Advisors Capital Management LLC Purchases Shares of 2,564 Sempra (NYSE:SRE)

Advisors Capital Management LLC purchased a new stake in shares of Sempra (NYSE:SRE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,564 shares of the utilities provider’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in Sempra during the fourth quarter worth about $26,000. Prudent Man Investment Management Inc. acquired a new position in shares of Sempra in the 4th quarter worth approximately $26,000. Synergy Investment Management LLC bought a new stake in shares of Sempra in the 4th quarter worth approximately $29,000. TCTC Holdings LLC raised its holdings in shares of Sempra by 265.2% in the 4th quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 244 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Sempra during the fourth quarter valued at approximately $29,000. Institutional investors own 89.65% of the company’s stock.

Sempra Stock Up 0.7 %

SRE stock opened at $70.21 on Wednesday. The company has a 50 day moving average of $73.11 and a two-hundred day moving average of $81.71. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89. Sempra has a 12-month low of $61.90 and a 12-month high of $95.77. The company has a market cap of $45.77 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.19 and a beta of 0.65.

Sempra (NYSE:SRE) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. Sempra had a return on equity of 8.06% and a net margin of 22.63%. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that Sempra will post 4.76 earnings per share for the current fiscal year.

Sempra Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Thursday, March 20th were paid a $0.645 dividend. The ex-dividend date was Thursday, March 20th. This is a boost from Sempra’s previous quarterly dividend of $0.62. This represents a $2.58 dividend on an annualized basis and a yield of 3.67%. Sempra’s payout ratio is 58.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group cut Sempra from a “buy” rating to a “neutral” rating and dropped their price target for the company from $99.00 to $76.00 in a report on Wednesday, February 26th. Jefferies Financial Group reduced their target price on Sempra from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday. BMO Capital Markets decreased their price target on Sempra from $92.00 to $78.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Mizuho cut their price objective on Sempra from $92.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup cut their price target on shares of Sempra from $93.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.31.

Insiders Place Their Bets

In related news, Director Michael N. Mears bought 1,000 shares of Sempra stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $67.70 per share, for a total transaction of $67,700.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $338,500. This trade represents a 25.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Justin Christopher Bird sold 4,817 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $71.23, for a total value of $343,114.91. Following the transaction, the executive vice president now owns 19,778 shares in the company, valued at approximately $1,408,786.94. This trade represents a 19.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 9,319 shares of company stock valued at $651,676 and sold 57,309 shares valued at $4,694,019. Insiders own 0.24% of the company’s stock.

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.