SemGroup (NYSE:SEMG) had its price objective hoisted by Wells Fargo & Co from $10.00 to $17.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a market perform rating on the pipeline company’s stock.

A number of other research analysts have also issued reports on SEMG. Zacks Investment Research raised SemGroup from a strong sell rating to a hold rating and set a $11.00 target price on the stock in a report on Wednesday, May 29th. Barclays reissued a sell rating and issued a $12.00 target price on shares of SemGroup in a report on Thursday, July 18th. Citigroup lowered SemGroup from a buy rating to a neutral rating and boosted their target price for the company from $15.00 to $17.00 in a report on Monday, September 16th. SunTrust Banks reissued a hold rating and issued a $15.00 target price on shares of SemGroup in a report on Tuesday, May 28th. Finally, Royal Bank of Canada lowered SemGroup from an outperform rating to a sector perform rating and dropped their target price for the company from $19.00 to $11.00 in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. SemGroup currently has an average rating of Hold and a consensus price target of $16.50.

NYSE:SEMG opened at $16.81 on Tuesday. The firm has a market cap of $1.31 billion, a P/E ratio of -88.47 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.36 and a debt-to-equity ratio of 1.19. The stock’s 50 day simple moving average is $10.33 and its 200-day simple moving average is $12.55. SemGroup has a 12-month low of $8.10 and a 12-month high of $22.96.

SemGroup (NYSE:SEMG) last released its earnings results on Thursday, August 8th. The pipeline company reported ($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.25). The company had revenue of $674.94 million during the quarter, compared to analyst estimates of $579.04 million. SemGroup had a negative net margin of 0.94% and a positive return on equity of 1.13%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) EPS. Research analysts forecast that SemGroup will post -1.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Thursday, August 15th were issued a dividend of $0.472 per share. This represents a $1.89 dividend on an annualized basis and a yield of 11.23%. The ex-dividend date was Wednesday, August 14th. This is a positive change from SemGroup’s previous quarterly dividend of $0.42. SemGroup’s dividend payout ratio is currently -994.74%.

In related news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $16.61, for a total transaction of $93,720,396.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Cadence Capital Management LLC acquired a new position in SemGroup during the second quarter worth $3,173,000. Catalyst Capital Advisors LLC grew its holdings in SemGroup by 14.4% during the second quarter. Catalyst Capital Advisors LLC now owns 709,516 shares of the pipeline company’s stock worth $8,514,000 after acquiring an additional 89,153 shares during the period. Weiss Asset Management LP acquired a new position in SemGroup during the first quarter worth $156,000. Aperio Group LLC grew its holdings in SemGroup by 15.8% during the second quarter. Aperio Group LLC now owns 34,206 shares of the pipeline company’s stock worth $410,000 after acquiring an additional 4,666 shares during the period. Finally, Swiss National Bank grew its holdings in SemGroup by 15.6% during the second quarter. Swiss National Bank now owns 125,041 shares of the pipeline company’s stock worth $1,500,000 after acquiring an additional 16,900 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

About SemGroup

SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. The company operates in three segments: U.S. Liquids, U.S. Gas, and Canada. The U.S. Liquids segment operates crude oil pipelines, truck transportation, storage, terminals, and marketing businesses; stores, blends, and transports refinery products and refinery feedstock through pipeline, barge, rail, truck, and ship; and operates a residual fuel oil storage terminal in the U.S.

Recommended Story: What is dollar cost averaging (DCA)?

The Fly

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's FREE daily email newsletter.