Parallel Advisors LLC Raises Stock Holdings in Sempra (NYSE:SRE)

Parallel Advisors LLC raised its position in shares of Sempra (NYSE:SRE) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,638 shares of the utilities provider’s stock after buying an additional 1,573 shares during the quarter. Parallel Advisors LLC’s holdings in Sempra were worth $809,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Crestline Management LP lifted its position in Sempra by 14.0% during the 4th quarter. Crestline Management LP now owns 119,174 shares of the utilities provider’s stock valued at $8,906,000 after acquiring an additional 14,674 shares during the period. GSA Capital Partners LLP bought a new position in shares of Sempra during the first quarter valued at approximately $815,000. D.A. Davidson & CO. boosted its position in shares of Sempra by 14.4% in the 4th quarter. D.A. Davidson & CO. now owns 41,202 shares of the utilities provider’s stock worth $3,079,000 after purchasing an additional 5,197 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Sempra in the 1st quarter worth approximately $2,293,000. Finally, Forsta AP Fonden grew its stake in shares of Sempra by 13.7% in the 1st quarter. Forsta AP Fonden now owns 117,200 shares of the utilities provider’s stock worth $8,418,000 after buying an additional 14,100 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

Sempra Price Performance

Shares of SRE opened at $83.60 on Tuesday. The firm has a market cap of $52.93 billion, a PE ratio of 18.52, a P/E/G ratio of 2.84 and a beta of 0.75. Sempra has a 1-year low of $63.75 and a 1-year high of $84.29. 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 $79.86 and a two-hundred day simple moving average of $75.60.

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 during the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm’s revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. On average, equities analysts anticipate that Sempra will post 4.79 EPS for the current year.

Sempra Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 26th will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.48 annualized dividend and a yield of 2.97%. Sempra’s dividend payout ratio (DPR) is 54.93%.

Wall Street Analyst Weigh In

SRE has been the topic of several analyst reports. LADENBURG THALM/SH SH dropped their target price on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. BMO Capital Markets increased their price objective on shares of Sempra from $90.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. 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 target price for the company. 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 report on Friday, August 23rd. Finally, Barclays boosted their price objective on shares of Sempra from $81.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.