State of Tennessee Treasury Department Raises Stock Position in Sempra (NYSE:SRE)

State of Tennessee Treasury Department raised its stake in shares of Sempra (NYSE:SREFree Report) by 29.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 305,144 shares of the utilities provider’s stock after purchasing an additional 70,298 shares during the quarter. State of Tennessee Treasury Department’s holdings in Sempra were worth $22,803,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Crestline Management LP grew its position in shares of Sempra by 14.0% in the 4th quarter. Crestline Management LP now owns 119,174 shares of the utilities provider’s stock worth $8,906,000 after buying an additional 14,674 shares during the period. Ausbil Investment Management Ltd grew its position in shares of Sempra by 13.5% in the 4th quarter. Ausbil Investment Management Ltd now owns 172,129 shares of the utilities provider’s stock worth $12,863,000 after buying an additional 20,469 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Sempra by 932.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 43,848 shares of the utilities provider’s stock worth $3,277,000 after buying an additional 39,600 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in Sempra during the 4th quarter valued at about $9,715,000. Finally, D.A. Davidson & CO. grew its position in Sempra by 14.4% during the 4th quarter. D.A. Davidson & CO. now owns 41,202 shares of the utilities provider’s stock valued at $3,079,000 after purchasing an additional 5,197 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard J. Mark purchased 1,925 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $77.97 per share, for a total transaction of $150,092.25. Following the completion of the transaction, the director now directly owns 5,420 shares in the company, valued at $422,597.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SRE. StockNews.com downgraded shares of Sempra from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. LADENBURG THALM/SH SH lowered their price objective on shares of Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $82.00 price objective on shares of Sempra in a research note on Wednesday, March 6th. Mizuho increased their price objective on shares of Sempra from $79.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Wells Fargo & Company increased their price objective on shares of Sempra from $79.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

View Our Latest Stock Report on Sempra

Sempra Trading Down 0.3 %

Shares of SRE opened at $75.08 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.62 and a quick ratio of 0.57. Sempra has a 1 year low of $63.75 and a 1 year high of $78.83. The company has a 50 day simple moving average of $73.54 and a two-hundred day simple moving average of $72.76. The firm has a market cap of $47.31 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74.

Sempra (NYSE:SREGet Free Report) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share 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 business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $5.58 billion. During the same period last year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was down 44.5% compared to the same quarter last year. On average, equities analysts expect that Sempra will post 4.8 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, June 27th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, June 27th. Sempra’s dividend payout ratio (DPR) is presently 54.93%.

Sempra Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sempra (NYSE:SRE)

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