Mutual Advisors LLC Decreases Stake in Sempra (NYSE:SRE)

Mutual Advisors LLC cut its holdings in Sempra (NYSE:SRE) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,412 shares of the utilities provider’s stock after selling 453 shares during the quarter. Mutual Advisors LLC’s holdings in Sempra were worth $1,836,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SRE. Eastern Bank purchased a new stake in Sempra during the third quarter worth $28,000. Family Firm Inc. purchased a new stake in Sempra during the second quarter worth $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in Sempra during the second quarter worth $33,000. Financial Connections Group Inc. purchased a new stake in Sempra during the second quarter worth $34,000. Finally, SouthState Corp boosted its position in Sempra by 900.0% during the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 423 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Sempra Stock Performance

Sempra stock opened at $83.38 on Friday. The firm has a market capitalization of $52.79 billion, a P/E ratio of 17.82, a PEG ratio of 2.69 and a beta of 0.75. The stock has a fifty day moving average price of $83.13 and a 200 day moving average price of $78.50. Sempra has a 52 week low of $66.40 and a 52 week high of $86.57. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84.

Sempra (NYSE:SRE) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 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 business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Sempra will post 4.78 earnings per share for the current year.

Sempra Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is presently 52.99%.

Analysts Set New Price Targets

A number of research firms have commented on SRE. Evercore ISI boosted their target price on Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets boosted their price target on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Bank of America began coverage on Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target for the company. Morgan Stanley boosted their price target on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

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.