Zacks Investment Research cut shares of SemGroup (NYSE:SEMG) from a hold rating to a sell rating in a research note released on Friday.

According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “

Other research analysts also recently issued research reports about the stock. SunTrust Banks set a $29.00 price target on shares of SemGroup and gave the stock a buy rating in a research note on Thursday, November 16th. Wells Fargo & Company upgraded shares of SemGroup from a market perform rating to an outperform rating in a research note on Thursday. BidaskClub downgraded shares of SemGroup from a hold rating to a sell rating in a research note on Tuesday, November 14th. Barclays reiterated a hold rating and issued a $32.00 price target on shares of SemGroup in a research note on Thursday, October 19th. Finally, Morgan Stanley decreased their price target on shares of SemGroup from $32.00 to $29.00 and set an equal weight rating for the company in a research note on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $31.00.

Shares of SemGroup (SEMG) traded down $0.15 during trading on Friday, reaching $27.80. 2,139,002 shares of the company were exchanged, compared to its average volume of 1,120,212. SemGroup has a one year low of $21.35 and a one year high of $43.20. The company has a quick ratio of 1.01, a current ratio of 1.24 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $2,199.24, a P/E ratio of 22.18 and a beta of 2.04.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 20th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.80 annualized dividend and a dividend yield of 6.47%. SemGroup’s dividend payout ratio is presently -2,250.00%.

Several large investors have recently modified their holdings of SEMG. Harvest Fund Advisors LLC lifted its position in shares of SemGroup by 25.2% during the 3rd quarter. Harvest Fund Advisors LLC now owns 7,429,829 shares of the pipeline company’s stock worth $213,608,000 after buying an additional 1,496,078 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of SemGroup by 3,708.7% during the 3rd quarter. Citadel Advisors LLC now owns 1,242,255 shares of the pipeline company’s stock worth $35,714,000 after buying an additional 1,209,639 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of SemGroup by 2,321.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,078,632 shares of the pipeline company’s stock worth $29,123,000 after buying an additional 1,034,091 shares during the last quarter. Atlantic Trust Group LLC lifted its position in shares of SemGroup by 28.8% during the 2nd quarter. Atlantic Trust Group LLC now owns 3,152,498 shares of the pipeline company’s stock worth $85,118,000 after buying an additional 704,788 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of SemGroup by 16.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,645,268 shares of the pipeline company’s stock worth $133,552,000 after buying an additional 667,217 shares during the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.

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SemGroup Company Profile

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