Sempra Energy (NYSE:SRE) Shares Purchased by Park Avenue Securities LLC

Posted by Defense World Staff on Apr 5th, 2023

Park Avenue Securities LLC raised its position in shares of Sempra Energy (NYSE:SRE – Get Rating) by 7.7% in the fourth quarter, HoldingsChannel reports. The firm owned 9,801 shares of the utilities provider’s stock after acquiring an additional 703 shares during the period. Park Avenue Securities LLC’s holdings in Sempra Energy were worth $1,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Sempra Energy during the 4th quarter valued at about $175,000. Xponance Inc. raised its position in shares of Sempra Energy by 20.0% during the 4th quarter. Xponance Inc. now owns 36,523 shares of the utilities provider’s stock worth $5,644,000 after buying an additional 6,076 shares in the last quarter. CAPROCK Group Inc. raised its position in shares of Sempra Energy by 2.5% during the 4th quarter. CAPROCK Group Inc. now owns 8,353 shares of the utilities provider’s stock worth $1,301,000 after buying an additional 202 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Sempra Energy by 42.5% during the 4th quarter. DAVENPORT & Co LLC now owns 3,155 shares of the utilities provider’s stock worth $488,000 after buying an additional 941 shares in the last quarter. Finally, Diligent Investors LLC bought a new stake in shares of Sempra Energy during the 4th quarter worth about $377,000. 84.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Trevor I. Mihalik sold 2,306 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $148.50, for a total transaction of $342,441.00. Following the sale, the chief financial officer now owns 21,362 shares in the company, valued at $3,172,257. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Trevor I. Mihalik sold 2,306 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $148.50, for a total transaction of $342,441.00. Following the sale, the chief financial officer now owns 21,362 shares in the company, valued at $3,172,257. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Peter R. Wall sold 2,940 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $161.16, for a total transaction of $473,810.40. Following the sale, the chief accounting officer now owns 5,681 shares in the company, valued at approximately $915,549.96. The disclosure for this sale can be found here. Insiders have sold 52,504 shares of company stock worth $8,045,547 over the last 90 days. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on SRE shares. StockNews.com started coverage on shares of Sempra Energy in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Wells Fargo & Company dropped their price target on shares of Sempra Energy from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. BMO Capital Markets dropped their price target on shares of Sempra Energy from $169.00 to $166.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Morgan Stanley dropped their price target on shares of Sempra Energy from $158.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 21st. Finally, Bank of America dropped their price target on shares of Sempra Energy from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $168.45.

Sempra Energy Stock Up 0.5 %

NYSE SRE opened at $150.26 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.60 and a quick ratio of 0.56. The company’s 50 day simple moving average is $152.15 and its 200 day simple moving average is $154.65. Sempra Energy has a 12 month low of $136.54 and a 12 month high of $176.47. The company has a market capitalization of $47.28 billion, a P/E ratio of 22.70, a PEG ratio of 3.11 and a beta of 0.73.

Sempra Energy (NYSE:SRE – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.29. Sempra Energy had a net margin of 14.74% and a return on equity of 10.53%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. Equities research analysts expect that Sempra Energy will post 8.95 earnings per share for the current fiscal year.

Sempra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Wednesday, March 22nd will be issued a dividend of $1.19 per share. The ex-dividend date is Tuesday, March 21st. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.17%. This is a positive change from Sempra Energy’s previous quarterly dividend of $1.15. Sempra Energy’s payout ratio is currently 71.90%.

About Sempra Energy

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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.