First Manhattan Co. cut its stake in shares of Sempra (NYSE:SRE – Get Rating) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,049 shares of the utilities provider’s stock after selling 925 shares during the quarter. First Manhattan Co.’s holdings in Sempra were worth $11,944,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Sempra by 0.7% during the first quarter. BlackRock Inc. now owns 29,741,620 shares of the utilities provider’s stock valued at $5,000,160,000 after acquiring an additional 217,594 shares during the period. State Street Corp increased its stake in shares of Sempra by 4.4% in the first quarter. State Street Corp now owns 18,494,550 shares of the utilities provider’s stock valued at $3,130,114,000 after buying an additional 771,489 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Sempra by 1.6% in the first quarter. Wellington Management Group LLP now owns 12,852,271 shares of the utilities provider’s stock valued at $2,160,724,000 after buying an additional 201,639 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Sempra by 7.0% in the fourth quarter. Deutsche Bank AG now owns 7,124,202 shares of the utilities provider’s stock valued at $942,388,000 after buying an additional 466,141 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sempra in the fourth quarter valued at $788,094,000. 85.37% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Sempra from a “neutral” rating to a “buy” rating and raised their target price for the company from $164.00 to $167.00 in a research note on Wednesday, July 6th. Barclays lowered their target price on Sempra from $186.00 to $176.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Morgan Stanley raised their target price on Sempra from $160.00 to $169.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 23rd. Finally, Bank of America upgraded Sempra from a “neutral” rating to a “buy” rating in a research report on Thursday, July 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.22.
Sempra Price Performance
Sempra (NYSE:SRE – Get Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.23. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3 billion. Sempra had a return on equity of 11.01% and a net margin of 8.84%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 EPS. On average, equities analysts anticipate that Sempra will post 8.65 EPS for the current year.
Sempra Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 23rd will be given a dividend of $1.145 per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $4.58 annualized dividend and a dividend yield of 2.61%. Sempra’s payout ratio is currently 128.29%.
Sempra Company Profile
Sempra operates as an energy-services holding company in the United States and internationally. The company's San Diego Gas & Electric Company segment provides electric services; and supplies natural gas. It offers electric services to approximately 3.6 million population and natural gas services to approximately 3.3 million population that covers 4,100 square miles.
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