SemGroup (SEMG) Given New $27.00 Price Target at Citigroup
A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of SemGroup from a strong sell rating to a hold rating in a research report on Wednesday, November 22nd. Morgan Stanley decreased their price objective on shares of SemGroup from $32.00 to $29.00 and set an equal weight rating for the company in a research report on Friday, November 17th. SunTrust Banks set a $29.00 price objective on shares of SemGroup and gave the company a buy rating in a research report on Friday, November 10th. Barclays decreased their price objective on shares of SemGroup from $32.00 to $29.00 and set an equal weight rating for the company in a research report on Wednesday, November 29th. Finally, Royal Bank of Canada decreased their price objective on shares of SemGroup from $33.00 to $28.00 and set an outperform rating for the company in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $28.63.
SemGroup (NYSE:SEMG) opened at $22.40 on Wednesday. SemGroup has a 12-month low of $21.35 and a 12-month high of $36.95. The company has a market cap of $1,760.00, a PE ratio of 2,240.00, a PEG ratio of 7.54 and a beta of 1.98. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.18 and a quick ratio of 1.01.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be issued a dividend of $0.4725 per share. This is an increase from SemGroup’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 8th. This represents a $1.89 annualized dividend and a dividend yield of 8.44%. SemGroup’s payout ratio is presently 18,000.00%.
In related news, Director William J. Mcadam bought 10,000 shares of SemGroup stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $22.73 per share, with a total value of $227,300.00. Following the acquisition, the director now owns 4,077 shares of the company’s stock, valued at approximately $92,670.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.77% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of SemGroup by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,501 shares of the pipeline company’s stock worth $1,391,000 after buying an additional 557 shares during the period. Macquarie Group Ltd. raised its stake in SemGroup by 14.9% in the 4th quarter. Macquarie Group Ltd. now owns 22,400 shares of the pipeline company’s stock worth $1,924,000 after purchasing an additional 2,900 shares in the last quarter. California Public Employees Retirement System raised its stake in SemGroup by 3.1% in the 4th quarter. California Public Employees Retirement System now owns 101,200 shares of the pipeline company’s stock worth $3,056,000 after purchasing an additional 3,000 shares in the last quarter. American International Group Inc. raised its stake in SemGroup by 8.1% in the 3rd quarter. American International Group Inc. now owns 44,536 shares of the pipeline company’s stock worth $1,280,000 after purchasing an additional 3,329 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in SemGroup by 38.9% in the 2nd quarter. Royal Bank of Canada now owns 13,028 shares of the pipeline company’s stock worth $351,000 after purchasing an additional 3,647 shares in the last quarter.
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SemGroup Company Profile
SemGroup Corporation is a provider of gathering, transportation, storage, distribution, marketing and other midstream services to producers, refiners of petroleum products and other market participants located in the Midwest and Rocky Mountain regions of the United States and Canada. The Company’s segments include Crude Transportation, which operates crude oil pipelines and truck transportation businesses in the United States; Crude Facilities, which operates crude oil storage and terminal businesses in the United States; Crude Supply and Logistics, which operates a crude oil marketing business; SemGas, which provides natural gas gathering and processing services; SemCAMS, which operates natural gas processing and gathering facilities in Alberta, Canada; SemLogistics, which owns petroleum products storage facility in the United Kingdom, and SemMexico, which provides liquid asphalt cement products and product application services to the Mexican market, and Corporate and Other.
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