Retirement Systems of Alabama Cuts Holdings in Sempra (NYSE:SRE)

Retirement Systems of Alabama lowered its holdings in Sempra (NYSE:SRE) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,136 shares of the utilities provider’s stock after selling 1,357 shares during the quarter. Retirement Systems of Alabama’s holdings in Sempra were worth $12,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SRE. Greenwood Capital Associates LLC boosted its holdings in shares of Sempra by 1.2% during the 4th quarter. Greenwood Capital Associates LLC now owns 14,079 shares of the utilities provider’s stock valued at $1,235,000 after acquiring an additional 165 shares during the last quarter. Mather Group LLC. lifted its position in Sempra by 39.1% during the fourth quarter. Mather Group LLC. now owns 1,029 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 289 shares during the period. Longboard Asset Management LP purchased a new stake in Sempra in the fourth quarter worth approximately $213,000. abrdn plc grew its position in Sempra by 8.2% in the 4th quarter. abrdn plc now owns 328,840 shares of the utilities provider’s stock worth $28,716,000 after purchasing an additional 25,054 shares during the period. Finally, Jennison Associates LLC raised its stake in Sempra by 8.5% during the 4th quarter. Jennison Associates LLC now owns 1,997,542 shares of the utilities provider’s stock valued at $175,224,000 after buying an additional 156,666 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SRE has been the subject of several research analyst reports. Jefferies Financial Group started coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective for the company. Barclays reduced their price target on shares of Sempra from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Evercore ISI raised their price objective on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

Sempra Price Performance

NYSE:SRE opened at $81.94 on Friday. The business’s 50-day simple moving average is $85.64 and its two-hundred day simple moving average is $84.44. Sempra has a 52 week low of $66.40 and a 52 week high of $95.77. The stock has a market cap of $51.90 billion, a PE ratio of 18.05, a P/E/G ratio of 2.11 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89.

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

Insider Buying and Selling at Sempra

In other Sempra news, CEO Jeffrey W. Martin sold 49,737 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $82.94, for a total transaction of $4,125,186.78. Following the completion of the transaction, the chief executive officer now owns 2 shares of the company’s stock, valued at $165.88. This represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Trevor I. Mihalik sold 23,713 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total value of $2,207,443.17. Following the transaction, the vice president now owns 11,190 shares of the company’s stock, valued at approximately $1,041,677.10. The trade was a 67.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

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.