Sempra (NYSE:SRE) Position Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of Sempra (NYSE:SREGet Rating) by 4.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 62,928 shares of the utilities provider’s stock after selling 2,830 shares during the period. State of Alaska Department of Revenue’s holdings in Sempra were worth $9,455,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in 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 buying an additional 217,594 shares in the last quarter. Capital International Investors increased its holdings in shares of Sempra by 7.3% in the 1st quarter. Capital International Investors now owns 20,520,596 shares of the utilities provider’s stock valued at $3,449,811,000 after purchasing an additional 1,397,703 shares during the period. State Street Corp increased its holdings in shares of Sempra by 4.4% in the 1st quarter. State Street Corp now owns 18,494,550 shares of the utilities provider’s stock valued at $3,130,114,000 after purchasing an additional 771,489 shares during the period. Wellington Management Group LLP increased its holdings in shares of Sempra by 1.6% in the 1st quarter. Wellington Management Group LLP now owns 12,852,271 shares of the utilities provider’s stock valued at $2,160,724,000 after purchasing an additional 201,639 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Sempra by 7.0% in the 4th quarter. Deutsche Bank AG now owns 7,124,202 shares of the utilities provider’s stock valued at $942,388,000 after purchasing an additional 466,141 shares during the period. 85.37% of the stock is owned by hedge funds and other institutional investors.

Sempra Trading Down 1.4 %

Shares of SRE stock opened at $168.44 on Monday. Sempra has a 12 month low of $119.56 and a 12 month high of $176.47. 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 business’s 50 day moving average is $163.55 and its two-hundred day moving average is $160.63. The company has a market cap of $52.94 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 3.39 and a beta of 0.67.

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

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 23rd will be issued 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 yield of 2.72%. Sempra’s dividend payout ratio (DPR) is presently 128.29%.

Wall Street Analyst Weigh In

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

Further Reading

Want to see what other hedge funds are holding SRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sempra (NYSE:SREGet Rating).

Institutional Ownership by Quarter for Sempra (NYSE:SRE)

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