Sempra (NYSE:SRE) Hits New 12-Month High – Here’s Why

Sempra (NYSE:SRE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $93.23 and last traded at $93.23, with a volume of 1242393 shares. The stock had previously closed at $92.92.

Analyst Upgrades and Downgrades

SRE has been the subject of several analyst reports. Bank of America initiated coverage on Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective for the company. BMO Capital Markets upped their price objective on shares of 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 started coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

Sempra Price Performance

The business has a 50-day moving average of $84.72 and a two-hundred day moving average of $80.16. The firm has a market cap of $59.15 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 2.53 and a beta of 0.75. 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 posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.16). Sempra had a return on equity of 8.06% and a net margin of 22.63%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

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

Institutional Investors Weigh In On Sempra

Several large investors have recently modified their holdings of the company. Eastern Bank acquired a new position in Sempra in the third quarter valued at approximately $28,000. Hollencrest Capital Management lifted its holdings in shares of 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 purchasing an additional 270 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Sempra during the second quarter valued at approximately $30,000. Ashton Thomas Private Wealth LLC bought a new stake in Sempra during the second quarter worth $33,000. Finally, LRI Investments LLC raised its position in Sempra by 180.4% in the 3rd quarter. LRI Investments LLC now owns 443 shares of the utilities provider’s stock valued at $40,000 after buying an additional 285 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

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.