Qsemble Capital Management LP Makes New Investment in Sempra (NYSE:SRE)

Qsemble Capital Management LP acquired a new stake in Sempra (NYSE:SRE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,707 shares of the utilities provider’s stock, valued at approximately $1,230,000.

Several other institutional investors have also recently modified their holdings of SRE. Eastern Bank purchased a new stake in shares of Sempra in the third quarter worth about $28,000. Hollencrest Capital Management lifted its holdings in Sempra by 250.0% in the third quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 270 shares during the period. 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 stake in shares of Sempra during the 2nd quarter worth approximately $33,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Sempra in the 2nd quarter valued at $34,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Sempra Stock Performance

NYSE:SRE opened at $93.28 on Wednesday. The company has a market cap of $59.08 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.60 and a beta of 0.75. Sempra has a twelve month low of $66.40 and a twelve month high of $95.77. The company’s 50-day moving average price is $86.07 and its 200-day moving average price is $80.97. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 0.89.

Sempra (NYSE:SRE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Sempra had a return on equity of 8.06% and a net margin of 22.63%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the business earned $1.08 earnings per share. On average, sell-side analysts forecast that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, December 5th. Sempra’s payout ratio is currently 54.63%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. Bank of America started coverage on Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price target on the stock. BMO Capital Markets boosted their price objective on Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sempra presently has an average rating of “Moderate Buy” and an average target price of $89.00.

Insiders Place Their Bets

In related news, VP Trevor I. Mihalik sold 23,713 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total value of $2,207,443.17. Following the completion of the sale, the vice president now owns 11,190 shares of the company’s stock, valued at approximately $1,041,677.10. This represents a 67.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

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.