Zacks Investment Research Downgrades SemGroup (SEMG) to Sell

SemGroup (NYSE:SEMG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, December 21st.

According to Zacks, “SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. The Company operates in the pipeline gathering and processing segments of the natural gas midstream industry in the U.S. and Canada. It conducts its business through seven business segments- SemCrude, SemStream, SemLogistics, SemMexico, SemCanada Crude, SemGas and SemCAMS. Its asset base includes pipelines, gathering systems, storage facilities, terminals, processing plants, blending facilities and other distribution assets. It also maintains and operates storage, terminal and marine facilities in the U.K. and operates a network of liquid asphalt cement terminals throughout Mexico. SemGroup Corp is headquartered in Tulsa, Oklahoma. “

SEMG has been the topic of a number of other reports. Royal Bank of Canada reissued a “buy” rating and set a $33.00 price target on shares of SemGroup in a report on Tuesday, November 7th. BidaskClub raised shares of SemGroup from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Barclays reissued a “hold” rating and set a $32.00 price target on shares of SemGroup in a report on Thursday, October 19th. Finally, SunTrust Banks set a $29.00 price objective on shares of SemGroup and gave the company a “buy” rating in a report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. SemGroup has a consensus rating of “Hold” and a consensus price target of $31.14.

Shares of SemGroup (SEMG) opened at $29.25 on Thursday. SemGroup has a twelve month low of $21.35 and a twelve month high of $42.40. The stock has a market cap of $2,258.25, a price-to-earnings ratio of -365.63, a P/E/G ratio of 12.93 and a beta of 2.03. The company has a current ratio of 1.24, a quick ratio of 1.01 and a debt-to-equity ratio of 1.78.

Large investors have recently bought and sold shares of the company. Century Capital Management LLC purchased a new position in shares of SemGroup in the second quarter worth about $651,000. Granite Point Capital Management L.P. purchased a new position in shares of SemGroup in the third quarter worth about $719,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of SemGroup by 72.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,095,436 shares of the pipeline company’s stock worth $29,577,000 after buying an additional 460,800 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of SemGroup in the third quarter worth about $665,000. Finally, Legal & General Group Plc lifted its stake in shares of SemGroup by 16.2% in the second quarter. Legal & General Group Plc now owns 64,179 shares of the pipeline company’s stock worth $1,733,000 after buying an additional 8,937 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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About SemGroup

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