Sempra (NYSE:SRE) Price Target Raised to $89.00

Sempra (NYSE:SRE) had its target price hoisted by Barclays from $87.00 to $89.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

SRE has been the subject of a number of other research reports. Bank of America initiated coverage on Sempra in a research report on Thursday, September 12th. They set a buy rating and a $94.00 price objective for the company. Evercore ISI increased their price objective on Sempra from $83.00 to $84.00 and gave the company an outperform rating in a research report on Wednesday, August 7th. BMO Capital Markets increased their price objective on Sempra from $90.00 to $93.00 and gave the company an outperform rating in a research report on Thursday, September 12th. Finally, Morgan Stanley increased their price objective on Sempra from $80.00 to $85.00 and gave the company an equal weight rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Sempra has a consensus rating of Moderate Buy and an average price target of $85.27.

Sempra Stock Performance

NYSE:SRE opened at $82.60 on Tuesday. The company has a 50-day moving average of $81.48 and a 200-day moving average of $76.74. The firm has a market cap of $52.05 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84. Sempra has a twelve month low of $64.29 and a twelve month high of $84.47.

Sempra (NYSE:SRE) last issued its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a return on equity of 8.58% and a net margin of 22.31%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts forecast that Sempra will post 4.79 earnings per share for the current fiscal year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, September 26th. Sempra’s dividend payout ratio is currently 54.99%.

Institutional Trading of Sempra

Institutional investors have recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in shares of Sempra during the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC acquired a new position in Sempra in the second quarter worth approximately $33,000. Financial Connections Group Inc. bought a new position in Sempra during the second quarter valued at approximately $34,000. SouthState Corp lifted its stake in Sempra by 900.0% in the second quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 423 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Sempra in the second quarter worth approximately $39,000. Institutional investors and hedge funds own 89.65% 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.