Wells Fargo & Company MN Purchases 23,985 Shares of SemGroup Corp (SEMG)

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Wells Fargo & Company MN raised its position in SemGroup Corp (NYSE:SEMG) by 22.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,208 shares of the pipeline company’s stock after acquiring an additional 23,985 shares during the quarter. Wells Fargo & Company MN’s holdings in SemGroup were worth $2,851,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SEMG. Millennium Management LLC lifted its holdings in SemGroup by 637.9% in the fourth quarter. Millennium Management LLC now owns 2,806,776 shares of the pipeline company’s stock valued at $84,765,000 after acquiring an additional 2,426,406 shares during the period. Brookfield Asset Management Inc. bought a new position in SemGroup in the fourth quarter valued at about $17,825,000. Bank of New York Mellon Corp lifted its holdings in SemGroup by 35.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,206,107 shares of the pipeline company’s stock valued at $36,424,000 after acquiring an additional 315,078 shares during the period. BlackRock Inc. lifted its holdings in SemGroup by 4.4% in the fourth quarter. BlackRock Inc. now owns 4,576,876 shares of the pipeline company’s stock valued at $138,222,000 after acquiring an additional 192,956 shares during the period. Finally, Global X Management Co. LLC lifted its holdings in SemGroup by 14.3% in the first quarter. Global X Management Co. LLC now owns 738,655 shares of the pipeline company’s stock valued at $15,807,000 after acquiring an additional 92,534 shares during the period.

Shares of SEMG opened at $25.85 on Monday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.46 and a quick ratio of 1.34. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -107.71, a P/E/G ratio of 126.72 and a beta of 1.91. SemGroup Corp has a 52 week low of $20.20 and a 52 week high of $30.95.

SemGroup (NYSE:SEMG) last released its earnings results on Tuesday, May 8th. The pipeline company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.55). SemGroup had a positive return on equity of 2.17% and a negative net margin of 1.74%. The business had revenue of $661.61 million for the quarter, compared to analysts’ expectations of $570.99 million. During the same quarter in the prior year, the business posted ($0.16) EPS. The business’s revenue for the quarter was up 45.1% compared to the same quarter last year. research analysts anticipate that SemGroup Corp will post 0.04 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. ValuEngine raised SemGroup from a “strong sell” rating to a “sell” rating in a report on Saturday, June 2nd. Barclays reduced their price target on SemGroup from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 17th. Wells Fargo & Co cut SemGroup from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.95 to $20.20 in a research report on Sunday, June 10th. BMO Capital Markets initiated coverage on SemGroup in a research report on Tuesday, June 12th. They issued a “market perform” rating and a $25.00 price target for the company. Finally, Morgan Stanley reduced their price target on SemGroup from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, April 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. SemGroup presently has an average rating of “Hold” and a consensus target price of $26.82.

SemGroup Company Profile

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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Institutional Ownership by Quarter for SemGroup (NYSE:SEMG)

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