Raymond James & Associates lessened its holdings in shares of SemGroup Corp (NYSE:SEMG) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,581 shares of the pipeline company’s stock after selling 4,543 shares during the quarter. Raymond James & Associates owned 0.13% of SemGroup worth $2,529,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in SemGroup by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,280,734 shares of the pipeline company’s stock worth $159,530,000 after buying an additional 516,765 shares during the period. First Trust Advisors LP raised its stake in SemGroup by 288.7% during the 2nd quarter. First Trust Advisors LP now owns 65,449 shares of the pipeline company’s stock worth $1,662,000 after buying an additional 48,610 shares during the period. Global Financial Private Capital LLC acquired a new stake in SemGroup during the 2nd quarter worth $228,000. Schwab Charles Investment Management Inc. raised its stake in SemGroup by 19.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 583,115 shares of the pipeline company’s stock worth $14,812,000 after buying an additional 93,554 shares during the period. Finally, Perella Weinberg Partners Capital Management LP acquired a new stake in SemGroup during the 2nd quarter worth $3,357,000.
Several brokerages recently commented on SEMG. ValuEngine raised SemGroup from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Wells Fargo & Co downgraded SemGroup from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.95 to $20.20 in a research note on Sunday, June 10th. Zacks Investment Research downgraded SemGroup from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $26.00 price objective on shares of SemGroup in a research note on Friday, July 13th. Finally, Royal Bank of Canada dropped their price objective on SemGroup from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.22.
SemGroup (NYSE:SEMG) last released its earnings results on Wednesday, August 8th. The pipeline company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.12). The firm had revenue of $595.80 million for the quarter, compared to the consensus estimate of $602.06 million. SemGroup had a positive return on equity of 2.44% and a negative net margin of 2.17%. SemGroup’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. As a group, sell-side analysts forecast that SemGroup Corp will post 0.07 earnings per share for the current year.
SemGroup Corporation provides gathering, transportation, storage, distribution, marketing, and other midstream services for producers, refiners of petroleum products, and other market participants. Its Crude Transportation segment operates crude oil pipelines and truck transportation businesses. It operates a 455-mile crude oil gathering and transportation pipeline system in Kansas and northern Oklahoma; a 75-mile crude oil gathering pipeline system that transports crude oil from production facilities in the DJ Basin to the pipeline owned by White Cliffs Pipeline, LLC; a 527-mile pipeline that transports crude oil from Platteville, Colorado to Cushing, Oklahoma; and 3 pipelines with an aggregate of 106 miles of pipe, as well as crude oil trucking fleet of 215 transport trucks and 210 trailers.
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