Erste Asset Management GmbH Acquires Shares of 32,601 Sempra (NYSE:SRE)

Erste Asset Management GmbH acquired a new stake in Sempra (NYSE:SRE) in the third quarter, Holdings Channel.com reports. The firm acquired 32,601 shares of the utilities provider’s stock, valued at approximately $2,707,000.

Several other large investors have also made changes to their positions in the business. Perennial Investment Advisors LLC grew its stake in Sempra by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,963 shares of the utilities provider’s stock valued at $377,000 after acquiring an additional 134 shares during the period. Private Advisor Group LLC increased its stake in shares of Sempra by 1.6% during the third quarter. Private Advisor Group LLC now owns 8,742 shares of the utilities provider’s stock worth $731,000 after purchasing an additional 139 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Sempra by 4.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,794 shares of the utilities provider’s stock worth $289,000 after purchasing an additional 147 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in Sempra by 1.2% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 12,558 shares of the utilities provider’s stock valued at $955,000 after buying an additional 152 shares in the last quarter. Finally, Conning Inc. boosted its holdings in Sempra by 3.8% in the 2nd quarter. Conning Inc. now owns 4,184 shares of the utilities provider’s stock worth $318,000 after buying an additional 154 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Sempra Stock Performance

Sempra stock opened at $92.12 on Tuesday. The firm has a 50 day simple moving average of $86.75 and a 200-day simple moving average of $81.33. The stock has a market cap of $58.35 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.52 and a quick ratio of 0.47. Sempra has a 1-year low of $66.40 and a 1-year high of $95.77.

Sempra (NYSE:SRE) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.54 billion. Sempra had a return on equity of 8.06% and a net margin of 22.63%. The company’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, analysts expect that Sempra will post 4.77 EPS for the current year.

Sempra Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, December 5th. Sempra’s payout ratio is 54.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SRE. Wells Fargo & Company increased their target price on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets increased their target price on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their price target on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Insider Activity at Sempra

In related news, VP Trevor I. Mihalik sold 23,713 shares of Sempra stock in a transaction that occurred 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 sale, the vice president now owns 11,190 shares in the company, valued at approximately $1,041,677.10. This trade represents a 67.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is owned by insiders.

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.