SemGroup (NYSE:SEMG) Stock Price Down 6.4%

SemGroup Corp (NYSE:SEMG) traded down 6.4% on Wednesday . The company traded as low as $9.15 and last traded at $9.32, 1,637,904 shares changed hands during trading. An increase of 60% from the average session volume of 1,025,750 shares. The stock had previously closed at $9.96.

Several research analysts recently issued reports on the company. ValuEngine raised SemGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Citigroup raised SemGroup from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, July 23rd. Barclays reaffirmed a “sell” rating and set a $12.00 target price on shares of SemGroup in a research report on Thursday, July 18th. TheStreet lowered SemGroup from a “c-” rating to a “d+” rating in a research report on Monday, April 29th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $15.00 target price on shares of SemGroup in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $17.31.

The firm’s fifty day moving average price is $11.69. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.39 and a quick ratio of 1.30. The stock has a market capitalization of $797.89 million, a price-to-earnings ratio of -49.05 and a beta of 1.45.

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 analysts’ consensus estimates of ($0.20) by ($0.25). The firm had revenue of $674.94 million during the quarter, compared to analyst estimates of $579.04 million. SemGroup had a negative net margin of 0.94% and a positive return on equity of 1.17%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, analysts forecast that SemGroup Corp will post -0.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Thursday, August 15th will be issued a $0.472 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This is a positive change from SemGroup’s previous quarterly dividend of $0.42. This represents a $1.89 dividend on an annualized basis and a dividend yield of 20.26%. SemGroup’s dividend payout ratio is currently -994.74%.

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC grew its stake in shares of SemGroup by 125.5% in the second quarter. Cubist Systematic Strategies LLC now owns 77,798 shares of the pipeline company’s stock valued at $934,000 after buying an additional 43,293 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of SemGroup in the second quarter valued at $15,197,000. Biglari Capital CORP. grew its stake in shares of SemGroup by 21.7% in the second quarter. Biglari Capital CORP. now owns 101,000 shares of the pipeline company’s stock valued at $1,212,000 after buying an additional 18,000 shares in the last quarter. Brookfield Asset Management Inc. grew its stake in shares of SemGroup by 1.6% in the second quarter. Brookfield Asset Management Inc. now owns 7,272,329 shares of the pipeline company’s stock valued at $87,268,000 after buying an additional 118,028 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of SemGroup by 6.4% in the second quarter. Vanguard Group Inc. now owns 7,902,048 shares of the pipeline company’s stock valued at $94,825,000 after buying an additional 475,190 shares in the last quarter. 85.87% of the stock is currently 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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