ING Groep NV Takes Position in Sempra (NYSE:SRE)

ING Groep NV purchased a new position in Sempra (NYSE:SRE) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 157,515 shares of the utilities provider’s stock, valued at approximately $13,173,000.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in Sempra in the third quarter worth about $28,000. Family Firm Inc. purchased a new position in Sempra in the 2nd quarter worth approximately $30,000. Hollencrest Capital Management raised its holdings in Sempra by 250.0% in the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 270 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Sempra in the 2nd quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. purchased a new stake in Sempra during the 2nd quarter valued at $34,000. Institutional investors own 89.65% of the company’s stock.

Sempra Price Performance

NYSE SRE opened at $90.44 on Friday. The business’s fifty day moving average is $84.17 and its 200 day moving average is $79.69. Sempra has a fifty-two week low of $66.40 and a fifty-two week high of $93.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.47 and a current ratio of 0.52. The company has a market capitalization of $57.28 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.53 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Sempra had a net margin of 22.63% and a return on equity of 8.06%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 earnings per share. Sell-side analysts predict that Sempra will post 4.77 earnings per share for the current year.

Sempra Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.74%. Sempra’s dividend payout ratio (DPR) is presently 54.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SRE shares. BMO Capital Markets boosted their price target on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Evercore ISI raised their price target on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. Barclays increased their price objective on shares of Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their target price on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Sempra presently has a consensus rating of “Moderate Buy” and an average price target 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.