State of Alaska Department of Revenue Has $6.33 Million Stake in Sempra (NYSE:SRE)

State of Alaska Department of Revenue reduced its position in shares of Sempra (NYSE:SRE) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,213 shares of the utilities provider’s stock after selling 2,078 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sempra were worth $6,334,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Unigestion Holding SA acquired a new position in Sempra during the third quarter valued at $33,023,000. Geneos Wealth Management Inc. grew its stake in Sempra by 633.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 29,917 shares of the utilities provider’s stock valued at $2,624,000 after acquiring an additional 25,838 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Sempra by 8.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,428,132 shares of the utilities provider’s stock valued at $286,695,000 after purchasing an additional 278,183 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Sempra by 1.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 357,107 shares of the utilities provider’s stock valued at $29,865,000 after purchasing an additional 6,709 shares during the period. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Sempra in the third quarter worth approximately $675,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SRE. Morgan Stanley upgraded shares of Sempra from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $98.00 in a research note on Friday, December 13th. Evercore ISI upped their price target on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. BMO Capital Markets lifted their price objective on Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on Sempra in a research note on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.20.

Insider Buying and Selling

In related news, CEO Jeffrey W. Martin sold 49,737 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was 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 approximately $165.88. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Trevor I. Mihalik sold 23,713 shares of the stock in a transaction that occurred on 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 sale, 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. 0.27% of the stock is owned by insiders.

Sempra Stock Performance

SRE opened at $81.94 on Friday. The stock has a 50-day moving average of $85.64 and a 200-day moving average of $84.44. 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 has a 52-week low of $66.40 and a 52-week high of $95.77. The company has a market cap of $51.90 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Sempra (NYSE:SRE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 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 company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. As a group, equities research analysts forecast that Sempra will post 4.77 earnings per share for the current fiscal year.

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.