Procyon Advisors LLC Raises Stake in Sempra (NYSE:SRE)

17 Jan 2025, 15:02 by Kim Johansen · The Markets Daily

Procyon Advisors LLC grew its holdings in Sempra (NYSE:SRE – Free Report) by 5.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 59,982 shares of the utilities provider’s stock after acquiring an additional 3,163 shares during the period. Procyon Advisors LLC’s holdings in Sempra were worth $5,262,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Sempra by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 34,324,893 shares of the utilities provider’s stock worth $2,870,591,000 after acquiring an additional 128,847 shares during the last quarter. State Street Corp raised its holdings in shares of Sempra by 4.9% in the 3rd quarter. State Street Corp now owns 32,940,620 shares of the utilities provider’s stock valued at $2,774,974,000 after purchasing an additional 1,539,026 shares in the last quarter. FMR LLC lifted its position in shares of Sempra by 9.1% in the 3rd quarter. FMR LLC now owns 18,978,605 shares of the utilities provider’s stock worth $1,587,181,000 after purchasing an additional 1,582,653 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Sempra by 6.9% during the second quarter. Clearbridge Investments LLC now owns 13,452,912 shares of the utilities provider’s stock valued at $1,023,228,000 after purchasing an additional 874,133 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Sempra by 1.2% during the third quarter. Geode Capital Management LLC now owns 12,761,872 shares of the utilities provider’s stock valued at $1,063,007,000 after buying an additional 145,873 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Stock Performance

Shares of Sempra stock opened at $84.03 on Friday. The business’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $83.72. 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 firm has a market cap of $53.22 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.78. Sempra has a 52 week low of $66.40 and a 52 week high of $95.77.

Sempra (NYSE:SRE – Get Free Report) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.16). Sempra had a return on equity of 8.06% and a net margin of 22.63%. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business earned $1.08 EPS. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Equities analysts forecast that Sempra will post 4.77 earnings per share for the current year.

Sempra Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, December 5th were issued a $0.62 dividend. The ex-dividend date was Thursday, December 5th. This represents a $2.48 annualized dividend and a yield of 2.95%. Sempra’s dividend payout ratio (DPR) is presently 54.63%.

Insider Buying and Selling at Sempra

In related news, VP Trevor I. Mihalik sold 23,713 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the completion of the transaction, the vice president now directly owns 11,190 shares in the company, valued at $1,041,677.10. This trade represents a 67.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets increased their target price on Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley raised Sempra from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $98.00 in a research report on Friday, December 13th. Jefferies Financial Group began coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price for the company. Barclays upped their price target on Sempra from $89.00 to $99.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company raised their target price on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Check Out Our Latest Analysis on SRE

Sempra Profile

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