FORVIS Wealth Advisors LLC Grows Stock Position in Sempra (NYSE:SRE)

FORVIS Wealth Advisors LLC grew its position in shares of Sempra (NYSE:SRE) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 10,185 shares of the utilities provider’s stock after purchasing an additional 172 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Sempra were worth $732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SRE. Federated Hermes Inc. increased its stake in shares of Sempra by 26.1% in the third quarter. Federated Hermes Inc. now owns 1,890 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 391 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Sempra during the 3rd quarter valued at $494,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Sempra by 24.6% during the third quarter. Schonfeld Strategic Advisors LLC now owns 30,267 shares of the utilities provider’s stock worth $2,059,000 after acquiring an additional 5,967 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of Sempra by 85.6% in the third quarter. Glenmede Trust Co. NA now owns 42,241 shares of the utilities provider’s stock worth $2,874,000 after acquiring an additional 19,478 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Sempra by 57.4% in the third quarter. Ameriprise Financial Inc. now owns 662,150 shares of the utilities provider’s stock valued at $45,101,000 after purchasing an additional 241,546 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Insider Activity

In related news, CAO Peter R. Wall sold 6,100 shares of Sempra stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total value of $457,927.00. Following the transaction, the chief accounting officer now directly owns 14,751 shares of the company’s stock, valued at $1,107,357.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sempra news, Director Richard J. Mark acquired 1,925 shares of the company’s stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $77.97 per share, for a total transaction of $150,092.25. Following the acquisition, the director now owns 5,420 shares in the company, valued at approximately $422,597.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter R. Wall sold 6,100 shares of Sempra stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.07, for a total value of $457,927.00. Following the completion of the sale, the chief accounting officer now owns 14,751 shares in the company, valued at $1,107,357.57. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SRE shares. Morgan Stanley dropped their price objective on Sempra from $79.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. LADENBURG THALM/SH SH reduced their price objective on shares of Sempra from $81.50 to $79.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Barclays increased their target price on shares of Sempra from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Sempra in a research report on Wednesday, March 6th. Finally, Mizuho upped their target price on Sempra from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.10.

Sempra Stock Performance

NYSE:SRE remained flat at $75.17 during trading hours on Thursday. 1,261,368 shares of the company were exchanged, compared to its average volume of 2,766,711. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.62 and a quick ratio of 0.57. The company has a market capitalization of $47.37 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74. The firm’s 50-day moving average price is $75.43 and its 200-day moving average price is $73.00. Sempra has a one year low of $63.75 and a one year high of $78.83.

Sempra (NYSE:SRE) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Sempra had a net margin of 20.99% and a return on equity of 8.95%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the business posted $1.46 earnings per share. The firm’s quarterly revenue was down 44.5% compared to the same quarter last year. Equities analysts anticipate that Sempra will post 4.8 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Thursday, June 27th will be given a $0.62 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.48 annualized dividend and a yield of 3.30%. Sempra’s payout ratio is currently 54.93%.

Sempra 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.