CoreCap Advisors LLC bought a new position in Sempra Energy (NYSE:SRE – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 244 shares of the utilities provider’s stock, valued at approximately $38,000.
Other hedge funds have also added to or reduced their stakes in the company. EWG Elevate Inc. purchased a new stake in Sempra Energy during the 4th quarter valued at $40,000. Power Corp of Canada bought a new position in shares of Sempra Energy during the third quarter valued at approximately $418,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in Sempra Energy by 9.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,348 shares of the utilities provider’s stock worth $826,000 after acquiring an additional 479 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Sempra Energy by 6.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 39,756 shares of the utilities provider’s stock valued at $6,144,000 after acquiring an additional 2,321 shares in the last quarter. Finally, Aviva PLC increased its position in Sempra Energy by 8.7% during the 3rd quarter. Aviva PLC now owns 153,635 shares of the utilities provider’s stock valued at $23,039,000 after purchasing an additional 12,260 shares during the period. 84.75% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently issued reports on SRE shares. BMO Capital Markets reduced 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. StockNews.com initiated coverage on Sempra Energy in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company dropped their price target on Sempra Energy from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. Morgan Stanley boosted their target price on shares of Sempra Energy from $150.00 to $164.00 and gave the company an “equal weight” rating in a report on Thursday, April 20th. Finally, Bank of America reduced their target price 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sempra Energy has an average rating of “Moderate Buy” and an average target price of $167.25.
Sempra Energy Stock Performance
Sempra Energy (NYSE:SRE – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.16. Sempra Energy had a net margin of 14.47% and a return on equity of 10.28%. The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the company posted $2.91 earnings per share. The business’s revenue for the quarter was up 71.7% on a year-over-year basis. Sell-side analysts expect that Sempra Energy will post 8.99 EPS for the current fiscal year.
Sempra Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Wednesday, July 5th will be given a dividend of $1.19 per share. The ex-dividend date is Monday, July 3rd. This represents a $4.76 annualized dividend and a dividend yield of 3.29%. Sempra Energy’s dividend payout ratio (DPR) is presently 61.34%.
Insider Buying and Selling
In other Sempra Energy news, CEO Jeffrey W. Martin sold 19,260 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $146.09, for a total transaction of $2,813,693.40. Following the transaction, the chief executive officer now owns 1 shares in the company, valued at approximately $146.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.
Sempra Energy Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Sempra Energy (SRE)
- Trading Channel Breakout in Lululemon Brought by Earnings
- What Should Investors Make of These 3 Dividend Cuts?
- Constellation Brands Taps into Growth: Analysts Bullish on Stock
- CrowdStrike: Another Tech Stock to Buy on the Dip
- Salesforce: Time to Snap it Up as the Market Buys the Dip?
Receive News & Ratings for Sempra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra Energy and related companies with MarketBeat.com's FREE daily email newsletter.
