Verition Fund Management LLC Trims Stock Position in Sempra (NYSE:SRE)

Verition Fund Management LLC lessened its position in shares of Sempra (NYSE:SRE) by 69.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 372,094 shares of the utilities provider’s stock after selling 828,678 shares during the period. Verition Fund Management LLC owned approximately 0.06% of Sempra worth $31,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Sempra by 9.1% in the third quarter. FMR LLC now owns 18,978,605 shares of the utilities provider’s stock worth $1,587,181,000 after purchasing an additional 1,582,653 shares during the period. Clearbridge Investments LLC grew its position in Sempra by 6.9% during the second quarter. Clearbridge Investments LLC now owns 13,452,912 shares of the utilities provider’s stock worth $1,023,228,000 after buying an additional 874,133 shares in the last quarter. Bank of Montreal Can increased its stake in Sempra by 38.3% in the 3rd quarter. Bank of Montreal Can now owns 1,420,045 shares of the utilities provider’s stock worth $118,219,000 after acquiring an additional 393,277 shares during the last quarter. Swedbank AB purchased a new stake in shares of Sempra in the 1st quarter valued at about $27,338,000. Finally, Citigroup Inc. boosted its position in shares of Sempra by 27.3% during the 3rd quarter. Citigroup Inc. now owns 1,622,786 shares of the utilities provider’s stock valued at $135,714,000 after acquiring an additional 347,625 shares during the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sempra

In other Sempra news, VP Trevor I. Mihalik sold 23,713 shares of the company’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 in the company, valued at approximately $1,041,677.10. This represents a 67.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Sempra Stock Performance

NYSE:SRE opened at $94.28 on Friday. 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 has a fifty-two week low of $66.40 and a fifty-two week high of $95.77. The firm has a market cap of $59.72 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.75. The business has a 50 day moving average price of $86.53 and a 200-day moving average price of $81.16.

Sempra (NYSE:SRE) last announced 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). Sempra had a net margin of 22.63% and a return on equity of 8.06%. The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company earned $1.08 EPS. The company’s quarterly revenue was down 16.7% on a year-over-year basis. Equities research analysts predict that Sempra will post 4.77 earnings per share for the current year.

Sempra Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SRE. Jefferies Financial Group initiated coverage on shares of Sempra in a research report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price for the company. 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 report on Monday, October 21st. Morgan Stanley increased their target price on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Barclays upped their price objective on Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price objective on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Sempra has an average rating of “Moderate Buy” and a consensus 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.