1ST Source Bank Has $247,000 Stake in Sempra (NYSE:SRE)

1ST Source Bank reduced its stake in shares of Sempra (NYSE:SRE) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,250 shares of the utilities provider’s stock after selling 622 shares during the quarter. 1ST Source Bank’s holdings in Sempra were worth $247,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Sempra during the 4th quarter worth about $958,253,000. Wellington Management Group LLP raised its position in Sempra by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 27,123,899 shares of the utilities provider’s stock valued at $2,026,969,000 after acquiring an additional 2,917,668 shares in the last quarter. Nordea Investment Management AB lifted its stake in Sempra by 5,279.4% in the first quarter. Nordea Investment Management AB now owns 1,583,816 shares of the utilities provider’s stock valued at $113,591,000 after acquiring an additional 1,554,374 shares during the last quarter. M&G Plc bought a new stake in Sempra in the first quarter worth approximately $64,994,000. Finally, Zimmer Partners LP increased its stake in shares of Sempra by 96.9% during the 1st quarter. Zimmer Partners LP now owns 1,636,202 shares of the utilities provider’s stock worth $117,528,000 after purchasing an additional 805,084 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Peter R. Wall sold 6,100 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $75.07, for a total value of $457,927.00. Following the sale, the chief accounting officer now directly owns 14,751 shares in the company, valued at approximately $1,107,357.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SRE shares. Evercore ISI upped their price objective on shares of Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. LADENBURG THALM/SH SH cut their price objective on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Bank of America assumed coverage on Sempra in a research report on Thursday. They set a “buy” rating and a $94.00 target price for the company. Barclays lifted their price target on shares of Sempra from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, BMO Capital Markets upped their price objective on shares of Sempra from $90.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Sempra Trading Up 1.6 %

Shares of SRE opened at $82.97 on Friday. The stock’s 50-day moving average price is $79.69 and its 200 day moving average price is $75.47. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.83 and a beta of 0.75. Sempra has a 12-month low of $63.75 and a 12-month high of $84.28.

Sempra (NYSE:SRE) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, research analysts predict that Sempra will post 4.79 earnings per share for the current year.

Sempra Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 26th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.99%. The ex-dividend date is Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is presently 54.93%.

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.