Semgroup Corporation (NYSE:SEMG) declared a quarterly dividend on Monday, August 7th, Zacks reports. Investors of record on Friday, August 18th will be given a dividend of 0.45 per share by the pipeline company on Monday, August 28th. This represents a $1.80 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend is Wednesday, August 16th.

Semgroup Corporation has raised its dividend payment by an average of 44.2% annually over the last three years and has increased its dividend every year for the last 3 years. Semgroup Corporation has a dividend payout ratio of 187.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Semgroup Corporation to earn $1.71 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 105.3%.

Semgroup Corporation (NYSE SEMG) opened at 23.85 on Friday. Semgroup Corporation has a 1-year low of $22.55 and a 1-year high of $43.20. The stock has a market cap of $1.88 billion, a P/E ratio of 236.14 and a beta of 2.03. The company has a 50-day moving average of $25.96 and a 200 day moving average of $32.24.

A number of research analysts have commented on the stock. Royal Bank Of Canada decreased their target price on shares of Semgroup Corporation from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 10th. Barclays PLC cut shares of Semgroup Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $36.00 to $32.00 in a research report on Wednesday, June 14th. BidaskClub raised shares of Semgroup Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Wells Fargo & Company cut shares of Semgroup Corporation from an “outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Finally, Morgan Stanley decreased their target price on shares of Semgroup Corporation from $39.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $34.00.

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About Semgroup Corporation

Dividend History for Semgroup Corporation (NYSE:SEMG)

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