SemGroup Corp (SEMG) Bond Prices Rise 1%
An issue of SemGroup Corp (NASDAQ:SEMG) bonds rose 1% as a percentage of their face value during trading on Friday. The debt issue has a 5.625% coupon and is set to mature on July 15, 2022. The bonds in the issue are now trading at $95.25 and were trading at $94.00 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
A number of analysts have issued reports on SEMG shares. Zacks Investment Research raised SemGroup Corp from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday, November 9th. Goldman Sachs Group Inc. initiated coverage on SemGroup Corp in a research report on Thursday, August 25th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Citigroup Inc. initiated coverage on SemGroup Corp in a research report on Thursday, November 3rd. They set a “neutral” rating and a $34.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.75.
Shares of SemGroup Corp (NASDAQ:SEMG) opened at 34.35 on Friday. The firm’s market cap is $2.27 billion. The stock’s 50 day moving average price is $33.35 and its 200-day moving average price is $31.73. SemGroup Corp has a 52-week low of $13.98 and a 52-week high of $36.64.
SemGroup Corp (NASDAQ:SEMG) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.28. The firm earned $327.80 million during the quarter, compared to analyst estimates of $334.93 million. The firm’s revenue was down 17.5% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that SemGroup Corp will post ($0.06) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.24%.
Several hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new stake in SemGroup Corp during the third quarter worth approximately $203,000. Credit Suisse AG increased its stake in shares of SemGroup Corp by 100.4% in the third quarter. Credit Suisse AG now owns 100,809 shares of the company’s stock valued at $3,564,000 after buying an additional 50,508 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of SemGroup Corp during the third quarter valued at about $416,000. Dai Ichi Life Holdings Inc. bought a new stake in shares of SemGroup Corp during the third quarter valued at about $2,709,000. Finally, Cetera Advisor Networks LLC bought a new stake in shares of SemGroup Corp during the third quarter valued at about $1,051,000.
About SemGroup Corp
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