SemGroup (SEMG) Upgraded at Zacks Investment Research
SemGroup (NYSE:SEMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to 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. “
SEMG has been the topic of a number of other reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $33.00 target price on shares of SemGroup in a report on Tuesday, November 7th. BidaskClub raised shares of SemGroup from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Barclays reaffirmed a “hold” rating and issued a $32.00 target price on shares of SemGroup in a report on Thursday, October 19th. Goldman Sachs Group cut shares of SemGroup from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a report on Friday, January 5th. Finally, SunTrust Banks set a $29.00 price objective on shares of SemGroup and gave the company a “buy” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.14.
Institutional investors and hedge funds have recently made changes to their positions in the business. Century Capital Management LLC acquired a new position in shares of SemGroup during the 2nd quarter worth $651,000. Granite Point Capital Management L.P. acquired a new position in shares of SemGroup during the 3rd quarter worth $719,000. First Trust Advisors LP purchased a new stake in shares of SemGroup in the 3rd quarter worth about $665,000. Legal & General Group Plc boosted its position in shares of SemGroup by 16.2% in the 2nd quarter. Legal & General Group Plc now owns 64,179 shares of the pipeline company’s stock worth $1,733,000 after buying an additional 8,937 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of SemGroup by 6.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 348,922 shares of the pipeline company’s stock worth $9,421,000 after buying an additional 21,574 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors.
SemGroup Company Profile
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