Sempra (NYSE:SRE) Holdings Lifted by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its position in shares of Sempra (NYSE:SRE) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,324 shares of the utilities provider’s stock after acquiring an additional 451 shares during the period. Sierra Summit Advisors LLC’s holdings in Sempra were worth $329,000 at the end of the most recent quarter.

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

Sempra Price Performance

NYSE SRE opened at $83.60 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84. Sempra has a 12-month low of $63.75 and a 12-month high of $84.29. The company has a 50 day moving average price of $79.86 and a two-hundred day moving average price of $75.60. The stock has a market capitalization of $52.93 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75.

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

Sempra Dividend Announcement

The company 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 $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 26th. Sempra’s dividend payout ratio is 54.93%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price 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. Bank of America began coverage on shares of Sempra in a research note on Thursday, September 12th. They set a “buy” rating and a $94.00 target price on the stock. LADENBURG THALM/SH SH decreased their target price on Sempra from $81.50 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Morgan Stanley lifted their price target on Sempra from $77.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Barclays increased their price objective on Sempra from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

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.