Trevor I. Mihalik Sells 23,713 Shares of Sempra (NYSE:SRE) Stock

Sempra (NYSE:SRE) 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 value of $2,207,443.17. Following the sale, the vice president now directly owns 11,190 shares in the company, valued at approximately $1,041,677.10. This represents a 67.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sempra Stock Performance

Shares of SRE opened at $93.12 on Thursday. The business’s 50 day moving average price is $85.18 and its 200-day moving average price is $80.39. 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 stock has a market cap of $58.98 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.56 and a beta of 0.75. Sempra has a 52 week low of $66.40 and a 52 week high of $93.90.

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

Sempra Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, December 5th. Sempra’s dividend payout ratio is currently 54.63%.

Institutional Investors Weigh In On Sempra

A number of institutional investors have recently added to or reduced their stakes in SRE. Eastern Bank purchased a new stake in shares of Sempra during the 3rd quarter worth approximately $28,000. Family Firm Inc. purchased a new stake in shares of Sempra in the second quarter valued at approximately $30,000. Hollencrest Capital Management grew its position in shares of Sempra by 250.0% during the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock worth $32,000 after buying an additional 270 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Sempra during the 2nd quarter valued at about $33,000. Finally, Financial Connections Group Inc. bought a new position in Sempra in the second quarter worth approximately $34,000. 89.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SRE has been the topic of several recent analyst reports. Bank of America assumed coverage on Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 price target on the stock. Jefferies Financial Group began coverage on shares of Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Morgan Stanley increased their target price on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Evercore ISI increased their price objective on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.