SemGroup Corp (NYSE:SEMG) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Investors of record on Monday, August 20th will be given a dividend of 0.4725 per share by the pipeline company on Wednesday, August 29th. This represents a $1.89 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, August 17th.
SemGroup has raised its dividend payment by an average of 20.5% per year over the last three years. SemGroup has a dividend payout ratio of 3,780.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect SemGroup to earn $0.93 per share next year, which means the company may not be able to cover its $1.89 annual dividend with an expected future payout ratio of 203.2%.
NYSE SEMG traded down $0.10 during mid-day trading on Wednesday, hitting $25.70. The stock had a trading volume of 483,754 shares, compared to its average volume of 905,192. SemGroup has a 52-week low of $20.20 and a 52-week high of $30.95. The company has a market capitalization of $2.03 billion, a P/E ratio of -108.33, a PEG ratio of 111.76 and a beta of 1.90. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.46 and a quick ratio of 1.34.
Several research firms have weighed in on SEMG. ValuEngine raised SemGroup from a “strong sell” rating to a “sell” rating in a research report on Monday, May 14th. Barclays raised their price target on SemGroup from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. BMO Capital Markets began coverage on SemGroup in a research report on Tuesday, June 12th. They set a “market perform” rating and a $25.00 price target for the company. Zacks Investment Research raised SemGroup from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Wells Fargo & Co downgraded SemGroup from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $30.95 to $20.20 in a research report on Sunday, June 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.80.
SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. Its Crude Transportation segment operates crude oil pipelines and truck transportation businesses. It operates a 455-mile crude oil gathering and transportation pipeline system in Kansas and northern Oklahoma; a 75-mile crude oil gathering pipeline system that transports crude oil from production facilities in the DJ Basin to the pipeline owned by White Cliffs Pipeline, LLC; a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma; and 3 pipelines with an aggregate of 106 miles of pipe, as well as crude oil trucking fleet of 215 transport trucks and 210 trailers.
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