Wedmont Private Capital raised its position in Sempra (NYSE:SRE – Get Rating) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,569 shares of the utilities provider’s stock after acquiring an additional 175 shares during the quarter. Wedmont Private Capital’s holdings in Sempra were worth $236,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sempra during the 4th quarter valued at approximately $788,094,000. BlackRock Inc. boosted its stake in shares of Sempra by 9.8% during the 4th quarter. BlackRock Inc. now owns 29,524,026 shares of the utilities provider’s stock valued at $3,905,435,000 after buying an additional 2,631,949 shares during the last quarter. Capital International Investors boosted its stake in shares of Sempra by 7.3% during 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 buying an additional 1,397,703 shares during the last quarter. ClearBridge Investments Ltd purchased a new position in shares of Sempra during the 1st quarter valued at approximately $130,223,000. Finally, State Street Corp boosted its stake in shares of Sempra by 4.4% during 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 buying an additional 771,489 shares during the last quarter. Institutional investors and hedge funds own 85.37% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SRE. The Goldman Sachs Group upgraded Sempra from a “neutral” rating to a “buy” rating and increased their target price for the company from $164.00 to $167.00 in a research note on Wednesday, July 6th. Morgan Stanley raised their price objective on Sempra from $160.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 23rd. Wells Fargo & Company raised their price objective on Sempra from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Thursday, September 15th. Bank of America upgraded Sempra from a “neutral” rating to a “buy” rating in a research note on Thursday, July 14th. Finally, Barclays reduced their price objective on Sempra from $186.00 to $176.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Sempra currently has a consensus rating of “Moderate Buy” and an average target price of $172.11.
Sempra Stock 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, beating analysts’ consensus estimates of $1.75 by $0.23. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3 billion. Sempra had a return on equity of 11.01% and a net margin of 8.84%. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the business posted $1.63 earnings per share. On average, research analysts predict that Sempra will post 8.65 EPS for the current year.
Sempra Announces Dividend
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 issued a dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, September 22nd. Sempra’s dividend payout ratio (DPR) is 128.29%.
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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