Semgroup Corporation (NYSE:SEMG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued 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. “

Several other research firms have also weighed in on SEMG. Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Semgroup Corporation in a research note on Tuesday, August 29th. BidaskClub raised Semgroup Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Morgan Stanley reduced their target price on Semgroup Corporation from $32.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Finally, SunTrust Banks, Inc. set a $29.00 target price on Semgroup Corporation and gave the stock a “buy” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $31.50.

Shares of Semgroup Corporation (NYSE SEMG) opened at $22.70 on Wednesday. Semgroup Corporation has a 12 month low of $21.35 and a 12 month high of $43.20. The firm has a market capitalization of $1,797.95, a P/E ratio of 18.14 and a beta of 2.08. 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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Large investors have recently bought and sold shares of the business. IHT Wealth Management LLC acquired a new position in Semgroup Corporation during the 2nd quarter worth $119,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Semgroup Corporation during the 3rd quarter worth $221,000. Amalgamated Bank lifted its holdings in 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 buying an additional 65 shares in the last quarter. Trexquant Investment LP acquired a new position in Semgroup Corporation during the 2nd quarter worth $227,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Semgroup Corporation by 537.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,114 shares of the pipeline company’s stock worth $246,000 after buying an additional 7,684 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Semgroup Corporation Company Profile

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