Wealthspire Advisors LLC Has $342,000 Position in Sempra (NYSE:SRE)

Wealthspire Advisors LLC reduced its stake in shares of Sempra (NYSE:SRE) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,491 shares of the utilities provider’s stock after selling 241 shares during the period. Wealthspire Advisors LLC’s holdings in Sempra were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SRE. Family Firm Inc. acquired a new position in Sempra in the second quarter valued at $30,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Sempra in the 2nd quarter worth about $33,000. Financial Connections Group Inc. acquired a new position in shares of Sempra in the 2nd quarter valued at about $34,000. SouthState Corp boosted its position in shares of Sempra by 900.0% during the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 423 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Sempra during the 2nd quarter valued at about $39,000. 89.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on SRE shares. LADENBURG THALM/SH SH dropped their price target on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Evercore ISI boosted their target price on shares of Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America initiated coverage on shares of Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target for the company. BMO Capital Markets upped their price objective on shares of Sempra from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, Morgan Stanley raised their target price on Sempra from $77.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Sempra Price Performance

SRE stock opened at $83.60 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46. The business has a 50-day simple moving average of $79.86 and a two-hundred day simple moving average of $75.60. The company has a market capitalization of $52.93 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75. Sempra has a 52-week low of $63.75 and a 52-week high of $84.29.

Sempra (NYSE:SRE) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the previous year, the firm earned $0.94 EPS. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. Research analysts expect that Sempra will post 4.79 EPS for the current fiscal year.

Sempra Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.48 annualized dividend and a dividend yield of 2.97%. Sempra’s payout ratio is 54.93%.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.