Prossimo Advisors LLC Acquires 805 Shares of Sempra (NYSE:SRE)

Prossimo Advisors LLC lifted its holdings in shares of Sempra (NYSE:SRE) by 14.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,240 shares of the utilities provider’s stock after acquiring an additional 805 shares during the quarter. Prossimo Advisors LLC’s holdings in Sempra were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SRE. Eastern Bank bought a new position in Sempra during the third quarter worth $28,000. Family Firm Inc. acquired a new position in Sempra in the 2nd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC bought a new position in Sempra in the 2nd quarter valued at about $33,000. Financial Connections Group Inc. acquired a new stake in Sempra during the second quarter worth approximately $34,000. Finally, SouthState Corp boosted its holdings in shares of Sempra by 900.0% during the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 423 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.

Sempra Trading Down 2.1 %

Shares of SRE stock opened at $81.65 on Friday. Sempra has a fifty-two week low of $66.40 and a fifty-two week high of $86.57. The stock’s fifty day moving average price is $83.14 and its two-hundred day moving average price is $78.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46. The company has a market cap of $51.70 billion, a PE ratio of 17.45, a P/E/G ratio of 2.66 and a beta of 0.75.

Sempra (NYSE:SRE) last released 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). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The business’s revenue was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. Equities analysts predict that Sempra will post 4.77 EPS for the current fiscal year.

Sempra Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.04%. Sempra’s payout ratio is presently 52.99%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays lifted their price target on Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley boosted their target price on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Evercore ISI raised their price target on shares of Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. BMO Capital Markets boosted their price objective on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of Sempra in a report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sempra has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

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.