SemGroup (SEMG) Given New $27.00 Price Target at Citigroup
SemGroup (NYSE:SEMG) had its price objective reduced by Citigroup from $34.00 to $27.00 in a report released on Wednesday morning. They currently have a neutral rating on the pipeline company’s stock.
Several other equities analysts have also recently commented on SEMG. Zacks Investment Research upgraded shares of SemGroup from a sell rating to a hold rating in a research report on Wednesday, January 10th. SunTrust Banks set a $26.00 target price on shares of SemGroup and gave the company a buy rating in a research report on Tuesday, February 27th. BidaskClub upgraded shares of SemGroup from a sell rating to a hold rating in a research report on Thursday, November 2nd. Barclays restated a hold rating and issued a $28.00 target price on shares of SemGroup in a research report on Friday, January 19th. Finally, Royal Bank of Canada restated a buy rating and issued a $33.00 target price on shares of SemGroup in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $28.63.
Shares of 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 quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 1.72. The firm has a market cap of $1,760.00, a PE ratio of 2,240.00, a price-to-earnings-growth ratio of 7.54 and a beta of 1.98.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be given a $0.4725 dividend. The ex-dividend date is Thursday, March 8th. This is a boost from SemGroup’s previous quarterly dividend of $0.45. This represents a $1.89 annualized dividend and a dividend yield of 8.44%. SemGroup’s payout ratio is presently 18,000.00%.
In other news, Director William J. Mcadam bought 10,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $22.73 per share, for a total transaction of $227,300.00. Following the transaction, the director now owns 4,077 shares of the company’s stock, valued at $92,670.21. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its position in SemGroup by 1,087.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,750 shares of the pipeline company’s stock worth $143,000 after purchasing an additional 4,350 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in SemGroup during the 4th quarter worth approximately $156,000. Capital Innovations LLC acquired a new position in SemGroup during the 4th quarter worth approximately $219,000. Fox Run Management L.L.C. acquired a new position in SemGroup during the 4th quarter worth approximately $228,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in SemGroup during the 3rd quarter worth approximately $221,000.
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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