Energy Income Partners LLC Sells 355,384 Shares of Sempra (NYSE:SRE)

Energy Income Partners LLC reduced its holdings in Sempra (NYSE:SRE) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,245,620 shares of the utilities provider’s stock after selling 355,384 shares during the quarter. Sempra comprises 3.3% of Energy Income Partners LLC’s portfolio, making the stock its 8th biggest holding. Energy Income Partners LLC owned approximately 0.35% of Sempra worth $161,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Sempra by 12.1% in 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 purchasing an additional 2,917,668 shares during the last quarter. Norges Bank acquired a new stake in shares of Sempra in the fourth quarter valued at about $958,253,000. Clearbridge Investments LLC grew its position in Sempra by 1.9% during the first quarter. Clearbridge Investments LLC now owns 12,578,779 shares of the utilities provider’s stock worth $903,534,000 after buying an additional 233,819 shares in the last quarter. Franklin Resources Inc. grew its position in Sempra by 7.7% during the fourth quarter. Franklin Resources Inc. now owns 7,077,642 shares of the utilities provider’s stock worth $528,912,000 after buying an additional 507,622 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Sempra by 1.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 4,338,565 shares of the utilities provider’s stock worth $324,221,000 after buying an additional 54,592 shares in the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Sempra Price Performance

NYSE SRE traded up $0.48 during trading on Friday, reaching $78.55. 2,530,372 shares of the company traded hands, compared to its average volume of 2,746,121. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.57 and a current ratio of 0.62. The stock’s 50 day moving average price is $76.25 and its two-hundred day moving average price is $73.22. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 2.73 and a beta of 0.74. Sempra has a 1-year low of $63.75 and a 1-year high of $80.54.

Sempra (NYSE:SRE) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Sempra had a net margin of 20.99% and a return on equity of 8.95%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter last year, the firm posted $1.46 EPS. The business’s revenue was down 44.5% on a year-over-year basis. As a group, analysts anticipate that Sempra will post 4.8 EPS for the current year.

Sempra Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Thursday, June 27th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Thursday, June 27th. Sempra’s dividend payout ratio (DPR) is currently 54.93%.

Insider Activity

In other news, Director Richard J. Mark bought 1,925 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $77.97 per share, for a total transaction of $150,092.25. Following the completion of the purchase, the director now owns 5,420 shares of the company’s stock, valued at approximately $422,597.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Peter R. Wall sold 6,100 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total value of $457,927.00. Following the completion of the transaction, the chief accounting officer now owns 14,751 shares in the company, valued at approximately $1,107,357.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Mark acquired 1,925 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $77.97 per share, with a total value of $150,092.25. Following the transaction, the director now directly owns 5,420 shares in the company, valued at $422,597.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SRE. Morgan Stanley decreased their target price on Sempra from $79.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. BMO Capital Markets decreased their target price on Sempra from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company lifted their target price on Sempra from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Mizuho lifted their target price on Sempra from $79.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, LADENBURG THALM/SH SH decreased their target price on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.10.

About Sempra

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.