Mizuho Securities USA LLC Reduces Stake in Sempra (NYSE:SRE)

Mizuho Securities USA LLC trimmed its position in shares of Sempra (NYSE:SRE) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,056 shares of the utilities provider’s stock after selling 7,735 shares during the quarter. Mizuho Securities USA LLC’s holdings in Sempra were worth $3,434,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SRE. Eastern Bank purchased a new stake in shares of Sempra in the 3rd quarter worth about $28,000. Hollencrest Capital Management raised its position in Sempra by 250.0% during the third quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 270 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Sempra in the second quarter valued at about $30,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Sempra in the second quarter valued at approximately $33,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Sempra during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Sempra Stock Performance

NYSE:SRE opened at $94.27 on Friday. The company has a market cap of $59.71 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.60 and a beta of 0.75. The firm’s 50 day moving average is $85.66 and its two-hundred day moving average is $80.64. Sempra has a fifty-two week low of $66.40 and a fifty-two week high of $95.29. 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 for the quarter, missing the consensus estimate of $1.05 by ($0.16). Sempra had a return on equity of 8.06% and a net margin of 22.63%. The firm had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Analysts expect that Sempra will post 4.77 EPS for the current year.

Sempra Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, December 5th. Sempra’s payout ratio is currently 54.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group began coverage on Sempra in a report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price on the stock. Bank of America started coverage on Sempra in a research note on Thursday, September 12th. They set a “buy” rating and a $94.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Morgan Stanley raised their price target on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Insider Buying and Selling

In other Sempra news, VP Trevor I. Mihalik sold 23,713 shares of Sempra stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the transaction, the vice president now directly owns 11,190 shares of the company’s stock, valued at $1,041,677.10. The trade was a 67.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% 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.