Concurrent Investment Advisors LLC Sells 916 Shares of Sempra (NYSE:SRE)

Concurrent Investment Advisors LLC reduced its position in Sempra (NYSE:SRE) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 26,178 shares of the utilities provider’s stock after selling 916 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Sempra were worth $2,189,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Eastern Bank bought a new position in shares of Sempra in the third quarter valued at $28,000. Family Firm Inc. bought a new position in Sempra in the 2nd quarter valued at about $30,000. Ashton Thomas Private Wealth LLC acquired a new position in Sempra during the 2nd quarter valued at about $33,000. Financial Connections Group Inc. bought a new stake in Sempra during the 2nd quarter worth approximately $34,000. Finally, SouthState Corp raised its stake in shares of Sempra by 900.0% in the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Sempra Stock Up 1.7 %

Sempra stock opened at $89.76 on Friday. The firm has a 50 day moving average price of $83.26 and a 200-day moving average price of $79.00. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84. Sempra has a twelve month low of $66.40 and a twelve month high of $90.16. The company has a market capitalization of $56.83 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.58 and a beta of 0.75.

Sempra (NYSE:SRE) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.17). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the company posted $1.08 EPS. Sempra’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, equities analysts predict that Sempra will post 4.77 EPS for the current year.

Sempra Dividend Announcement

The company 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 yield of 2.76%. Sempra’s dividend payout ratio is currently 52.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SRE shares. Jefferies Financial Group began coverage on Sempra in a research report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price on the stock. Barclays upped their target price on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Bank of America began coverage on shares of Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price target on the stock. Morgan Stanley upped their price objective on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Evercore ISI lifted their target price on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Sempra currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Sempra 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.