Ballentine Partners LLC Sells 387 Shares of Sempra (NYSE:SRE)

Ballentine Partners LLC cut its stake in Sempra (NYSE:SRE) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,817 shares of the utilities provider’s stock after selling 387 shares during the quarter. Ballentine Partners LLC’s holdings in Sempra were worth $274,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SRE. Mechanics Bank Trust Department lifted its position in Sempra by 1.4% during the fourth quarter. Mechanics Bank Trust Department now owns 10,182 shares of the utilities provider’s stock worth $761,000 after acquiring an additional 140 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Sempra by 7.5% during the 4th quarter. Benjamin Edwards Inc. now owns 2,081 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 146 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Sempra by 0.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 38,190 shares of the utilities provider’s stock worth $2,854,000 after purchasing an additional 147 shares during the last quarter. Sandy Spring Bank boosted its stake in Sempra by 0.8% in the 4th quarter. Sandy Spring Bank now owns 18,610 shares of the utilities provider’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. Finally, Presima Securities ULC grew its holdings in Sempra by 2.8% in the 4th quarter. Presima Securities ULC now owns 5,550 shares of the utilities provider’s stock valued at $415,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Sempra Price Performance

Shares of SRE stock opened at $75.44 on Wednesday. The business has a fifty day simple moving average of $74.78 and a 200 day simple moving average of $72.97. The company has a market cap of $47.54 billion, a P/E ratio of 16.71, a P/E/G ratio of 2.66 and a beta of 0.74. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.87. Sempra has a twelve month low of $63.75 and a twelve month high of $78.83.

Sempra (NYSE:SRE) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Sempra had a return on equity of 8.95% and a net margin of 20.99%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the firm posted $1.46 EPS. The firm’s revenue was down 44.5% compared to the same quarter last year. On average, sell-side analysts forecast that Sempra will post 4.8 EPS for the current fiscal year.

Sempra Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Thursday, June 27th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Thursday, June 27th. Sempra’s dividend payout ratio (DPR) is currently 54.93%.

Insider Activity

In other Sempra news, Director Richard J. Mark bought 1,925 shares of Sempra stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $77.97 per share, with a total value of $150,092.25. Following the acquisition, the director now directly owns 5,420 shares of the company’s stock, valued at approximately $422,597.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Peter R. Wall sold 6,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.07, for a total value of $457,927.00. Following the sale, the chief accounting officer now directly owns 14,751 shares in the company, valued at $1,107,357.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Mark bought 1,925 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were purchased at an average cost of $77.97 per share, with a total value of $150,092.25. Following the transaction, the director now directly owns 5,420 shares in the company, valued at approximately $422,597.40. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SRE has been the subject of a number of research reports. Morgan Stanley dropped their target price on Sempra from $79.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday. Mizuho boosted their price objective on shares of Sempra from $79.00 to $86.00 and gave the company a “buy” rating in a report on Friday, May 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $82.00 target price on shares of Sempra in a report on Wednesday, March 6th. Wells Fargo & Company lifted their price target on shares of Sempra from $79.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, LADENBURG THALM/SH SH reduced their price target on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Sempra has an average rating of “Moderate Buy” and a consensus price target of $82.10.

Sempra 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.