Sempra (NYSE:SRE) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE raised its stake in shares of Sempra (NYSE:SREGet Rating) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,909,761 shares of the utilities provider’s stock after purchasing an additional 252,241 shares during the quarter. Bank of America Corp DE’s holdings in Sempra were worth $657,309,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SRE. Acadian Asset Management LLC increased its stake in Sempra by 1,763.6% during the 4th quarter. Acadian Asset Management LLC now owns 205 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 194 shares in the last quarter. Herold Advisors Inc. acquired a new stake in shares of Sempra in the first quarter worth $34,000. Kings Point Capital Management increased its stake in shares of Sempra by 70.8% in the first quarter. Kings Point Capital Management now owns 205 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 85 shares during the period. Quent Capital LLC acquired a new stake in shares of Sempra in the fourth quarter worth $40,000. Finally, Riverview Trust Co acquired a new stake in shares of Sempra in the first quarter worth $41,000. Institutional investors and hedge funds own 85.37% of the company’s stock.

Sempra Stock Performance

SRE opened at $168.44 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.78 and a debt-to-equity ratio of 0.88. The company has a market cap of $52.94 billion, a price-to-earnings ratio of 47.18, a PEG ratio of 3.44 and a beta of 0.67. Sempra has a 52-week low of $119.56 and a 52-week high of $176.47. The firm’s fifty day simple moving average is $163.55 and its two-hundred day simple moving average is $160.55.

Sempra (NYSE:SREGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.23. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3 billion. Sempra had a net margin of 8.84% and a return on equity of 11.01%. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period last year, the firm posted $1.63 earnings per share. Equities analysts anticipate that Sempra will post 8.65 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 23rd will be paid a $1.145 dividend. This represents a $4.58 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, September 22nd. Sempra’s dividend payout ratio is currently 128.29%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SRE shares. The Goldman Sachs Group upgraded shares of Sempra from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $164.00 to $167.00 in a research note on Wednesday, July 6th. Bank of America upgraded shares of Sempra from a “neutral” rating to a “buy” rating in a research report on Thursday, July 14th. Wells Fargo & Company raised their price target on shares of Sempra from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley raised their price target on shares of Sempra from $160.00 to $169.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 23rd. Finally, Barclays dropped their price target on shares of Sempra from $186.00 to $176.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $172.11.

About Sempra

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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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Institutional Ownership by Quarter for Sempra (NYSE:SRE)

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