SemGroup Corp (SEMG) Debt Trading 1% Higher
An issue of SemGroup Corp (NASDAQ:SEMG) debt rose 1% as a percentage of its face value during trading on Monday. The high-yield issue of debt has a 5.625% coupon and is set to mature on July 15, 2022. The debt is now trading at $95.25 and was trading at $94.00 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
SEMG has been the subject of several recent research reports. Citigroup Inc. began coverage on SemGroup Corp in a research note on Thursday, November 3rd. They issued a “neutral” rating and a $34.00 price target for the company. Goldman Sachs Group Inc. began 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, Zacks Investment Research lowered SemGroup Corp from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $37.75.
Shares of SemGroup Corp (NASDAQ:SEMG) traded up 3.78% during midday trading on Monday, hitting $35.65. The company had a trading volume of 626,219 shares. The firm’s 50 day moving average is $33.48 and its 200 day moving average is $31.95. SemGroup Corp has a 52 week low of $13.98 and a 52 week high of $36.16. The company’s market capitalization is $2.36 billion.
SemGroup Corp (NASDAQ:SEMG) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.28. The business earned $327.80 million during the quarter, compared to analysts’ expectations of $334.93 million. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue was down 17.5% on a year-over-year basis. Equities research analysts anticipate that SemGroup Corp will post ($0.06) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.05%. The ex-dividend date is Wednesday, November 16th.
A number of large investors have recently modified their holdings of the company. Swiss National Bank raised its stake in shares of SemGroup Corp by 22.4% in the second quarter. Swiss National Bank now owns 86,441 shares of the company’s stock valued at $2,815,000 after buying an additional 15,841 shares during the period. Emerald Acquisition Ltd. bought a new position in SemGroup Corp during the second quarter valued at approximately $2,017,000. California Public Employees Retirement System increased its position in SemGroup Corp by 58.7% in the second quarter. California Public Employees Retirement System now owns 120,800 shares of the company’s stock valued at $3,933,000 after buying an additional 44,700 shares in the last quarter. Jennison Associates LLC increased its position in SemGroup Corp by 136.1% in the second quarter. Jennison Associates LLC now owns 3,001,810 shares of the company’s stock valued at $97,739,000 after buying an additional 1,730,300 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its position in SemGroup Corp by 45.4% in the second quarter. Chickasaw Capital Management LLC now owns 6,131,877 shares of the company’s stock valued at $199,654,000 after buying an additional 1,913,205 shares in the last quarter.
SemGroup Corp Company Profile
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