SemGroup Corp (NYSE:SEMG) declared a quarterly dividend on Tuesday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be given a dividend of 0.4725 per share by the pipeline company on Monday, March 19th. This represents a $1.89 annualized dividend and a dividend yield of 8.18%. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from SemGroup’s previous quarterly dividend of $0.45.
SemGroup has increased its dividend by an average of 20.5% per year over the last three years. SemGroup has a dividend payout ratio of -720.0% meaning 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 $0.27 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 666.7%.
SemGroup (NYSE SEMG) opened at $23.10 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.01 and a current ratio of 1.24. SemGroup has a 12 month low of $21.35 and a 12 month high of $37.15. The stock has a market capitalization of $1,829.15, a P/E ratio of 18.45, a PEG ratio of 10.97 and a beta of 1.84.
Several research firms have recently issued reports on SEMG. SunTrust Banks reissued a “buy” rating and set a $26.00 target price on shares of SemGroup in a research note on Tuesday. Zacks Investment Research raised SemGroup from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub raised SemGroup from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Barclays reissued a “hold” rating and set a $28.00 target price on shares of SemGroup in a research note on Friday, January 19th. Finally, Royal Bank of Canada restated a “buy” rating and set a $33.00 price target on shares of SemGroup in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.57.
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.
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 MarketBeat.com's FREE daily email newsletter.