NewEdge Advisors LLC Raises Holdings in Sempra (NYSE:SRE)

NewEdge Advisors LLC raised its holdings in Sempra (NYSE:SRE) by 3.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,146 shares of the utilities provider’s stock after purchasing an additional 624 shares during the quarter. NewEdge Advisors LLC’s holdings in Sempra were worth $1,380,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Family Firm Inc. purchased a new stake in Sempra in the 2nd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Sempra in the 2nd quarter valued at approximately $33,000. Financial Connections Group Inc. acquired a new position in shares of Sempra in the 2nd quarter worth approximately $34,000. SouthState Corp lifted 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. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Sempra during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Analysts Set New Price Targets

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

Sempra Trading Up 0.1 %

Shares of NYSE:SRE opened at $82.60 on Friday. Sempra has a 52 week low of $64.29 and a 52 week high of $84.47. The company’s 50 day moving average is $81.48 and its two-hundred day moving average is $76.78. The company has a market cap of $52.05 billion, a PE ratio of 18.31, a P/E/G ratio of 2.64 and a beta of 0.75. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84.

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

Sempra Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 26th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 26th. Sempra’s payout ratio is 54.99%.

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.