Sempra (NYSE:SRE) Price Target Raised to $89.00 at Barclays

Sempra (NYSE:SRE) had its price target raised by Barclays from $87.00 to $89.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on SRE. 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 research report on Wednesday, August 7th. Bank of America initiated coverage on shares of Sempra in a research report on Thursday, September 12th. They issued a buy rating and a $94.00 target price for the company. 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 report on Thursday, September 12th. Finally, Morgan Stanley upped their target price on Sempra from $80.00 to $85.00 and gave the stock an equal weight rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $85.58.

Sempra Price Performance

Shares of NYSE SRE opened at $83.93 on Tuesday. The business’s 50 day moving average is $81.23 and its 200-day moving average is $76.57. The firm has a market cap of $52.89 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. Sempra has a 1-year low of $63.75 and a 1-year high of $84.47. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84.

Sempra (NYSE:SRE) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.94 EPS. Equities research analysts predict that Sempra will post 4.79 earnings per share for the current year.

Sempra Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $2.48 dividend on an annualized basis and a yield of 2.95%. Sempra’s payout ratio is presently 54.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRE. Family Firm Inc. acquired a new position in shares of Sempra during the second quarter worth $30,000. Ashton Thomas Private Wealth LLC acquired a new position in Sempra during the 2nd quarter worth about $33,000. Financial Connections Group Inc. acquired a new position in Sempra during the 2nd quarter worth about $34,000. SouthState Corp grew its position in shares of 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 buying an additional 423 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Sempra in the second quarter valued at about $39,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

About Sempra

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.