Sempra Energy (NYSE:SRE) Stake Maintained by Perennial Advisors LLC
Perennial Advisors LLC held its position in Sempra Energy (NYSE:SRE) during the second quarter, Holdings Channel reports. The fund owned 1,058 shares of the utilities provider’s stock at the end of the second quarter. Perennial Advisors LLC’s holdings in Sempra Energy were worth $119,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Sempra Energy by 2,725.7% in the first quarter. BlackRock Inc. now owns 19,968,824 shares of the utilities provider’s stock valued at $2,206,556,000 after buying an additional 19,262,128 shares during the period. Vanguard Group Inc. increased its position in Sempra Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,366,648 shares of the utilities provider’s stock valued at $1,919,015,000 after buying an additional 596,498 shares during the period. Massachusetts Financial Services Co. MA increased its position in Sempra Energy by 17.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,581,705 shares of the utilities provider’s stock valued at $395,778,000 after buying an additional 544,234 shares during the period. First Trust Advisors LP increased its position in Sempra Energy by 256.7% in the first quarter. First Trust Advisors LP now owns 666,515 shares of the utilities provider’s stock valued at $73,650,000 after buying an additional 479,656 shares during the period. Finally, Wellington Management Group LLP increased its position in Sempra Energy by 4.9% in the first quarter. Wellington Management Group LLP now owns 8,542,152 shares of the utilities provider’s stock valued at $943,907,000 after buying an additional 400,464 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.
Shares of Sempra Energy (NYSE SRE) opened at 117.19 on Friday. The stock has a market cap of $29.39 billion, a PE ratio of 20.17 and a beta of 0.54. The company’s 50-day moving average is $113.12 and its 200 day moving average is $110.59. Sempra Energy has a 52 week low of $92.95 and a 52 week high of $117.97.
Sempra Energy (NYSE:SRE) last announced its earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Sempra Energy had a net margin of 13.77% and a return on equity of 9.06%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. Analysts forecast that Sempra Energy will post $5.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, July 7th were given a dividend of $0.8225 per share. This represents a $3.29 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, July 5th. Sempra Energy’s payout ratio is currently 48.74%.
SRE has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Sempra Energy from $129.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, May 8th. BidaskClub upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $115.00 price objective on shares of Sempra Energy in a research note on Wednesday, May 10th. Barclays PLC cut shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price objective for the company. in a research note on Thursday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Sempra Energy has an average rating of “Hold” and an average target price of $120.43.
In other Sempra Energy news, CEO Debra L. Reed sold 23,000 shares of Sempra Energy stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the completion of the transaction, the chief executive officer now owns 112,345 shares in the company, valued at $12,743,293.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
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