Lazard Asset Management LLC Cuts Stock Holdings in Sempra (NYSE:SRE)

Lazard Asset Management LLC trimmed its position in shares of Sempra (NYSE:SRE - Free Report) by 56.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,662 shares of the utilities provider's stock after selling 27,771 shares during the quarter. Lazard Asset Management LLC's holdings in Sempra were worth $1,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Sempra during the fourth quarter worth about $26,000. Prudent Man Investment Management Inc. acquired a new position in Sempra during the fourth quarter worth about $26,000. Synergy Investment Management LLC acquired a new position in Sempra during the fourth quarter worth about $29,000. TCTC Holdings LLC grew its position in Sempra by 265.2% during the fourth quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider's stock worth $29,000 after buying an additional 244 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Sempra during the fourth quarter worth about $29,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Trading Up 1.3%

Shares of SRE traded up $0.96 on Friday, hitting $77.71. 3,272,360 shares of the stock traded hands, compared to its average volume of 3,747,338. 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 firm has a market capitalization of $50.66 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.19 and a beta of 0.63. The stock's 50 day moving average is $72.30 and its two-hundred day moving average is $80.07. Sempra has a 1 year low of $61.90 and a 1 year high of $95.77.

Sempra (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.90 billion. Sempra had a net margin of 22.63% and a return on equity of 8.06%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. As a group, sell-side analysts predict that Sempra will post 4.76 earnings per share for the current year.

Sempra Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, June 26th will be paid a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Thursday, June 26th. Sempra's payout ratio is 56.70%.

Analysts Set New Price Targets

Several brokerages have weighed in on SRE. The Goldman Sachs Group lowered shares of Sempra from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $99.00 to $76.00 in a research report on Wednesday, February 26th. Mizuho lowered their target price on shares of Sempra from $92.00 to $76.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. UBS Group lowered shares of Sempra from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $95.00 to $78.00 in a research report on Wednesday, February 26th. Argus downgraded shares of Sempra from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, BMO Capital Markets upped their price target on shares of Sempra from $78.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Sempra presently has an average rating of "Moderate Buy" and an average target price of $80.62.

Insider Activity at Sempra

In related news, Director Michael N. Mears purchased 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $67.70 per share, with a total value of $67,700.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $338,500. This trade represents a 25.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cynthia J. Warner purchased 700 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $70.65 per share, for a total transaction of $49,455.00. Following the purchase, the director now owns 8,759 shares of the company's stock, valued at $618,823.35. This trade represents a 8.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 9,319 shares of company stock valued at $651,676. Company insiders own 0.27% 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.