SPX Gestao de Recursos Ltda Trims Holdings in Sempra (NYSE:SRE)

SPX Gestao de Recursos Ltda cut its position in shares of Sempra (NYSE:SRE) by 82.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 80,876 shares of the utilities provider’s stock after selling 375,254 shares during the quarter. Sempra accounts for approximately 0.9% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 23rd largest position. SPX Gestao de Recursos Ltda’s holdings in Sempra were worth $6,151,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SRE. Family Firm Inc. purchased a new stake in Sempra in the 2nd quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC acquired a new position in Sempra in the second quarter valued at $33,000. Financial Connections Group Inc. acquired a new position in Sempra in the second quarter valued at $34,000. SouthState Corp boosted its stake in Sempra by 900.0% in the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after buying an additional 423 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Sempra in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Sempra Price Performance

Shares of NYSE SRE opened at $83.63 on Tuesday. The business’s fifty day moving average price is $81.10 and its two-hundred day moving average price is $76.47. The firm has a market capitalization of $52.70 billion, a PE ratio of 18.54, a P/E/G ratio of 2.64 and a beta of 0.75. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.46 and a quick ratio of 0.41. Sempra has a 1-year low of $63.75 and a 1-year high of $84.38.

Sempra (NYSE:SRE) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a return on equity of 8.58% and a net margin of 22.31%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, research analysts expect that Sempra will post 4.79 EPS for the current year.

Sempra Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is presently 54.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets increased their price target on shares of Sempra from $90.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Morgan Stanley boosted their price objective on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America initiated coverage on Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 target price on the stock. Finally, Barclays upped their price target on Sempra from $81.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Sempra has an average rating of “Moderate Buy” and a consensus target price of $85.42.

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.