SemGroup (NYSE:SEMG) Price Target Increased to $17.00 by Analysts at Wells Fargo & Co

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SemGroup (NYSE:SEMG) had its price target increased by stock analysts at Wells Fargo & Co from $10.00 to $17.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “market perform” rating on the pipeline company’s stock. Wells Fargo & Co‘s price target would suggest a potential upside of 2.53% from the company’s current price.

Several other equities research analysts have also issued reports on the company. ValuEngine raised SemGroup from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. SunTrust Banks reiterated a “hold” rating and issued a $15.00 price target on shares of SemGroup in a report on Tuesday, May 28th. Zacks Investment Research upgraded SemGroup from a “strong sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a report on Wednesday, May 29th. Barclays restated a “sell” rating and set a $12.00 price objective on shares of SemGroup in a report on Thursday, July 18th. Finally, Citigroup cut SemGroup from a “buy” rating to a “neutral” rating and increased their target price for the company from $15.00 to $17.00 in a research report on Monday. One investment 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 company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.50.

Shares of SEMG opened at $16.58 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 1.45 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $12.53. The stock has a market cap of $818.10 million, a price-to-earnings ratio of -87.26 and a beta of 1.48. SemGroup has a 52 week low of $8.10 and a 52 week high of $23.35.

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

In other news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $16.61, for a total transaction of $93,720,396.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC acquired a new position in SemGroup in the second quarter valued at $885,000. Zimmer Partners LP acquired a new stake in SemGroup in the second quarter valued at about $7,256,000. Advisors Capital Management LLC lifted its position in SemGroup by 9.6% in the second quarter. Advisors Capital Management LLC now owns 626,421 shares of the pipeline company’s stock valued at $7,517,000 after purchasing an additional 55,041 shares during the period. Nuveen Asset Management LLC purchased a new position in SemGroup in the second quarter valued at about $4,112,000. Finally, Cubist Systematic Strategies LLC increased its holdings in SemGroup by 125.5% in the second quarter. Cubist Systematic Strategies LLC now owns 77,798 shares of the pipeline company’s stock valued at $934,000 after buying an additional 43,293 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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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