SemGroup Energy Partners, L.P. (NYSE:SEMG) announced a quarterly dividend on Tuesday, February 27th, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.4725 per share by the pipeline company on Monday, March 19th. This represents a $1.89 annualized dividend and a dividend yield of 8.29%. The ex-dividend date of this dividend is Thursday, March 8th. This is a boost from SemGroup Energy Partners’s previous quarterly dividend of $0.45.
SemGroup Energy Partners has increased its dividend payment by an average of 20.5% per year over the last three years. SemGroup Energy Partners has a dividend payout ratio of -720.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect SemGroup Energy Partners to earn $1.08 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 166.7%.
Shares of SemGroup Energy Partners stock opened at $22.80 on Thursday. SemGroup Energy Partners has a 12-month low of $20.95 and a 12-month high of $36.65. The company has a current ratio of 1.18, a quick ratio of 1.05 and a debt-to-equity ratio of 1.72. The firm has a market cap of $1,715.07, a price-to-earnings ratio of -99.13, a P/E/G ratio of 8.97 and a beta of 1.98.
In other news, Director William J. Mcadam bought 10,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $22.73 per share, for a total transaction of $227,300.00. Following the purchase, the director now owns 4,077 shares of the company’s stock, valued at approximately $92,670.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.77% of the company’s stock.
SEMG has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of SemGroup Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 22nd. Barclays reduced their target price on shares of SemGroup Energy Partners from $32.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 29th. Wells Fargo upgraded shares of SemGroup Energy Partners from a “market perform” rating to an “outperform” rating in a report on Thursday, December 14th. US Capital Advisors downgraded shares of SemGroup Energy Partners from an “overweight” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Goldman Sachs downgraded shares of SemGroup Energy Partners from a “buy” rating to a “neutral” rating and set a $32.00 price target for the company. in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.63.
SemGroup Energy Partners 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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