Icon Wealth Advisors LLC Has $2.62 Million Stock Position in Sempra (NYSE:SRE)

Icon Wealth Advisors LLC grew its position in Sempra (NYSE:SRE) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,276 shares of the utilities provider’s stock after buying an additional 3,029 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Sempra were worth $2,616,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Eastern Bank bought a new position in shares of Sempra in the third quarter valued at approximately $28,000. Hollencrest Capital Management increased its holdings in Sempra by 250.0% in the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock valued at $32,000 after buying an additional 270 shares during the period. Family Firm Inc. bought a new stake in shares of Sempra in the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Sempra in the 2nd quarter worth about $33,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Sempra in the 2nd quarter worth about $34,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sempra

In related news, VP Trevor I. Mihalik sold 23,713 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total value of $2,207,443.17. Following the completion of the transaction, the vice president now directly owns 11,190 shares of the company’s stock, valued at approximately $1,041,677.10. This trade represents a 67.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Sempra Stock Performance

Shares of SRE stock opened at $94.28 on Friday. The company has a market capitalization of $59.72 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.75. Sempra has a 52 week low of $66.40 and a 52 week high of $95.77. The company’s 50 day moving average price is $86.53 and its two-hundred day moving average price is $81.16. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.47 and a current ratio of 0.52.

Sempra (NYSE:SRE) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.16). The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a return on equity of 8.06% and a net margin of 22.63%. Sempra’s revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. On average, analysts expect that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.48 annualized dividend and a dividend yield of 2.63%. Sempra’s dividend payout ratio is currently 54.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SRE shares. Wells Fargo & Company upped their target price on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Bank of America started coverage on shares of Sempra in a report on Thursday, September 12th. They set a “buy” rating and a $94.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Sempra in a report on Thursday, October 24th. They set a “buy” rating and a $98.00 price objective on the stock. Evercore ISI increased their price objective on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, BMO Capital Markets increased their price objective on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.00.

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.