Meyer Handelman Co. Sells 550 Shares of Sempra (NYSE:SRE)

Meyer Handelman Co. reduced its stake in Sempra (NYSE:SREGet Rating) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,398 shares of the utilities provider’s stock after selling 550 shares during the period. Meyer Handelman Co.’s holdings in Sempra were worth $5,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. NuWave Investment Management LLC acquired a new stake in shares of Sempra in the 2nd quarter valued at about $25,000. Herold Advisors Inc. bought a new position in Sempra during the first quarter worth about $34,000. Acadian Asset Management LLC grew its holdings in Sempra by 1,763.6% during the fourth quarter. Acadian Asset Management LLC now owns 205 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 194 shares during the period. Kings Point Capital Management boosted its holdings in shares of Sempra by 70.8% during the first quarter. Kings Point Capital Management now owns 205 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 85 shares during the period. Finally, Riverview Trust Co bought a new stake in shares of Sempra in the first quarter valued at approximately $41,000. 85.37% of the stock is currently owned by institutional investors.

Sempra Stock Down 2.6 %

NYSE:SRE traded down $4.31 on Friday, hitting $159.88. The stock had a trading volume of 18,132 shares, compared to its average volume of 1,191,457. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.73 and a current ratio of 0.78. The stock has a market cap of $50.25 billion, a P/E ratio of 45.03, a price-to-earnings-growth ratio of 3.34 and a beta of 0.67. Sempra has a 1 year low of $119.56 and a 1 year high of $176.47. The firm’s fifty day simple moving average is $165.19 and its two-hundred day simple moving average is $161.03.

Sempra (NYSE:SREGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The utilities provider reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.16. Sempra had a net margin of 8.84% and a return on equity of 11.01%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted $1.63 EPS. Sempra’s quarterly revenue was up 29.4% compared to the same quarter last year. Analysts predict that Sempra will post 8.65 earnings per share for the current year.

Sempra Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Friday, September 23rd will be issued a $1.145 dividend. This represents a $4.58 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, September 22nd. Sempra’s dividend payout ratio (DPR) is presently 128.29%.

Analysts Set New Price Targets

SRE has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of Sempra from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $164.00 to $167.00 in a research report on Wednesday, July 6th. Bank of America upgraded shares of Sempra from a “neutral” rating to a “buy” rating in a report on Thursday, July 14th. Wells Fargo & Company upped their price target on shares of Sempra from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Thursday, September 15th. Barclays lowered their price target on shares of Sempra from $186.00 to $176.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Finally, Morgan Stanley lowered their price target on shares of Sempra from $169.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.67.

About Sempra

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Sempra operates as an energy-services holding company in the United States and internationally. The company's San Diego Gas & Electric Company segment provides electric services; and supplies natural gas. It offers electric services to approximately 3.6 million population and natural gas services to approximately 3.3 million population that covers 4,100 square miles.

See Also

Institutional Ownership by Quarter for Sempra (NYSE:SRE)

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