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.

Shares of SemGroup (SEMG) traded down $0.45 during trading on Wednesday, hitting $28.30. 659,800 shares of the stock were exchanged, compared to its average volume of 1,212,600. The firm has a market cap of $2,230.00, a PE ratio of -2,830.00, a price-to-earnings-growth ratio of 12.57 and a beta of 2.00. SemGroup has a fifty-two week low of $21.35 and a fifty-two week high of $42.40. The company has a quick ratio of 1.01, a current ratio of 1.24 and a debt-to-equity ratio of 1.78.

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.

TRADEMARK VIOLATION WARNING: “SemGroup (SEMG) Upgraded at Zacks Investment Research” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.thecerbatgem.com/2018/01/10/semgroup-semg-upgraded-at-zacks-investment-research.html.

SemGroup Company Profile

Get a free copy of the Zacks research report on SemGroup (SEMG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SemGroup (NYSE:SEMG)

Receive News & Ratings for SemGroup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SemGroup and related companies with MarketBeat.com's FREE daily email newsletter.