On June 22, 2023, Baker Tilly Wealth Management LLC announced that it had increased its stake in Sempra (NYSE:SRE) by 44.9% during the first quarter of the year, according to disclosures made to the Securities and Exchange Commission (SEC). The firm acquired an additional 5,269 shares of the utilities provider’s stock, bringing their total ownership to 17,008 shares. As a result of these transactions, Baker Tilly’s holdings in Sempra were valued at $2,571,000 as of their most recent filing with the SEC.
Sempra recently released their earnings results on May 4th, revealing exceptional numbers that surpassed analyst expectations. In that reporting period alone, the company earned $2.92 per share – beating estimates by $0.16 – and had a return on equity of 10.28%. Net margin stood at an impressive 14.47%, while revenue for the quarter was reported at $6.56 billion compared to analyst predictions of $4.04 billion. By comparison, Sempra generated just $2.91 in earnings per share during the same quarter last year – indicating a significant increase in growth.
Currently operating as an energy infrastructure company based in both the United States and overseas markets, Sempra functions through four major segments: The San Diego Gas & Electric Company covering Southern Orange and San Diego counties; Southern California Gas Company; Sempra Texas Utilities; and finally Sempra Infrastructure.
As per sell-side analysts’ projections for FY2023 – providing that no significant changes occur in market conditions or any unforeseen events occur – it is anticipated that Sempra will post approximately $8.99 EPS for this fiscal year.
This news is sure to be welcomed among investors looking for a sound investment opportunity with a company possessing strong financials whose current trajectory appears to be enjoying sustained growth.
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Sempra Energy: A Steady and Reliable Performer in the Energy Sector with Increasing Institutional Investor Interest
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”SRE” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Sempra Energy is an energy infrastructure company that operates in both the United States and internationally. With a market capitalization of $46.73 billion, Sempra has four segments through which it provides a range of services to its customers: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure.
Sempra Energy’s stock opened at $148.50 on Thursday and has a twelve month low of $136.54 and a twelve month high of $176.47. The company boasts a quick ratio of 0.51 and a current ratio of 0.54, with Institutional investors and hedge funds owning 84.45% – an ownership footprint that is continuously evolving as more institutional investors make changes to their positions in SRE.
Old Second National Bank of Aurora recently boosted its position in shares of Sempra by 576.9% during the fourth quarter, now owning 176 shares valued at $27,000 after purchasing an additional 150 shares in the last quarter.
Similarly, Dark Forest Capital Management LP boosted its position substantially during Q4 by 567.9%. It now owns 187 shares worth $29,000 after purchasing an additional 159 shares during the same period.
Geneos Wealth Management Inc., on the other hand, boosted their position by only 76.3% but now owns 231 shares worth around $36,000 after purchasing another hundred in Q4.
Finally, Armstrong Advisory Group Inc., together with CoreCap Advisors LLC bought new stakes in shares of SRE during Q4 valued at about $38,000 each.
The business also recently announced a quarterly dividend payable on July 15th to shareholders who are recorded on July 5th worth $1.19 per share; given that this represents a dividend yield of over three percent this news is likely to increase investor interest further.
In terms of research analyst coverage for SRE, four have rated the stock as a hold rating while five have assigned a buy rating to the company’s stock. Based on data from Bloomberg.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.63.
In conclusion, Sempra Energy presents high-performing dividends and is becoming increasingly popular among institutional investors due to its strong positions in various segments of the energy sector. It remains a solid investment option for those looking to add a steady and reliable performer to their portfolios.
