Newport Trust Co Sells 137,878 Shares of Sempra Energy (SRE)

Newport Trust Co cut its holdings in shares of Sempra Energy (NYSE:SRE) by 1.4% during the 3rd quarter, Holdings Channel reports. The firm owned 9,563,870 shares of the utilities provider’s stock after selling 137,878 shares during the quarter. Sempra Energy comprises approximately 3.0% of Newport Trust Co’s holdings, making the stock its 6th biggest position. Newport Trust Co’s holdings in Sempra Energy were worth $1,087,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cornerstone Wealth Management LLC purchased a new position in shares of Sempra Energy during the 2nd quarter valued at $185,000. Squar Milner Financial Services LLC acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $105,000. Advisor Partners LLC lifted its stake in shares of Sempra Energy by 13.4% in the 2nd quarter. Advisor Partners LLC now owns 6,016 shares of the utilities provider’s stock valued at $699,000 after purchasing an additional 713 shares during the last quarter. Coastline Trust Co lifted its stake in shares of Sempra Energy by 44.5% in the 2nd quarter. Coastline Trust Co now owns 21,510 shares of the utilities provider’s stock valued at $2,498,000 after purchasing an additional 6,620 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $359,000. 90.58% of the stock is currently owned by institutional investors and hedge funds.

SRE has been the subject of several analyst reports. JPMorgan Chase & Co. set a $110.00 price objective on shares of Sempra Energy and gave the company a “hold” rating in a research note on Monday, July 30th. Bank of America boosted their target price on shares of Sempra Energy from $118.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Morgan Stanley set a $120.00 target price on shares of Sempra Energy and gave the stock an “equal weight” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co raised shares of Sempra Energy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $125.00 to $128.00 in a research report on Monday, August 20th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sempra Energy currently has an average rating of “Buy” and a consensus price target of $123.38.

In related news, VP Trevor I. Mihalik sold 4,744 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $116.97, for a total value of $554,905.68. Following the sale, the vice president now owns 15,719 shares of the company’s stock, valued at $1,838,651.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey W. Martin sold 5,705 shares of the company’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $117.58, for a total transaction of $670,793.90. Following the completion of the sale, the chief executive officer now directly owns 29,660 shares in the company, valued at approximately $3,487,422.80. The disclosure for this sale can be found here. Insiders have sold 37,749 shares of company stock valued at $4,425,260 in the last ninety days. 0.17% of the stock is owned by company insiders.

Shares of SRE opened at $112.01 on Friday. The stock has a market cap of $30.65 billion, a PE ratio of 20.67, a P/E/G ratio of 2.54 and a beta of 0.37. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.59 and a quick ratio of 0.55. Sempra Energy has a 52 week low of $100.49 and a 52 week high of $127.22.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.10. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.73 billion. Sempra Energy had a negative net margin of 3.33% and a positive return on equity of 9.33%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. Equities analysts predict that Sempra Energy will post 5.42 EPS for the current year.

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Sempra Energy Profile

Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.

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

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