SemGroup (SEMG) Receives “Buy” Rating from Royal Bank of Canada

SemGroup (NYSE:SEMG)‘s stock had its “buy” rating reiterated by Royal Bank of Canada in a research note issued to investors on Sunday. They currently have a $35.00 price target on the pipeline company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 19.25% from the stock’s previous close.

SEMG has been the subject of a number of other reports. Zacks Investment Research downgraded shares of SemGroup from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 15th. BidaskClub downgraded shares of SemGroup from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Goldman Sachs Group downgraded shares of SemGroup from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research report on Friday, January 5th. Wells Fargo & Co upgraded shares of SemGroup from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 14th. Finally, US Capital Advisors downgraded shares of SemGroup from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. SemGroup presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Shares of SemGroup (NYSE:SEMG) traded down $0.20 during mid-day trading on Friday, reaching $29.35. 1,115,699 shares of the company’s stock traded hands, compared to its average volume of 1,092,229. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.24 and a quick ratio of 1.01. The firm has a market capitalization of $2,310.00, a P/E ratio of -2,935.00, a PEG ratio of 13.31 and a beta of 2.00. SemGroup has a 1 year low of $21.35 and a 1 year high of $42.40.

SemGroup (NYSE:SEMG) last issued its quarterly earnings data on Thursday, November 9th. The pipeline company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15. SemGroup had a negative net margin of 0.41% and a positive return on equity of 5.96%. The firm had revenue of $545.90 million during the quarter, compared to the consensus estimate of $474.83 million. During the same period last year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 66.5% compared to the same quarter last year. research analysts forecast that SemGroup will post -0.25 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granite Point Capital Management L.P. acquired a new position in SemGroup during the third quarter valued at approximately $719,000. First Trust Advisors LP acquired a new position in SemGroup during the third quarter valued at approximately $665,000. Legal & General Group Plc raised its position in SemGroup by 15.0% during the third quarter. Legal & General Group Plc now owns 73,783 shares of the pipeline company’s stock valued at $2,121,000 after purchasing an additional 9,604 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in SemGroup by 17.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 409,289 shares of the pipeline company’s stock valued at $11,768,000 after purchasing an additional 60,367 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in SemGroup by 35.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 27,474 shares of the pipeline company’s stock valued at $790,000 after purchasing an additional 7,119 shares in the last quarter. Institutional investors own 98.28% of the company’s stock.

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SemGroup Company Profile

SemGroup Corporation is a provider of gathering, transportation, storage, distribution, marketing and other midstream services to producers, refiners of petroleum products and other market participants located in the Midwest and Rocky Mountain regions of the United States and Canada. The Company’s segments include Crude Transportation, which operates crude oil pipelines and truck transportation businesses in the United States; Crude Facilities, which operates crude oil storage and terminal businesses in the United States; Crude Supply and Logistics, which operates a crude oil marketing business; SemGas, which provides natural gas gathering and processing services; SemCAMS, which operates natural gas processing and gathering facilities in Alberta, Canada; SemLogistics, which owns petroleum products storage facility in the United Kingdom, and SemMexico, which provides liquid asphalt cement products and product application services to the Mexican market, and Corporate and Other.

Analyst Recommendations for SemGroup (NYSE:SEMG)

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