U.S. Markets closed

SemGroup beats 4Q profit forecasts

TULSA, Okla. (AP) _ SemGroup Corp. (SEMG) on Thursday reported fourth-quarter profit of $12 million.

On a per-share basis, the Tulsa, Oklahoma-based company said it had profit of 18 cents.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The petroleum pipeline and storage company posted revenue of $402.2 million in the period.

For the year, the company reported profit of $2.1 million, or 4 cents per share. Revenue was reported as $1.33 billion.

SemGroup shares have fallen nearly 6 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.30, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEMG at https://www.zacks.com/ap/SEMG

_____

Keywords: SemGroup, Earnings Report