Zacks Investment Research lowered shares of Semgroup Corporation (NYSE:SEMG) from a hold rating to a strong sell rating in a research report report published on Wednesday morning.

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. “

A number of other equities research analysts have also recently commented on SEMG. BidaskClub cut Semgroup Corporation from a hold rating to a sell rating in a research note on Tuesday. Royal Bank Of Canada lowered their target price on Semgroup Corporation from $33.00 to $28.00 and set an outperform rating on the stock in a research note on Tuesday. Finally, SunTrust Banks, Inc. set a $29.00 price objective on Semgroup Corporation and gave the company a buy rating in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $31.50.

Semgroup Corporation (NYSE:SEMG) traded up $0.05 during midday trading on Wednesday, hitting $22.50. The stock had a trading volume of 1,340,000 shares, compared to its average volume of 751,710. The company has a market cap of $1,740.00, a PE ratio of 18.14 and a beta of 2.05. Semgroup Corporation has a 12 month low of $21.35 and a 12 month 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.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 20th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Friday, November 17th. Semgroup Corporation’s dividend payout ratio is currently -18,000.00%.

A number of institutional investors have recently made changes to their positions in SEMG. IHT Wealth Management LLC bought a new stake in Semgroup Corporation in the 2nd quarter valued at about $119,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Semgroup Corporation in the 3rd quarter valued at about $221,000. Amalgamated Bank raised its stake in Semgroup Corporation by 0.8% in the 2nd quarter. Amalgamated Bank now owns 8,378 shares of the pipeline company’s stock valued at $226,000 after acquiring an additional 65 shares during the period. Trexquant Investment LP bought a new stake in Semgroup Corporation in the 2nd quarter valued at about $227,000. Finally, Comerica Bank bought a new stake in Semgroup Corporation in the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 92.28% of the company’s stock.

Semgroup Corporation Company Profile

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