Magellan Asset Management Ltd Has $233.34 Million Position in Sempra (NYSE:SRE)

Magellan Asset Management Ltd trimmed its stake in Sempra (NYSE:SRE - Free Report) by 13.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,660,091 shares of the utilities provider's stock after selling 420,635 shares during the period. Sempra comprises 2.6% of Magellan Asset Management Ltd's investment portfolio, making the stock its 18th biggest holding. Magellan Asset Management Ltd owned approximately 0.42% of Sempra worth $233,343,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its stake in shares of Sempra by 5.4% in the fourth quarter. Lindbrook Capital LLC now owns 2,410 shares of the utilities provider's stock valued at $211,000 after purchasing an additional 124 shares during the period. Pinnacle West Asset Management Inc. boosted its holdings in Sempra by 5.1% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 2,585 shares of the utilities provider's stock valued at $227,000 after purchasing an additional 125 shares during the period. Avantax Planning Partners Inc. grew its stake in Sempra by 2.0% during the 4th quarter. Avantax Planning Partners Inc. now owns 7,423 shares of the utilities provider's stock worth $651,000 after purchasing an additional 147 shares in the last quarter. LVM Capital Management Ltd. MI grew its stake in Sempra by 2.4% during the 4th quarter. LVM Capital Management Ltd. MI now owns 6,677 shares of the utilities provider's stock worth $586,000 after purchasing an additional 155 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Sempra by 5.2% during the fourth quarter. IFP Advisors Inc now owns 3,210 shares of the utilities provider's stock worth $295,000 after buying an additional 159 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

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Sempra Stock Up 2.6 %

Shares of Sempra stock traded up $1.69 during trading hours on Tuesday, hitting $65.60. 1,832,020 shares of the company's stock traded hands, compared to its average volume of 3,637,212. The company has a market cap of $42.77 billion, a PE ratio of 14.42, a PEG ratio of 2.19 and a beta of 0.65. Sempra has a twelve month low of $61.90 and a twelve month high of $95.77. 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 50 day simple moving average of $75.51 and a 200-day simple moving average of $82.57.

Sempra (NYSE:SRE - Get Free Report) last released its earnings results on Tuesday, February 25th. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $4.73 billion. Sempra had a return on equity of 8.06% and a net margin of 22.63%. The business's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. Equities research analysts anticipate that Sempra will post 4.76 earnings per share for the current fiscal year.

Sempra Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Thursday, March 20th will be given a dividend of $0.645 per share. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.93%. This is a boost from Sempra's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, March 20th. Sempra's dividend payout ratio is presently 58.37%.

Insider Transactions at Sempra

In other news, CEO Jeffrey W. Martin sold 49,737 shares of the firm's 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 in the company, valued at approximately $165.88. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Alexander Lisa Larroque sold 2,755 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $81.93, for a total value of $225,717.15. Following the completion of the transaction, the senior vice president now directly owns 13,905 shares in the company, valued at $1,139,236.65. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 9,319 shares of company stock worth $651,676 and sold 57,309 shares worth $4,694,019. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lowered shares of Sempra from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $95.00 to $72.00 in a research note on Thursday, February 27th. Wells Fargo & Company lowered their target price on Sempra from $88.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. UBS Group cut shares of Sempra from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $95.00 to $78.00 in a research note on Wednesday, February 26th. Guggenheim lowered their target price on shares of Sempra from $95.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley raised their price objective on shares of Sempra from $85.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.33.

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.