Icon Wealth Advisors LLC Sells 27,843 Shares of Sempra (NYSE:SRE)

Icon Wealth Advisors LLC lessened its position in shares of Sempra (NYSE:SRE) by 98.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 404 shares of the utilities provider’s stock after selling 27,843 shares during the period. Icon Wealth Advisors LLC’s holdings in Sempra were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SRE. Perennial Investment Advisors LLC grew its stake in shares of Sempra by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,963 shares of the utilities provider’s stock valued at $377,000 after buying an additional 134 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Sempra by 2.8% in the second quarter. Transcend Capital Advisors LLC now owns 4,983 shares of the utilities provider’s stock worth $379,000 after acquiring an additional 136 shares in the last quarter. Marcum Wealth LLC grew its stake in Sempra by 3.5% in the second quarter. Marcum Wealth LLC now owns 4,019 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 137 shares during the period. Private Advisor Group LLC increased its holdings in shares of Sempra by 1.6% during the third quarter. Private Advisor Group LLC now owns 8,742 shares of the utilities provider’s stock valued at $731,000 after acquiring an additional 139 shares in the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in shares of Sempra by 4.0% during the second quarter. SeaCrest Wealth Management LLC now owns 3,794 shares of the utilities provider’s stock valued at $289,000 after acquiring an additional 147 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Insiders Place Their Bets

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 transaction of $2,207,443.17. Following the completion of the transaction, the vice president now directly owns 11,190 shares of the company’s stock, valued at approximately $1,041,677.10. This represents a 67.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Sempra Price Performance

Shares of NYSE SRE opened at $94.75 on Tuesday. The company has a market capitalization of $60.01 billion, a PE ratio of 20.87, a PEG ratio of 2.59 and a beta of 0.75. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average price is $85.88 and its 200-day moving average price is $80.86. Sempra has a twelve month low of $66.40 and a twelve month high of $95.77.

Sempra (NYSE:SRE) last posted its quarterly earnings data 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 business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, equities analysts anticipate that Sempra will post 4.77 EPS for the current year.

Sempra Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.62%. Sempra’s dividend payout ratio (DPR) is presently 54.63%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SRE shares. Morgan Stanley lifted their price target on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Sempra in a research report on Thursday, October 24th. They set a “buy” rating and a $98.00 target price for the company. Wells Fargo & Company upped their target price on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays lifted their price target on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets increased their price objective on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sempra currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

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.