Bank of America initiated coverage on shares of Sempra (NYSE:SRE – Free Report) in a research note released on Thursday, Marketbeat reports. The firm issued a buy rating and a $94.00 price objective on the utilities provider’s stock.
SRE has been the topic of a number of other research reports. Mizuho increased their price target on Sempra from $79.00 to $86.00 and gave the company a buy rating in a research note on Friday, May 17th. Barclays increased their price target on shares of Sempra from $81.00 to $87.00 and gave the company an overweight rating in a research report on Tuesday, August 13th. LADENBURG THALM/SH SH decreased their price objective on shares of Sempra from $81.50 to $79.00 and set a buy rating for the company in a report on Wednesday, May 29th. Evercore ISI increased their target price on shares of Sempra from $83.00 to $84.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on shares of Sempra from $77.00 to $80.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Sempra presently has an average rating of Moderate Buy and a consensus price target of $85.00.
View Our Latest Report on Sempra
Sempra Price Performance
Shares of SRE stock traded up $0.33 during trading hours on Thursday, reaching $81.70. 2,331,203 shares of the company were exchanged, compared to its average volume of 2,908,580. Sempra has a fifty-two week low of $63.75 and a fifty-two week high of $84.28. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.46 and a quick ratio of 0.41. The stock’s fifty day moving average is $79.42 and its two-hundred day moving average is $75.32. The company has a market cap of $51.48 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.86 and a beta of 0.75.
Sempra (NYSE:SRE – Get Free Report) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. Sell-side analysts forecast that Sempra will post 4.79 earnings per share for the current fiscal year.
Sempra Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, September 26th. Sempra’s payout ratio is 54.99%.
Insider Activity at Sempra
In other Sempra news, CAO Peter R. Wall sold 6,100 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total transaction of $457,927.00. Following the sale, the chief accounting officer now directly owns 14,751 shares of the company’s stock, valued at $1,107,357.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Family Firm Inc. acquired a new position in shares of Sempra during the 2nd quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC bought a new position in Sempra during the 2nd quarter worth $33,000. Financial Connections Group Inc. acquired a new position in Sempra in the 2nd quarter valued at $34,000. SouthState Corp raised its holdings in Sempra by 900.0% in the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 423 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Sempra during the 2nd quarter valued at $39,000. 89.65% of the stock is owned by institutional investors and hedge funds.
Sempra Company Profile
Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.
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