Gabelli Funds LLC boosted its holdings in Sempra (NYSE:SRE – Free Report) by 100.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,300 shares of the utilities provider’s stock after acquiring an additional 44,650 shares during the quarter. Gabelli Funds LLC’s holdings in Sempra were worth $6,075,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SRE. PrairieView Partners LLC raised its position in shares of Sempra by 100.0% during the third quarter. PrairieView Partners LLC now owns 376 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 188 shares during the period. Optimum Investment Advisors raised its position in shares of Sempra by 100.0% during the third quarter. Optimum Investment Advisors now owns 380 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 190 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Sempra by 119.9% during the third quarter. Geneos Wealth Management Inc. now owns 398 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 217 shares during the period. Spire Wealth Management raised its position in shares of Sempra by 85.6% during the third quarter. Spire Wealth Management now owns 412 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 190 shares during the period. Finally, West Tower Group LLC acquired a new stake in shares of Sempra during the second quarter worth $31,000. 84.83% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SRE has been the topic of several recent analyst reports. Mizuho cut their target price on shares of Sempra from $83.00 to $79.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised shares of Sempra from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $78.00 to $86.00 in a research note on Tuesday, December 12th. LADENBURG THALM/SH SH initiated coverage on shares of Sempra in a research note on Wednesday, January 3rd. They set a “buy” rating and a $81.50 target price on the stock. BMO Capital Markets raised shares of Sempra from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $76.00 to $84.00 in a research note on Thursday, January 11th. Finally, Barclays upped their price objective on shares of Sempra from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.83.
In other news, CEO Jeffrey W. Martin sold 34,190 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.83, for a total transaction of $2,421,677.70. Following the transaction, the chief executive officer now owns 2 shares of the company’s stock, valued at approximately $141.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.
Sempra Stock Performance
Shares of NYSE SRE opened at $69.84 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.55 and a current ratio of 0.61. The firm has a market cap of $43.95 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 2.92 and a beta of 0.72. The business’s 50-day simple moving average is $73.49 and its 200-day simple moving average is $71.95. Sempra has a 52 week low of $63.75 and a 52 week high of $80.15.
Sempra Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Wednesday, December 6th were issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, December 5th. Sempra’s dividend payout ratio is 55.03%.
Sempra Company Profile
Sempra operates as an energy infrastructure company in the United States and internationally. It operates through four segments: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure. The San Diego Gas & Electric Company segment provides to San Diego and southern Orange counties; and natural gas service to San Diego County.
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