Sempra (NYSE:SRE) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in shares of Sempra (NYSE:SRE) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,583 shares of the utilities provider’s stock after selling 2,158 shares during the period. Amalgamated Bank’s holdings in Sempra were worth $10,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank acquired a new stake in Sempra during the third quarter worth $28,000. Family Firm Inc. acquired a new stake in shares of Sempra during the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC purchased a new stake in Sempra in the 2nd quarter valued at about $33,000. Financial Connections Group Inc. acquired a new position in Sempra in the second quarter valued at about $34,000. Finally, SouthState Corp boosted its stake in Sempra by 900.0% during the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after buying an additional 423 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRE. Morgan Stanley boosted their price target 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. Barclays boosted their target price on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. BMO Capital Markets raised their price target on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Finally, Bank of America began coverage on Sempra in a report on Thursday, September 12th. They set a “buy” rating and a $94.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Sempra has an average rating of “Moderate Buy” and a consensus target price of $87.55.

Sempra Stock Up 1.7 %

Shares of NYSE:SRE opened at $82.22 on Wednesday. Sempra has a fifty-two week low of $66.40 and a fifty-two week high of $86.57. The firm’s 50 day moving average price is $83.12 and its 200 day moving average price is $78.93. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.61 and a beta of 0.75.

Sempra (NYSE:SRE) last announced its quarterly earnings data 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 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%. Sempra’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, equities research analysts predict that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is 52.99%.

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.