Sempra (NYSE:SRE) Stake Boosted by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Sempra (NYSE:SRE) by 8.5% during the third quarter, HoldingsChannel reports. The firm owned 751,531 shares of the utilities provider’s stock after acquiring an additional 59,135 shares during the period. Sempra accounts for approximately 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 12th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Sempra were worth $62,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SRE. Family Firm Inc. purchased a new position in Sempra in the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC purchased a new position in Sempra in the 2nd quarter worth about $33,000. Financial Connections Group Inc. purchased a new position in Sempra in the 2nd quarter worth about $34,000. SouthState Corp increased its stake in Sempra by 900.0% in the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 423 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Sempra in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Stock Up 1.0 %

Shares of Sempra stock opened at $82.16 on Monday. The firm has a market cap of $51.77 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.59 and a beta of 0.75. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.46 and a quick ratio of 0.41. Sempra has a 52-week low of $66.40 and a 52-week high of $84.47. The stock has a 50-day simple moving average of $81.59 and a 200-day simple moving average of $77.24.

Sempra (NYSE:SRE) last announced 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). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, equities research analysts expect that Sempra will post 4.79 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 26th will be issued a $0.62 dividend. The ex-dividend date is Thursday, September 26th. This represents a $2.48 annualized dividend and a yield of 3.02%. Sempra’s dividend payout ratio (DPR) is currently 54.99%.

Analyst Ratings Changes

A number of equities research analysts have commented on SRE shares. Bank of America started coverage on Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price objective for the company. Evercore ISI raised their price objective on Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley raised their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays raised their price objective on Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, BMO Capital Markets raised their price objective on Sempra from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Sempra presently has an average rating of “Moderate Buy” and a consensus target price of $86.20.

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.