Trevor I. Mihalik Sells 23,713 Shares of Sempra (NYSE:SRE) Stock

Sempra (NYSE:SREGet Free Report) VP Trevor I. Mihalik sold 23,713 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the completion of the transaction, the vice president now owns 11,190 shares of the company’s stock, valued at $1,041,677.10. This trade represents a 67.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Sempra Stock Performance

Sempra stock traded down $0.26 during midday trading on Wednesday, reaching $93.12. The stock had a trading volume of 2,289,183 shares, compared to its average volume of 2,898,519. Sempra has a 12 month low of $66.40 and a 12 month high of $93.90. The firm has a market capitalization of $58.98 billion, a PE ratio of 20.57, a P/E/G ratio of 2.53 and a beta of 0.75. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average price is $84.94 and its 200 day moving average price is $80.30.

Sempra (NYSE:SREGet Free Report) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.16). The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a net margin of 22.63% and a return on equity of 8.06%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. As a group, research analysts predict that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Thursday, December 5th. Sempra’s dividend payout ratio (DPR) is presently 54.63%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Sempra during the 3rd quarter valued at $246,000. Unigestion Holding SA purchased a new stake in Sempra in the 3rd quarter worth approximately $33,023,000. TCW Group Inc. increased its holdings in Sempra by 24.4% in the 3rd quarter. TCW Group Inc. now owns 84,301 shares of the utilities provider’s stock worth $7,050,000 after acquiring an additional 16,536 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Sempra by 23.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 16,864 shares of the utilities provider’s stock worth $1,410,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its stake in Sempra by 37.8% in the 3rd quarter. Fortem Financial Group LLC now owns 4,853 shares of the utilities provider’s stock worth $406,000 after purchasing an additional 1,330 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SRE. Morgan Stanley increased their price target on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group assumed coverage on shares of Sempra in a research note on Thursday, October 24th. They set a “buy” rating and a $98.00 price objective on the stock. Barclays raised their price target 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. 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 target price on the stock. Finally, Evercore ISI raised their price target on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

View Our Latest Research Report on Sempra

Sempra Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Sempra (NYSE:SRE)

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