Power Corp of Canada Acquires Shares of 2,790 Sempra Energy (NYSE:SRE)

Posted by Defense World Staff on Mar 16th, 2023

Power Corp of Canada bought a new position in shares of Sempra Energy (NYSE:SRE – Get Rating) during the third quarter, according to its most recent filing with the SEC. The fund bought 2,790 shares of the utilities provider’s stock, valued at approximately $418,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SRE. HB Wealth Management LLC lifted its position in Sempra Energy by 8.1% in the third quarter. HB Wealth Management LLC now owns 2,114 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 158 shares during the last quarter. Aviva PLC raised its holdings in shares of Sempra Energy by 8.7% during the third quarter. Aviva PLC now owns 153,635 shares of the utilities provider’s stock valued at $23,039,000 after acquiring an additional 12,260 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Sempra Energy by 6.8% during the third quarter. Fulton Bank N.A. now owns 3,120 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 199 shares in the last quarter. Jump Financial LLC bought a new position in shares of Sempra Energy during the third quarter valued at approximately $411,000. Finally, Checchi Capital Advisers LLC raised its holdings in shares of Sempra Energy by 12.7% during the second quarter. Checchi Capital Advisers LLC now owns 2,825 shares of the utilities provider’s stock valued at $468,000 after acquiring an additional 318 shares in the last quarter. 84.75% of the stock is currently owned by institutional investors.

Insider Transactions at Sempra Energy

In other news, CFO Trevor I. Mihalik sold 2,306 shares of Sempra Energy stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $148.50, for a total value of $342,441.00. Following the completion of the transaction, the chief financial officer now owns 21,362 shares in the company, valued at approximately $3,172,257. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Trevor I. Mihalik sold 2,306 shares of Sempra Energy stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $148.50, for a total value of $342,441.00. Following the completion of the transaction, the chief financial officer now owns 21,362 shares in the company, valued at approximately $3,172,257. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey W. Martin sold 10,413 shares of Sempra Energy stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $150.99, for a total value of $1,572,258.87. Following the completion of the transaction, the chief executive officer now owns 19,261 shares of the company’s stock, valued at approximately $2,908,218.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,244 shares of company stock worth $5,231,853. 0.14% of the stock is currently owned by company insiders.

Sempra Energy Stock Down 0.3 %

SRE stock opened at $146.36 on Thursday. Sempra Energy has a fifty-two week low of $136.54 and a fifty-two week high of $176.47. The business’s 50-day moving average is $155.47 and its two-hundred day moving average is $157.05. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.56 and a current ratio of 0.60. The company has a market cap of $46.04 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 2.82 and a beta of 0.72.

Sempra Energy (NYSE:SRE – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The utilities provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.06 by $0.29. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.79 billion. Sempra Energy had a return on equity of 10.53% and a net margin of 14.74%. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 earnings per share. As a group, analysts forecast that Sempra Energy will post 8.96 earnings per share for the current year.

Sempra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Shareholders of record on Wednesday, March 22nd will be issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, March 21st. This is a boost from Sempra Energy’s previous quarterly dividend of $1.15. Sempra Energy’s dividend payout ratio (DPR) is currently 69.18%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BMO Capital Markets reduced their price target on Sempra Energy from $169.00 to $166.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 1st. Morgan Stanley cut their target price on Sempra Energy from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. Wells Fargo & Company cut their target price on Sempra Energy from $180.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 1st. StockNews.com initiated coverage on Sempra Energy in a research note on Thursday. They issued a “hold” rating on the stock. Finally, TheStreet raised Sempra Energy from a “c+” rating to a “b-” rating in a research report on Friday, December 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.60.

Sempra Energy Company Profile

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Sempra Energy is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: San Diego Gas and Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Texas Utilities, Sempra Mexico, and Sempra LNG.

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Institutional Ownership by Quarter for Sempra Energy (NYSE:SRE)

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