Cushing Asset Management LP reduced its position in SemGroup Corp (NYSE:SEMG) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,124,101 shares of the pipeline company’s stock after selling 60,264 shares during the quarter. SemGroup comprises approximately 1.9% of Cushing Asset Management LP’s portfolio, making the stock its 15th biggest position. Cushing Asset Management LP owned approximately 2.70% of SemGroup worth $64,148,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of SemGroup by 1,087.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,750 shares of the pipeline company’s stock valued at $143,000 after acquiring an additional 4,350 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of SemGroup during the fourth quarter worth $156,000. Capital Innovations LLC acquired a new stake in shares of SemGroup during the fourth quarter worth $219,000. Fox Run Management L.L.C. acquired a new stake in shares of SemGroup during the fourth quarter worth $228,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of SemGroup during the third quarter worth $221,000.
Several equities research analysts recently weighed in on SEMG shares. Zacks Investment Research downgraded SemGroup from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 15th. ValuEngine downgraded SemGroup from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Royal Bank of Canada decreased their price target on SemGroup from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday, November 14th. Goldman Sachs Group downgraded SemGroup from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a report on Friday, January 5th. Finally, Wells Fargo & Co raised SemGroup from a “market perform” rating to an “outperform” rating in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.63.
SemGroup (NYSE:SEMG) last released its quarterly earnings data on Monday, February 26th. The pipeline company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $606.80 million during the quarter, compared to analysts’ expectations of $560.34 million. SemGroup had a positive return on equity of 5.14% and a negative net margin of 0.82%. SemGroup’s revenue was up 50.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. equities analysts expect that SemGroup Corp will post 0.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be given a $0.4725 dividend. This is a boost from SemGroup’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, March 8th. This represents a $1.89 annualized dividend and a yield of 8.24%. SemGroup’s dividend payout ratio is presently 18,900.00%.
In other SemGroup news, Director William J. Mcadam acquired 10,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $22.73 per share, for a total transaction of $227,300.00. Following the completion of the transaction, the director now owns 4,077 shares of the company’s stock, valued at approximately $92,670.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.77% of the company’s stock.
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.
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