Clear Street Markets LLC Acquires New Shares in SemGroup Corp (NYSE:SEMG)

Clear Street Markets LLC purchased a new stake in SemGroup Corp (NYSE:SEMG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,600 shares of the pipeline company’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SEMG. Point72 Asset Management L.P. bought a new position in SemGroup in the 2nd quarter valued at $15,197,000. Zimmer Partners LP bought a new position in SemGroup in the 2nd quarter valued at $7,256,000. Vanguard Group Inc. boosted its holdings in SemGroup by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 7,902,048 shares of the pipeline company’s stock valued at $94,825,000 after purchasing an additional 475,190 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of SemGroup during the 3rd quarter worth $5,977,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of SemGroup during the 2nd quarter worth $4,112,000. 79.75% of the stock is currently owned by institutional investors and hedge funds.

SEMG has been the subject of several recent research reports. Citigroup downgraded shares of SemGroup from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $15.00 to $17.00 in a research note on Monday, September 16th. SunTrust Banks lowered their price target on shares of SemGroup from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, October 15th. Royal Bank of Canada downgraded shares of SemGroup from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $19.00 to $11.00 in a research note on Friday, August 23rd. UBS Group boosted their price objective on shares of SemGroup from $10.25 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Co boosted their price target on shares of SemGroup from $10.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $17.11.

Shares of NYSE SEMG traded up $0.05 during midday trading on Friday, hitting $16.07. The stock had a trading volume of 1,779,377 shares, compared to its average volume of 1,464,638. The company has a market cap of $1.31 billion, a P/E ratio of -84.58 and a beta of 1.60. The business’s 50 day moving average is $16.23 and its 200-day moving average is $12.90. SemGroup Corp has a 52 week low of $8.10 and a 52 week high of $18.86. The company has a quick ratio of 1.36, a current ratio of 1.45 and a debt-to-equity ratio of 1.19.

SemGroup (NYSE:SEMG) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.03). The company had revenue of $562.00 million for the quarter, compared to the consensus estimate of $651.81 million. SemGroup had a negative net margin of 0.94% and a positive return on equity of 1.13%. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. As a group, analysts expect that SemGroup Corp will post -0.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.4725 per share. This is a boost from SemGroup’s previous quarterly dividend of $0.42. This represents a $1.89 dividend on an annualized basis and a yield of 11.76%. The ex-dividend date of this dividend is Wednesday, November 13th. SemGroup’s dividend payout ratio is currently -994.74%.

In other news, major shareholder Investor I. L.P. Buffalo sold 5,642,408 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $16.61, for a total value of $93,720,396.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

SemGroup Profile

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: Do investors pay a separate front-end load every time they buy additional shares?

Institutional Ownership by Quarter for SemGroup (NYSE:SEMG)

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