SemGroup (NYSE:SEMG) Price Target Raised to $17.00

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SemGroup (NYSE:SEMG) had its price target hoisted by stock analysts at SunTrust Banks from $11.00 to $17.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the pipeline company’s stock. SunTrust Banks’ price objective would indicate a potential upside of 2.53% from the stock’s current price.

Several other analysts also recently commented on SEMG. Barclays restated a “sell” rating and set a $12.00 target price on shares of SemGroup in a report on Thursday, July 18th. Citigroup downgraded shares of SemGroup from a “buy” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $17.00 in a report on Monday. Zacks Investment Research upgraded shares of SemGroup from a “strong sell” rating to a “hold” rating and set a $11.00 target price on the stock in a report on Wednesday, May 29th. Royal Bank of Canada downgraded shares of SemGroup from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $19.00 to $11.00 in a report on Friday, August 23rd. Finally, ValuEngine upgraded shares of SemGroup from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.50.

SemGroup stock opened at $16.58 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.45 and a quick ratio of 1.36. The firm has a market capitalization of $818.10 million, a price-to-earnings ratio of -87.26 and a beta of 1.48. The company’s 50 day simple moving average is $10.15 and its 200 day simple moving average is $12.53. SemGroup has a fifty-two week low of $8.10 and a fifty-two week high of $23.35.

SemGroup (NYSE:SEMG) last announced its earnings results on Thursday, August 8th. The pipeline company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.25). The company had revenue of $674.94 million for the quarter, compared to analyst estimates of $579.04 million. SemGroup had a positive return on equity of 1.13% and a negative net margin of 0.94%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) earnings per share. As a group, analysts predict that SemGroup will post -1.19 EPS for the current fiscal year.

In other news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of SemGroup stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $16.61, for a total value of $93,720,396.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of SEMG. Point72 Asset Management L.P. acquired a new stake in shares of SemGroup in the second quarter valued at approximately $15,197,000. Zimmer Partners LP acquired a new stake in shares of SemGroup in the second quarter valued at approximately $7,256,000. Vanguard Group Inc. raised its holdings in shares of SemGroup by 6.4% in the second quarter. Vanguard Group Inc. now owns 7,902,048 shares of the pipeline company’s stock valued at $94,825,000 after purchasing an additional 475,190 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of SemGroup by 7.5% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 5,219,019 shares of the pipeline company’s stock valued at $76,928,000 after purchasing an additional 365,089 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in shares of SemGroup in the second quarter valued at approximately $4,112,000. Institutional investors own 87.95% of the company’s stock.

About SemGroup

SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. The company operates in three segments: U.S. Liquids, U.S. Gas, and Canada. The U.S. Liquids segment operates crude oil pipelines, truck transportation, storage, terminals, and marketing businesses; stores, blends, and transports refinery products and refinery feedstock through pipeline, barge, rail, truck, and ship; and operates a residual fuel oil storage terminal in the U.S.

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Analyst Recommendations for SemGroup (NYSE:SEMG)

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