Semgroup Corporation (NYSE:SEMG) shares rose 5.7% during trading on Thursday . The stock traded as high as $24.00 and last traded at $24.00. Approximately 1,354,065 shares were traded during trading, an increase of 65% from the average daily volume of 821,721 shares. The stock had previously closed at $22.70.

SEMG has been the topic of several recent research reports. BidaskClub cut shares of Semgroup from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $33.00 price objective on shares of Semgroup in a research note on Tuesday, August 29th. Finally, Barclays reissued a “hold” rating and issued a $32.00 price objective on shares of Semgroup in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.00.

The firm has a market capitalization of $1,888.44, a P/E ratio of 19.05 and a beta of 2.05. The company has a current ratio of 1.24, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 20th were paid a $0.45 dividend. The ex-dividend date was Friday, November 17th. This represents a $1.80 dividend on an annualized basis and a yield of 7.30%. Semgroup’s dividend payout ratio (DPR) is -2,250.00%.

A number of large investors have recently made changes to their positions in SEMG. IHT Wealth Management LLC bought a new position in Semgroup in the second quarter valued at approximately $119,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Semgroup in the third quarter valued at approximately $221,000. Amalgamated Bank boosted its position in Semgroup by 0.8% in the second quarter. Amalgamated Bank now owns 8,378 shares of the pipeline company’s stock valued at $226,000 after buying an additional 65 shares in the last quarter. Trexquant Investment LP acquired a new stake in Semgroup in the second quarter valued at approximately $227,000. Finally, Comerica Bank acquired a new stake in Semgroup in the third quarter valued at approximately $245,000. 98.00% of the stock is currently owned by institutional investors and hedge funds.

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About Semgroup

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