Sempra (NYSE:SRE) Position Increased by Spirit of America Management Corp NY

Spirit of America Management Corp NY lifted its holdings in Sempra (NYSE:SRE) by 12.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,050 shares of the utilities provider’s stock after buying an additional 1,300 shares during the quarter. Spirit of America Management Corp NY’s holdings in Sempra were worth $1,008,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dakota Wealth Management grew its holdings in shares of Sempra by 152.0% during the third quarter. Dakota Wealth Management now owns 50,030 shares of the utilities provider’s stock valued at $4,185,000 after purchasing an additional 30,178 shares during the last quarter. Values First Advisors Inc. bought a new position in Sempra during the 3rd quarter worth $81,000. Assenagon Asset Management S.A. lifted its stake in Sempra by 17.8% in the third quarter. Assenagon Asset Management S.A. now owns 17,804 shares of the utilities provider’s stock valued at $1,489,000 after buying an additional 2,693 shares during the last quarter. Pinnacle West Asset Management Inc. acquired a new position in Sempra during the 3rd quarter valued at about $206,000. Finally, Ausbil Investment Management Ltd bought a new position in Sempra in the 3rd quarter worth about $9,790,000. 89.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SRE has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on Sempra in a research note on Thursday. They issued a “buy” rating and a $98.00 price target for the company. Barclays raised their price target on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Bank of America assumed coverage on shares of Sempra in a research report on Thursday, September 12th. They issued a “buy” rating and a $94.00 target price for the company. Finally, BMO Capital Markets boosted their price target on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday. One 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. Based on data from MarketBeat.com, Sempra has an average rating of “Moderate Buy” and an average target price of $87.55.

Sempra Trading Down 0.2 %

Shares of SRE opened at $85.77 on Friday. The business’s 50-day moving average price is $82.69 and its 200 day moving average price is $77.97. 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 stock has a market capitalization of $54.31 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.70 and a beta of 0.75. Sempra has a 1-year low of $66.40 and a 1-year high of $86.57.

Sempra (NYSE:SRE) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (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 analyst estimates of $3.46 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s revenue was down 9.7% compared to the same quarter last year. Analysts expect that Sempra will post 4.79 earnings per share for the current year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is presently 52.99%.

About Sempra

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.