SemGroup (SEMG) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of SemGroup (NYSE:SEMG) from a hold rating to a sell rating in a research report released on Friday, February 2nd.

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. “

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a buy rating and issued a $33.00 target price 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 objective on shares of SemGroup in a report on Thursday, October 19th. Goldman Sachs Group downgraded shares of SemGroup from a buy rating to a neutral rating and set a $32.00 price objective for the company. in a report on Friday, January 5th. Finally, SunTrust Banks set a $29.00 target price on shares of SemGroup and gave the company a buy rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. SemGroup currently has a consensus rating of Hold and a consensus target price of $32.00.

Shares of SemGroup (NYSE SEMG) opened at $26.25 on Friday. The company has a market capitalization of $1,998.65, a P/E ratio of 20.16, a PEG ratio of 11.98 and a beta of 1.87. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.24 and a quick ratio of 1.01. SemGroup has a 12-month low of $21.35 and a 12-month high of $41.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC acquired a new stake in SemGroup in the second quarter valued at approximately $119,000. Nisa Investment Advisors LLC lifted its stake in shares of SemGroup by 1,087.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,750 shares of the pipeline company’s stock worth $143,000 after buying an additional 4,350 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of SemGroup during the fourth quarter worth $156,000. Capital Innovations LLC acquired a new stake in shares of SemGroup during the fourth quarter worth $219,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of SemGroup during the third quarter worth $221,000.

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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.

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