SemGroup (NYSE:SEMG) PT Raised to $17.00 at SunTrust Banks

SemGroup (NYSE:SEMG) had its target price hoisted by SunTrust Banks from $11.00 to $17.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the pipeline company’s stock.

A number of other research analysts have also recently commented on SEMG. Royal Bank of Canada cut shares of 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 report on Friday, August 23rd. Citigroup cut shares of SemGroup from a buy rating to a neutral rating and upped their price target for the stock from $15.00 to $17.00 in a report on Monday, September 16th. Wells Fargo & Co upped their price target on shares of SemGroup from $10.00 to $17.00 and gave the stock a market perform rating in a report on Tuesday. Barclays restated a sell rating and issued a $12.00 price target on shares of SemGroup in a report on Thursday, July 18th. Finally, Zacks Investment Research raised shares of SemGroup from a strong sell rating to a hold rating and set a $11.00 price objective for the company in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $16.50.

NYSE SEMG opened at $16.81 on Tuesday. The company’s 50-day moving average price is $10.33 and its 200-day moving average price is $12.55. The company has a current ratio of 1.45, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1.31 billion, a PE ratio of -88.47 and a beta of 1.47. SemGroup has a 12 month low of $8.10 and a 12 month high of $22.96.

SemGroup (NYSE:SEMG) last posted its quarterly earnings results on Thursday, August 8th. The pipeline company reported ($0.45) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.25). The company had revenue of $674.94 million during the quarter, compared to the consensus estimate of $579.04 million. SemGroup had a positive return on equity of 1.13% and a negative net margin of 0.94%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) earnings per share. As a group, sell-side analysts forecast that SemGroup will post -1.26 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Thursday, August 15th were paid a $0.472 dividend. The ex-dividend date of this dividend was 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 yield of 11.23%. SemGroup’s dividend payout ratio is -994.74%.

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 shares were sold at an average price of $16.61, for a total value of $93,720,396.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of SemGroup by 0.8% during the first quarter. Rhumbline Advisers now owns 116,622 shares of the pipeline company’s stock valued at $1,719,000 after buying an additional 881 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of SemGroup by 31.9% during the second quarter. Quantamental Technologies LLC now owns 6,196 shares of the pipeline company’s stock valued at $74,000 after buying an additional 1,499 shares during the last quarter. Weiss Asset Management LP lifted its position in shares of SemGroup by 16.4% during the second quarter. Weiss Asset Management LP now owns 12,309 shares of the pipeline company’s stock valued at $148,000 after buying an additional 1,738 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of SemGroup by 1.5% during the second quarter. Cohen & Steers Inc. now owns 135,801 shares of the pipeline company’s stock valued at $1,630,000 after buying an additional 1,945 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of SemGroup during the first quarter valued at about $32,000. 87.95% of the stock is owned by institutional investors.

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. 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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