SemGroup Corp (SEMG) Announces Quarterly Earnings Results
SemGroup Corp (NASDAQ:SEMG) posted its earnings results on Monday. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.04, Morningstar.com reports. SemGroup Corp had a negative net margin of 2.25% and a negative return on equity of 2.88%. The business had revenue of $473 million for the quarter, compared to analysts’ expectations of $387.50 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was up 64.6% compared to the same quarter last year.
Shares of SemGroup Corp (SEMG) opened at 25.25 on Tuesday. SemGroup Corp has a 52-week low of $22.55 and a 52-week high of $43.20. The stock has a market cap of $1.67 billion and a PE ratio of 260.31. The stock’s 50 day moving average is $25.99 and its 200 day moving average is $32.85.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Friday, August 18th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend is Wednesday, August 16th.
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In related news, Director William J. Mcadam bought 15,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were purchased at an average price of $28.00 per share, with a total value of $420,000.00. Following the completion of the acquisition, the director now owns 4,077 shares of the company’s stock, valued at $114,156. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sarah Morrison Barpoulis sold 1,470 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $31.45, for a total transaction of $46,231.50. Following the completion of the transaction, the director now directly owns 13,130 shares in the company, valued at approximately $412,938.50. The disclosure for this sale can be found here. Insiders bought 22,324 shares of company stock worth $611,777 in the last three months.
Several institutional investors have recently added to or reduced their stakes in SEMG. Comerica Bank increased its position in SemGroup Corp by 0.6% in the first quarter. Comerica Bank now owns 7,412 shares of the company’s stock valued at $247,000 after buying an additional 41 shares during the period. Ameriprise Financial Inc. increased its stake in SemGroup Corp by 0.4% in the first quarter. Ameriprise Financial Inc. now owns 15,591 shares of the company’s stock worth $561,000 after buying an additional 65 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in SemGroup Corp by 7.1% in the second quarter. Miller Howard Investments Inc. NY now owns 10,871 shares of the company’s stock worth $294,000 after buying an additional 717 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in SemGroup Corp by 5.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,315 shares of the company’s stock worth $587,000 after buying an additional 800 shares during the last quarter. Finally, Keybank National Association OH increased its stake in SemGroup Corp by 10.2% in the first quarter. Keybank National Association OH now owns 10,020 shares of the company’s stock worth $361,000 after buying an additional 925 shares during the last quarter.
Several research firms have issued reports on SEMG. Zacks Investment Research upgraded shares of SemGroup Corp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Barclays PLC set a $36.00 target price on shares of SemGroup Corp and gave the stock a “hold” rating in a research note on Saturday, May 6th. UBS AG reiterated a “buy” rating and issued a $42.00 target price (down from $45.00) on shares of SemGroup Corp in a research note on Monday, June 12th. Wells Fargo & Company cut shares of SemGroup Corp from an “outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $41.00 target price (down from $42.00) on shares of SemGroup Corp in a research note on Tuesday, May 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. SemGroup Corp has an average rating of “Hold” and an average target price of $34.43.
SemGroup Corp Company Profile
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