FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in Sempra Energy (NYSE:SRE) by 31.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,178 shares of the utilities provider’s stock after purchasing an additional 1,000 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Sempra Energy were worth $490,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SRE. Janus Henderson Group PLC grew its position in shares of Sempra Energy by 51.7% in the first quarter. Janus Henderson Group PLC now owns 2,034,874 shares of the utilities provider’s stock valued at $229,908,000 after purchasing an additional 693,442 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Sempra Energy by 54.8% in the first quarter. 1832 Asset Management L.P. now owns 1,751,126 shares of the utilities provider’s stock valued at $208,711,000 after purchasing an additional 619,783 shares during the last quarter. Pictet Asset Management Ltd. grew its position in Sempra Energy by 18.6% during the first quarter. Pictet Asset Management Ltd. now owns 3,679,084 shares of the utilities provider’s stock worth $415,700,000 after buying an additional 576,722 shares in the last quarter. Prudential PLC grew its position in Sempra Energy by 20,051.5% during the first quarter. Prudential PLC now owns 561,218 shares of the utilities provider’s stock worth $63,412,000 after buying an additional 558,433 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Sempra Energy by 19.7% during the first quarter. Bank of New York Mellon Corp now owns 2,767,694 shares of the utilities provider’s stock worth $312,723,000 after buying an additional 455,273 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
SRE has been the topic of a number of analyst reports. KeyCorp upgraded Sempra Energy from a “sector weight” rating to an “overweight” rating and set a $141.00 target price for the company in a research note on Tuesday, July 21st. BMO Capital Markets upped their target price on Sempra Energy from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 5th. Barclays restated a “buy” rating and set a $147.00 target price on shares of Sempra Energy in a research note on Wednesday, April 22nd. Wells Fargo & Co upped their target price on Sempra Energy from $125.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, April 13th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Sempra Energy in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $146.13.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Monday, May 4th. The utilities provider reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.26 by $0.82. Sempra Energy had a return on equity of 11.30% and a net margin of 22.32%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period last year, the business posted $1.92 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Sempra Energy will post 7.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th were issued a dividend of $1.045 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $4.18 dividend on an annualized basis and a yield of 3.36%. Sempra Energy’s payout ratio is currently 61.65%.
In other news, CFO Trevor I. Mihalik sold 10,281 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $124.16, for a total value of $1,276,488.96. Following the completion of the sale, the chief financial officer now directly owns 15,464 shares in the company, valued at approximately $1,920,010.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
Sempra Energy Company 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 generates, transmits, and distributes electricity; and supplies natural gas.
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