Park Avenue Securities LLC Increases Stake in Sempra (NYSE:SRE)

Park Avenue Securities LLC boosted its stake in Sempra (NYSE:SRE) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,016 shares of the utilities provider’s stock after purchasing an additional 466 shares during the quarter. Park Avenue Securities LLC’s holdings in Sempra were worth $1,507,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Family Firm Inc. purchased a new position in shares of Sempra in the 2nd quarter worth $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Sempra during the 2nd quarter worth about $33,000. Financial Connections Group Inc. acquired a new stake in Sempra during the 2nd quarter worth approximately $34,000. SouthState Corp raised its holdings in Sempra by 900.0% in the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock valued at $36,000 after buying an additional 423 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Sempra during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Sempra Stock Performance

Shares of SRE opened at $81.51 on Tuesday. The company’s 50 day moving average price is $81.48 and its 200 day moving average price is $76.83. The company has a market capitalization of $51.61 billion, a PE ratio of 18.05, a PEG ratio of 2.65 and a beta of 0.75. Sempra has a 52 week low of $66.40 and a 52 week high of $84.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46.

Sempra (NYSE:SRE) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. Research analysts expect that Sempra will post 4.79 EPS for the current fiscal year.

Sempra Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Thursday, September 26th. Sempra’s dividend payout ratio is 54.93%.

Analysts Set New Price Targets

Several analysts recently issued reports on SRE shares. Morgan Stanley increased their price target on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Barclays raised their target price on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Sempra from $90.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Bank of America initiated coverage on shares of Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 target price on the stock. Finally, Evercore ISI upped their price objective on shares of Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

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.