Redwood Investment Management LLC Has $4.64 Million Stock Position in Sempra (NYSE:SRE)

Redwood Investment Management LLC lessened its holdings in shares of Sempra (NYSE:SRE - Free Report) by 26.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 55,717 shares of the utilities provider's stock after selling 19,931 shares during the period. Redwood Investment Management LLC's holdings in Sempra were worth $4,640,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SRE. Eastern Bank acquired a new position in shares of Sempra during the 3rd quarter worth about $28,000. Family Firm Inc. acquired a new position in shares of Sempra during the 2nd quarter worth about $30,000. Hollencrest Capital Management lifted 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 purchasing an additional 270 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Sempra during the 2nd quarter worth about $33,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Sempra during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 89.65% of the company's stock.

Wall Street Analyst Weigh In

SRE has been the subject of several research analyst reports. Barclays boosted their price objective on Sempra from $89.00 to $99.00 and gave the stock an "overweight" rating in a research report on Monday. Morgan Stanley upped their price target on Sempra from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on Sempra in a report on Thursday, October 24th. They issued a "buy" rating and a $98.00 price target for the company. BMO Capital Markets upped their price target on Sempra from $93.00 to $96.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Finally, Bank of America assumed coverage on Sempra in a report on Thursday, September 12th. They issued a "buy" rating and a $94.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.91.

Sempra Price Performance

Shares of SRE stock traded down $0.56 during trading hours on Thursday, hitting $90.94. The company had a trading volume of 3,910,534 shares, compared to its average volume of 2,923,493. The firm has a market capitalization of $57.60 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.52 and a beta of 0.77. Sempra has a 12 month low of $66.40 and a 12 month high of $95.77. The firm's fifty day moving average is $87.44 and its 200 day moving average is $81.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.47 and a current ratio of 0.52.

Sempra (NYSE:SRE - Get Free Report) last released 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 business had revenue of $2.78 billion for 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 firm's revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the company earned $1.08 earnings per share. On average, sell-side analysts predict that Sempra will post 4.77 EPS for the current fiscal year.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.73%. Sempra's dividend payout ratio (DPR) is presently 54.63%.

Insider Buying and Selling

In other Sempra news, VP Trevor I. Mihalik sold 23,713 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 11,190 shares in the company, valued at approximately $1,041,677.10. This trade represents a 67.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Sempra 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.