CCG Wealth Management LLC Purchases 4,104 Shares of Sempra (NYSE:SRE)

CCG Wealth Management LLC boosted its holdings in Sempra (NYSE:SRE) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,922 shares of the utilities provider’s stock after purchasing an additional 4,104 shares during the quarter. Sempra comprises approximately 2.2% of CCG Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. CCG Wealth Management LLC’s holdings in Sempra were worth $3,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Sempra by 12.1% during the 4th quarter. Wellington Management Group LLP now owns 27,123,899 shares of the utilities provider’s stock worth $2,026,969,000 after acquiring an additional 2,917,668 shares during the last quarter. Norges Bank purchased a new position in Sempra during the fourth quarter worth about $958,253,000. Clearbridge Investments LLC grew its position in Sempra by 1.9% in the 1st quarter. Clearbridge Investments LLC now owns 12,578,779 shares of the utilities provider’s stock worth $903,534,000 after purchasing an additional 233,819 shares in the last quarter. Franklin Resources Inc. increased its stake in Sempra by 7.7% in the 4th quarter. Franklin Resources Inc. now owns 7,077,642 shares of the utilities provider’s stock valued at $528,912,000 after buying an additional 507,622 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sempra by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,405,214 shares of the utilities provider’s stock worth $254,472,000 after buying an additional 86,577 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SRE shares. Evercore ISI lifted their price target on Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays increased their target price on shares of Sempra from $81.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. LADENBURG THALM/SH SH dropped their price objective on Sempra from $81.50 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Wells Fargo & Company increased their price objective on Sempra from $79.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, Mizuho boosted their price objective on Sempra from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.36.

Insider Buying and Selling

In other news, CAO Peter R. Wall sold 6,100 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total transaction of $457,927.00. Following the sale, the chief accounting officer now owns 14,751 shares in the company, valued at approximately $1,107,357.57. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by company insiders.

Sempra Price Performance

Sempra stock traded up $0.56 during midday trading on Friday, reaching $82.18. 3,181,664 shares of the stock were exchanged, compared to its average volume of 2,699,678. Sempra has a 52 week low of $63.75 and a 52 week high of $83.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46. The firm has a market cap of $52.03 billion, a PE ratio of 18.20, a PEG ratio of 2.86 and a beta of 0.74. The company’s fifty day moving average is $78.33 and its 200-day moving average is $74.67.

Sempra (NYSE:SRE) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a return on equity of 8.58% and a net margin of 22.31%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the company posted $0.94 EPS. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, sell-side analysts forecast that Sempra will post 4.79 EPS for the current year.

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.