Pinnacle Financial Partners Inc Takes $243,000 Position in Sempra (NYSE:SRE)

Pinnacle Financial Partners Inc bought a new stake in shares of Sempra (NYSE:SRE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,765 shares of the utilities provider’s stock, valued at approximately $243,000.

Several other hedge funds have also recently made changes to their positions in SRE. FMR LLC boosted its position in shares of Sempra by 9.1% during the third quarter. FMR LLC now owns 18,978,605 shares of the utilities provider’s stock valued at $1,587,181,000 after purchasing an additional 1,582,653 shares in the last quarter. State Street Corp boosted its position in shares of Sempra by 4.9% during the third quarter. State Street Corp now owns 32,940,620 shares of the utilities provider’s stock valued at $2,774,974,000 after purchasing an additional 1,539,026 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Sempra by 201.2% during the third quarter. National Bank of Canada FI now owns 620,394 shares of the utilities provider’s stock valued at $51,882,000 after purchasing an additional 414,406 shares in the last quarter. Unigestion Holding SA bought a new stake in shares of Sempra during the third quarter valued at approximately $33,023,000. Finally, Bank of Montreal Can boosted its position in shares of Sempra by 38.3% during the third quarter. Bank of Montreal Can now owns 1,420,045 shares of the utilities provider’s stock valued at $118,219,000 after purchasing an additional 393,277 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SRE has been the topic of several research reports. Barclays dropped their price target on Sempra from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on Sempra from $87.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Morgan Stanley upgraded Sempra from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $98.00 in a research report on Friday, December 13th. Finally, Evercore ISI boosted their target price on Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $91.20.

Sempra Trading Up 1.3 %

Shares of NYSE:SRE opened at $87.11 on Monday. The company has a market cap of $55.18 billion, a P/E ratio of 19.19, a PEG ratio of 2.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.52 and a quick ratio of 0.47. Sempra has a 1 year low of $66.40 and a 1 year high of $95.77. The stock’s fifty day moving average price is $84.31 and its 200-day moving average price is $84.92.

Insider Activity

In other news, CEO Jeffrey W. Martin sold 49,737 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 2 shares of the company’s stock, valued at $165.88. This represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the senior vice president now directly owns 13,905 shares in the company, valued at approximately $1,139,236.65. The trade was a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.