Cornerstone Wealth Group LLC Acquires 199 Shares of Sempra (NYSE:SRE)

Cornerstone Wealth Group LLC boosted its position in Sempra (NYSE:SRE) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 39,634 shares of the utilities provider’s stock after purchasing an additional 199 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Sempra were worth $3,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SteelPeak Wealth LLC acquired a new position in Sempra in the 3rd quarter worth about $4,038,000. Pinnacle Associates Ltd. acquired a new position in Sempra in the 3rd quarter worth about $248,000. First Trust Direct Indexing L.P. increased its holdings in Sempra by 38.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 28,306 shares of the utilities provider’s stock worth $2,367,000 after purchasing an additional 7,823 shares in the last quarter. Edge Financial Advisors LLC acquired a new position in Sempra in the 3rd quarter worth about $382,000. Finally, AMI Asset Management Corp acquired a new position in Sempra in the 3rd quarter worth about $569,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Wall Street Analysts Forecast Growth

SRE has been the subject of a number of recent research reports. BMO Capital Markets upped their target price on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Jefferies Financial Group began 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. Evercore ISI increased their price target on Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America began coverage on Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target for the company. Finally, Barclays increased their price target on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.55.

Sempra Trading Down 0.0 %

NYSE SRE opened at $83.53 on Thursday. The business has a 50 day simple moving average of $83.09 and a 200 day simple moving average of $78.47. Sempra has a one year low of $66.40 and a one year high of $86.57. The stock has a market capitalization of $52.89 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.69 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 (NYSE:SRE) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a return on equity of 8.58% and a net margin of 22.31%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Research analysts expect that Sempra will post 4.78 earnings per share for the current year.

Sempra Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Thursday, September 26th were issued a $0.62 dividend. The ex-dividend date was Thursday, September 26th. This represents a $2.48 annualized dividend and a yield of 2.97%. Sempra’s payout ratio is currently 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.