratio of 62.57 and a beta of 1.89.

SemGroup (NYSE:SEMG) last issued its quarterly earnings data on Wednesday, August 8th. The pipeline company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.12). SemGroup had a negative net margin of 2.17% and a positive return on equity of 2.44%. The business had revenue of $595.80 million during the quarter, compared to the consensus estimate of $602.06 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. equities research analysts forecast that SemGroup will post 0.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 29th. Stockholders of record on Monday, August 20th were paid a $0.4725 dividend. The ex-dividend date of this dividend was Friday, August 17th. This represents a $1.89 annualized dividend and a dividend yield of 8.79%. SemGroup’s dividend payout ratio (DPR) is currently -787.50%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY increased its stake in shares of SemGroup by 2.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 158,050 shares of the pipeline company’s stock valued at $4,014,000 after buying an additional 3,835 shares during the period. Highland Capital Management LP grew its stake in shares of SemGroup by 2.3% during the second quarter. Highland Capital Management LP now owns 174,439 shares of the pipeline company’s stock worth $4,431,000 after purchasing an additional 3,900 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of SemGroup by 34.6% during the first quarter. Cubist Systematic Strategies LLC now owns 15,817 shares of the pipeline company’s stock worth $338,000 after purchasing an additional 4,066 shares during the period. Tortoise Index Solutions LLC grew its stake in shares of SemGroup by 13.9% during the second quarter. Tortoise Index Solutions LLC now owns 34,760 shares of the pipeline company’s stock worth $883,000 after purchasing an additional 4,247 shares during the period. Finally, MetLife Investment Advisors LLC grew its stake in shares of SemGroup by 14.3% during the second quarter. MetLife Investment Advisors LLC now owns 36,615 shares of the pipeline company’s stock worth $930,000 after purchasing an additional 4,594 shares during the period.

SemGroup Company Profile

SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. Its Crude Transportation segment operates crude oil pipelines and truck transportation businesses. It operates a 455-mile crude oil gathering and transportation pipeline system in Kansas and northern Oklahoma; a 75-mile crude oil gathering pipeline system that transports crude oil from production facilities in the DJ Basin to the pipeline owned by White Cliffs Pipeline, LLC; a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma; and 3 pipelines with an aggregate of 106 miles of pipe, as well as crude oil trucking fleet of 215 transport trucks and 210 trailers.

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