SemGroup Energy (SGLP) Gets Cut In Half
More News related to SGLP
- Duke R. Ligon and Dave Miller Appointed to Board of SGLP's General Partner
- Roy Jacobs & Associates Announces September 19, 2008 Deadline for Purchasers of SemGroup Energy Partners, L.P. Units -- SGLP
- Federman & Sherwood Reminds Investors of Imminent Deadline in Securities Class Action Lawsuit Against SemGroup Energy Partners, L.P. -- SGLP
- Federman & Sherwood Reminds Investors of Imminent Deadline in Securities Class Action Lawsuit Against SemGroup Energy Partners, L.P. -- SGLP
- Law Offices of Howard G. Smith Announces Update to the Shareholder Lawsuit Against SemGroup Energy Partners, L.P.
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Today, Wachovia Downgraded SemGroup Energy Partners (Nasdaq: SGLP) from Outperform to Underperform. Wachovia's downgrade followed the announcement that occurred late last night by the partnership that its GP sponsor SemGroup L.P. is undergoing liquidity issues and could possibly seek out bankruptcy protection.
SemGroup L.P. accounts for approximately 85-90% of the partnership’s revenue. Wachovia said the risk versus reward seems unfavorable at this time, and even after the stock was down 51.8% yesterday a potential bankruptcy announcement by SemGroup LP could further pressure SemGroup Energy's stock. The partnership would not comment on the potential effect on its business or any actions by its sponsor.
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