Carnegie Capital Asset Management LLC Trims Stock Holdings in Sempra (NYSE:SRE)

Carnegie Capital Asset Management LLC trimmed its position in Sempra (NYSE:SRE – Free Report) by 26.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,229 shares of the utilities provider’s stock after selling 821 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Sempra were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SRE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sempra by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,141,824 shares of the utilities provider’s stock worth $191,963,000 after acquiring an additional 6,246 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Sempra by 780.0% during the first quarter. Acadian Asset Management LLC now owns 1,804 shares of the utilities provider’s stock valued at $302,000 after purchasing an additional 1,599 shares in the last quarter. Cibc World Market Inc. bought a new position in shares of Sempra during the first quarter valued at $782,000. Dimensional Fund Advisors LP lifted its holdings in shares of Sempra by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 668,646 shares of the utilities provider’s stock valued at $112,411,000 after purchasing an additional 23,431 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Sempra by 77.4% during the first quarter. Vontobel Holding Ltd. now owns 13,575 shares of the utilities provider’s stock valued at $2,276,000 after purchasing an additional 5,924 shares in the last quarter. 84.45% of the stock is owned by hedge funds and other institutional investors.

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Sempra Stock Performance

Shares of SRE opened at $145.18 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $148.34 and a two-hundred day simple moving average of $152.16. The stock has a market cap of $45.68 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.36 and a beta of 0.73. Sempra has a 52 week low of $136.54 and a 52 week high of $176.47.

Sempra (NYSE:SRE – Free Report) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.16. The business had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Sempra had a return on equity of 10.28% and a net margin of 14.47%. The business’s quarterly revenue was up 71.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 earnings per share. On average, analysts expect that Sempra will post 8.99 EPS for the current year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Wednesday, July 5th will be given a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, July 3rd. Sempra’s payout ratio is 61.34%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SRE shares. 888 reaffirmed a “maintains” rating on shares of Sempra in a report on Friday, June 23rd. StockNews.com started coverage on Sempra in a report on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group started coverage on Sempra in a research report on Wednesday, June 7th. They set a “buy” rating and a $178.00 price objective for the company. Morgan Stanley upped their price objective on Sempra from $150.00 to $164.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. Finally, Bank of America reduced their price objective on Sempra from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, March 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.63.

Sempra Profile

(Free Report)

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through four segments: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure. The San Diego Gas & Electric Company segment provides to San Diego and southern Orange counties; and natural gas service to San Diego County.

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