Point72 Asset Management L.P. Takes Position in SemGroup Corp (NYSE:SEMG)
Point72 Asset Management L.P. bought a new stake in SemGroup Corp (NYSE:SEMG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,266,433 shares of the pipeline company’s stock, valued at approximately $15,197,000.
Several other hedge funds also recently bought and sold shares of SEMG. Marshall Wace North America L.P. acquired a new stake in shares of SemGroup in the first quarter valued at about $32,000. Quantamental Technologies LLC grew its stake in SemGroup by 31.9% during the 2nd quarter. Quantamental Technologies LLC now owns 6,196 shares of the pipeline company’s stock valued at $74,000 after purchasing an additional 1,499 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in SemGroup during the 1st quarter valued at approximately $78,000. LPL Financial LLC acquired a new stake in SemGroup during the 2nd quarter valued at approximately $137,000. Finally, GSA Capital Partners LLP acquired a new stake in SemGroup during the 2nd quarter valued at approximately $145,000. Institutional investors and hedge funds own 87.95% of the company’s stock.
In other SemGroup news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of SemGroup stock in a transaction on Monday, September 16th. The stock was sold at an average price of $16.61, for a total transaction of $93,720,396.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.
SemGroup (NYSE:SEMG) last announced its earnings results on Thursday, August 8th. The pipeline company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.25). The business had revenue of $674.94 million for the quarter, compared to the consensus estimate of $579.04 million. SemGroup had a negative net margin of 0.94% and a positive return on equity of 1.13%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. Equities analysts forecast that SemGroup Corp will post -1.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.472 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.89 annualized dividend and a yield of 11.27%. This is an increase from SemGroup’s previous quarterly dividend of $0.42. SemGroup’s payout ratio is presently -994.74%.
Several research analysts have recently commented on the company. Barclays reiterated a “sell” rating and issued a $12.00 target price on shares of SemGroup in a research report on Thursday, July 18th. ValuEngine upgraded SemGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded SemGroup from a “strong sell” rating to a “hold” rating and set a $11.00 target price for the company in a research report on Wednesday, May 29th. Wells Fargo & Co lifted their target price on SemGroup from $10.00 to $17.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 17th. Finally, SunTrust Banks lifted their target price on SemGroup from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company. SemGroup has a consensus rating of “Hold” and a consensus target price of $16.50.
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.
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