EverSource Wealth Advisors LLC Increases Stake in Sempra (NYSE:SRE)

EverSource Wealth Advisors LLC increased its position in shares of Sempra (NYSE:SRE) by 32.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,707 shares of the utilities provider’s stock after purchasing an additional 902 shares during the period. EverSource Wealth Advisors LLC’s holdings in Sempra were worth $297,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new position in shares of Sempra during the second quarter valued at approximately $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Sempra during the 2nd quarter worth approximately $33,000. Financial Connections Group Inc. bought a new stake in shares of Sempra during the 2nd quarter worth approximately $34,000. SouthState Corp boosted its holdings in 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 acquiring an additional 423 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in Sempra in the second quarter worth $39,000. 89.65% of the stock is currently owned by institutional investors.

Sempra Stock Performance

SRE stock opened at $83.02 on Wednesday. Sempra has a one year low of $63.75 and a one year high of $84.38. The firm has a market cap of $52.56 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.67 and a beta of 0.75. 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 firm has a 50-day simple moving average of $80.69 and a two-hundred day simple moving average of $76.14.

Sempra (NYSE:SRE) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm 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 company earned $0.94 EPS. The company’s revenue was down 9.7% on a year-over-year basis. On average, equities analysts forecast that Sempra will post 4.79 EPS for the current fiscal year.

Sempra Dividend Announcement

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 paid 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 2.99%. Sempra’s dividend payout ratio (DPR) is 54.93%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their target price on Sempra from $81.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. BMO Capital Markets boosted 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. Evercore ISI lifted their price target on shares of Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America assumed coverage on Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, LADENBURG THALM/SH SH decreased their target price on Sempra from $81.50 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, 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.