Shapiro Capital Management LLC Increases Holdings in SemGroup Corp (SEMG)
Shapiro Capital Management LLC boosted its stake in SemGroup Corp (NYSE:SEMG) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,293,858 shares of the pipeline company’s stock after acquiring an additional 2,300 shares during the period. Shapiro Capital Management LLC owned 2.90% of SemGroup worth $31,609,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in SEMG. Bank of New York Mellon Corp increased its stake in shares of SemGroup by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 1,238,694 shares of the pipeline company’s stock worth $31,463,000 after purchasing an additional 20,052 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of SemGroup in the third quarter worth about $212,000. JPMorgan Chase & Co. increased its stake in shares of SemGroup by 1.4% in the third quarter. JPMorgan Chase & Co. now owns 224,040 shares of the pipeline company’s stock worth $4,940,000 after purchasing an additional 3,103 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of SemGroup by 24.3% in the third quarter. Kayne Anderson Capital Advisors LP now owns 2,843,619 shares of the pipeline company’s stock worth $62,689,000 after purchasing an additional 555,991 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of SemGroup by 0.7% in the third quarter. Jennison Associates LLC now owns 1,725,963 shares of the pipeline company’s stock worth $38,057,000 after purchasing an additional 11,829 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on SEMG shares. ValuEngine upgraded shares of SemGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Zacks Investment Research downgraded shares of SemGroup from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. SunTrust Banks downgraded shares of SemGroup from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Monday, January 14th. Goldman Sachs Group upgraded shares of SemGroup from a “sell” rating to a “neutral” rating in a research note on Wednesday, January 2nd. Finally, Morgan Stanley reduced their target price on shares of SemGroup from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $21.94.
SemGroup (NYSE:SEMG) last issued its quarterly earnings data on Wednesday, February 27th. The pipeline company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.10). The firm had revenue of $611.86 million for the quarter, compared to analysts’ expectations of $623.89 million. SemGroup had a negative net margin of 1.07% and a positive return on equity of 0.58%. SemGroup’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. As a group, equities research analysts anticipate that SemGroup Corp will post 0.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, March 4th were paid a dividend of $0.4725 per share. The ex-dividend date was Friday, March 1st. This represents a $1.89 annualized dividend and a yield of 13.04%. SemGroup’s dividend payout ratio is currently -994.74%.
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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 operate a residual fuel oil storage terminal in the U.S.
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