PNC Financial Services Group Inc. Acquires 6,709 Shares of Sempra (NYSE:SRE)

PNC Financial Services Group Inc. grew its holdings in Sempra (NYSE:SRE) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 357,107 shares of the utilities provider’s stock after purchasing an additional 6,709 shares during the period. PNC Financial Services Group Inc.’s holdings in Sempra were worth $29,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Eastern Bank purchased a new position in Sempra in the 3rd quarter valued at approximately $28,000. Family Firm Inc. bought a new position in shares of Sempra in the second quarter worth $30,000. Hollencrest Capital Management boosted its holdings in shares of Sempra by 250.0% in the third 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 period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Sempra in the second quarter valued at $33,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Sempra during the 2nd quarter valued at $34,000. Institutional investors own 89.65% of the company’s stock.

Sempra Stock Down 0.3 %

SRE opened at $93.12 on Thursday. The business’s fifty day simple moving average is $85.18 and its 200 day simple moving average is $80.39. Sempra has a 52 week low of $66.40 and a 52 week high of $93.90. 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 stock has a market cap of $58.98 billion, a PE ratio of 20.51, a P/E/G ratio of 2.53 and a beta of 0.75.

Sempra (NYSE:SRE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.16). The firm 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%. Sempra’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. As a group, research analysts expect that Sempra will post 4.77 earnings per share for the current fiscal year.

Sempra Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be issued a $0.62 dividend. The ex-dividend date is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.66%. Sempra’s payout ratio is 54.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SRE shares. Wells Fargo & Company lifted their target price on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Evercore ISI increased their target price on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. 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 for the company. Finally, Morgan Stanley increased their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sempra has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Insider Activity

In other news, VP Trevor I. Mihalik sold 23,713 shares of Sempra stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $93.09, for a total value of $2,207,443.17. Following the transaction, the vice president now owns 11,190 shares in the company, valued at approximately $1,041,677.10. The trade was a 67.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.