Trinity Legacy Partners LLC Sells 372 Shares of Sempra (NYSE:SRE)

Trinity Legacy Partners LLC reduced its position in Sempra (NYSE:SRE) by 0.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,095 shares of the utilities provider’s stock after selling 372 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Sempra were worth $3,506,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SRE. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sempra in the 2nd quarter valued at $199,000. Fred Alger Management LLC boosted its position in Sempra by 4.2% during the second quarter. Fred Alger Management LLC now owns 45,025 shares of the utilities provider’s stock valued at $3,425,000 after buying an additional 1,808 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Sempra during the second quarter valued at about $23,056,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Sempra by 168.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 416,088 shares of the utilities provider’s stock valued at $31,648,000 after buying an additional 260,951 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of Sempra in the second quarter worth about $2,948,000. 89.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SRE shares. Barclays increased their target price on Sempra from $81.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Evercore ISI raised their target price on shares of Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets lifted their target price on shares of Sempra from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Morgan Stanley increased their price target on shares of Sempra from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Finally, Bank of America began coverage on shares of Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Sempra presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Sempra Price Performance

Shares of NYSE SRE opened at $83.02 on Wednesday. Sempra has a 1 year low of $63.75 and a 1 year high of $84.38. The stock has a market capitalization of $52.56 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.67 and a beta of 0.75. The company’s 50-day moving average is $80.69 and its 200 day moving average is $76.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.46 and a quick ratio of 0.41.

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

Sempra Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.48 dividend on an annualized basis and a yield of 2.99%. Sempra’s dividend payout ratio (DPR) 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.