Concurrent Investment Advisors LLC Sells 916 Shares of Sempra (NYSE:SRE)

Concurrent Investment Advisors LLC decreased its holdings in Sempra (NYSE:SRE) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,178 shares of the utilities provider’s stock after selling 916 shares during the period. Concurrent Investment Advisors LLC’s holdings in Sempra were worth $2,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. James J. Burns & Company LLC bought a new position in Sempra in the third quarter valued at about $217,000. Greenwood Capital Associates LLC bought a new stake in shares of Sempra during the 3rd quarter valued at approximately $1,164,000. PDS Planning Inc lifted its stake in Sempra by 33.6% in the 3rd quarter. PDS Planning Inc now owns 3,519 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 885 shares during the last quarter. QRG Capital Management Inc. boosted its position in Sempra by 11.2% in the third quarter. QRG Capital Management Inc. now owns 5,871 shares of the utilities provider’s stock valued at $491,000 after buying an additional 589 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of Sempra by 2.7% during the third quarter. Asset Management One Co. Ltd. now owns 304,821 shares of the utilities provider’s stock worth $25,492,000 after buying an additional 8,069 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group started coverage on shares of Sempra in a report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price on the stock. Bank of America began coverage on shares of Sempra in a research note on Thursday, September 12th. They set a “buy” rating and a $94.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Sempra currently has an average rating of “Moderate Buy” and an average target price of $89.00.

Sempra Price Performance

SRE stock opened at $89.76 on Friday. Sempra has a 12-month low of $66.40 and a 12-month high of $90.16. 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 company’s fifty day simple moving average is $83.26 and its 200 day simple moving average is $79.00. The firm has a market cap of $56.83 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.58 and a beta of 0.75.

Sempra (NYSE:SRE) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.17). The business had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a return on equity of 8.58% and a net margin of 22.31%. Sempra’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, analysts expect that Sempra will post 4.77 earnings per share for the current year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.76%. Sempra’s dividend payout ratio (DPR) is currently 52.99%.

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.