Barclays Lowers SemGroup (NYSE:SEMG) to Underweight

SemGroup (NYSE:SEMG) was downgraded by stock analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued on Tuesday, April 16th, Marketbeat.com reports. They presently have a $13.00 target price on the pipeline company’s stock, down from their prior target price of $15.00. Barclays‘s price target would suggest a potential upside of 1.72% from the stock’s previous close.

Several other brokerages have also recently weighed in on SEMG. Zacks Investment Research cut SemGroup from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. ValuEngine lowered SemGroup from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. UBS Group lowered SemGroup from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $19.00 to $14.50 in a research report on Thursday, March 7th. BMO Capital Markets restated a “market perform” rating and set a $25.00 target price on shares of SemGroup in a research report on Monday, March 4th. Finally, SunTrust Banks lowered SemGroup from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Monday, January 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.19.

Shares of SemGroup stock traded up $0.84 during trading on Tuesday, reaching $12.78. The company’s stock had a trading volume of 2,222,838 shares, compared to its average volume of 1,204,863. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. SemGroup has a one year low of $11.69 and a one year high of $26.78. The stock has a market capitalization of $949.77 million, a price-to-earnings ratio of -67.26 and a beta of 1.74.

SemGroup (NYSE:SEMG) last announced its quarterly earnings data on Wednesday, February 27th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.10). The firm had revenue of $611.86 million for the quarter, compared to the consensus estimate of $623.89 million. SemGroup had a positive return on equity of 2.44% and a negative net margin of 0.02%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts anticipate that SemGroup will post -0.36 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of SemGroup in the 4th quarter valued at approximately $50,000. Quantamental Technologies LLC acquired a new position in shares of SemGroup in the 1st quarter valued at approximately $69,000. Public Employees Retirement System of Ohio grew its position in shares of SemGroup by 13.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,113 shares of the pipeline company’s stock valued at $70,000 after purchasing an additional 593 shares during the period. Icon Wealth Partners LLC acquired a new position in shares of SemGroup in the 1st quarter valued at approximately $78,000. Finally, PNC Financial Services Group Inc. grew its position in shares of SemGroup by 207.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,371 shares of the pipeline company’s stock valued at $185,000 after purchasing an additional 9,018 shares during the period. Institutional investors and hedge funds own 98.45% 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.

Further Reading: Gross Domestic Product (GDP)

Analyst Recommendations for SemGroup (NYSE:SEMG)

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