Allspring Global Investments Holdings LLC Has $24.59 Million Position in Sempra (NYSE:SRE)

Allspring Global Investments Holdings LLC reduced its holdings in Sempra (NYSE:SRE) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,002 shares of the utilities provider’s stock after selling 13,342 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sempra were worth $24,587,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sunbelt Securities Inc. grew its position in shares of Sempra by 55.1% during the 1st quarter. Sunbelt Securities Inc. now owns 6,676 shares of the utilities provider’s stock worth $480,000 after buying an additional 2,372 shares during the period. Brookstone Capital Management increased its stake in Sempra by 7.8% in the first quarter. Brookstone Capital Management now owns 3,038 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 220 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sempra by 12.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,275 shares of the utilities provider’s stock worth $8,855,000 after purchasing an additional 13,986 shares during the period. Congress Park Capital LLC acquired a new position in shares of Sempra in the 1st quarter valued at $212,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Sempra in the 1st quarter valued at $264,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Price Performance

NYSE:SRE opened at $85.96 on Thursday. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $82.69 and a 200 day simple moving average of $77.97. Sempra has a 1-year low of $66.40 and a 1-year high of $86.13. The stock has a market capitalization of $54.17 billion, a PE ratio of 19.06, a P/E/G ratio of 2.73 and a beta of 0.75.

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

Sempra Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were paid a $0.62 dividend. The ex-dividend date was Thursday, September 26th. This represents a $2.48 annualized dividend and a yield of 2.89%. Sempra’s dividend payout ratio is 54.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SRE shares. Bank of America began coverage on Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 target price for the company. Morgan Stanley lifted their price target on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Barclays raised their price objective on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. BMO Capital Markets increased their target price on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Evercore ISI boosted their price target on Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Sempra 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.