Semgroup Corporation (NYSE:SEMG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday.

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 analysts have also recently commented on SEMG. BidaskClub cut shares of Semgroup Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Royal Bank Of Canada cut their price target on shares of Semgroup Corporation from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays PLC reaffirmed a “hold” rating and set a $32.00 price target on shares of Semgroup Corporation in a research report on Thursday, October 19th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $36.00 price target on shares of Semgroup Corporation in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Semgroup Corporation presently has an average rating of “Hold” and an average target price of $33.17.

Shares of Semgroup Corporation (NYSE:SEMG) opened at $22.85 on Wednesday. The firm has a market capitalization of $1,841.22, a price-to-earnings ratio of 18.57, a P/E/G ratio of 2.41 and a beta of 2.08. Semgroup Corporation has a 1-year low of $22.55 and a 1-year 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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A number of institutional investors and hedge funds have recently modified their holdings of SEMG. Ameriprise Financial Inc. boosted its position in shares of Semgroup Corporation by 0.4% during the 1st quarter. Ameriprise Financial Inc. now owns 15,591 shares of the pipeline company’s stock worth $561,000 after purchasing an additional 65 shares in the last quarter. Amalgamated Bank boosted its position in shares of Semgroup Corporation by 0.8% during the 2nd quarter. Amalgamated Bank now owns 8,378 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 65 shares in the last quarter. CNH Partners LLC boosted its position in shares of Semgroup Corporation by 0.6% during the 2nd quarter. CNH Partners LLC now owns 16,033 shares of the pipeline company’s stock worth $433,000 after purchasing an additional 100 shares in the last quarter. IHT Wealth Management LLC bought a new position in shares of Semgroup Corporation during the 2nd quarter worth about $119,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Semgroup Corporation by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,501 shares of the pipeline company’s stock worth $1,391,000 after purchasing an additional 557 shares in the last quarter. 92.28% of the stock is currently owned by institutional investors and hedge funds.

Semgroup Corporation Company Profile

Analyst Recommendations for Semgroup Corporation (NYSE:SEMG)

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