Sempra (NYSE:SRE) Stock Position Lowered by AIA Group Ltd

AIA Group Ltd lowered its position in shares of Sempra (NYSE:SRE) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,698 shares of the utilities provider’s stock after selling 4,852 shares during the quarter. AIA Group Ltd’s holdings in Sempra were worth $3,654,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Eastern Bank acquired a new stake in Sempra during the third quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Sempra in the second quarter valued at $30,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Sempra during the 2nd quarter valued at $33,000. Financial Connections Group Inc. bought a new stake in shares of Sempra during the 2nd quarter worth $34,000. Finally, SouthState Corp grew its holdings in shares of Sempra by 900.0% in the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 423 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI upped their price target on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on Sempra in a research report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Sempra currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Sempra Trading Up 1.7 %

SRE stock opened at $89.76 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84. Sempra has a twelve month low of $66.40 and a twelve month high of $90.16. The company has a market cap of $56.83 billion, a P/E ratio of 19.18, a PEG ratio of 2.58 and a beta of 0.75. The business has a fifty day moving average of $83.26 and a 200-day moving average of $79.00.

Sempra (NYSE:SRE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.17). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. Sempra’s revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. As a group, equities research analysts expect that Sempra will post 4.77 EPS for the current year.

Sempra Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.76%. Sempra’s payout ratio is currently 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.