Laffer Investments Cuts Holdings in Sempra Energy (SRE)
Laffer Investments lessened its holdings in shares of Sempra Energy (NYSE:SRE) by 6.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,125 shares of the utilities provider’s stock after selling 1,255 shares during the quarter. Laffer Investments’ holdings in Sempra Energy were worth $2,069,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its position in Sempra Energy by 0.3% during the second quarter. BlackRock Inc. now owns 20,037,400 shares of the utilities provider’s stock worth $2,259,219,000 after purchasing an additional 68,576 shares during the period. Vanguard Group Inc. boosted its position in Sempra Energy by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,796,341 shares of the utilities provider’s stock worth $2,006,537,000 after purchasing an additional 429,693 shares during the period. Capital International Investors boosted its position in Sempra Energy by 14.8% during the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock worth $1,308,797,000 after purchasing an additional 1,474,282 shares during the period. JPMorgan Chase & Co. boosted its position in Sempra Energy by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock worth $454,591,000 after purchasing an additional 80,131 shares during the period. Finally, Parnassus Investments CA boosted its position in Sempra Energy by 8.0% during the third quarter. Parnassus Investments CA now owns 3,602,061 shares of the utilities provider’s stock worth $411,103,000 after purchasing an additional 265,851 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.
A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. J P Morgan Chase & Co cut their price objective on shares of Sempra Energy from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. Goldman Sachs Group upgraded shares of Sempra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $129.00 in a research report on Wednesday, October 11th. Wells Fargo & Company cut their price objective on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. Finally, Bank of America assumed coverage on shares of Sempra Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $125.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $124.56.
Sempra Energy (NYSE SRE) traded up $0.54 during mid-day trading on Friday, hitting $115.78. 1,191,700 shares of the stock were exchanged, compared to its average volume of 1,138,884. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.40 and a quick ratio of 0.36. Sempra Energy has a one year low of $99.48 and a one year high of $122.97. The company has a market capitalization of $28,934.18, a price-to-earnings ratio of 21.34, a P/E/G ratio of 2.47 and a beta of 0.61.
Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the business earned $1.02 earnings per share. Sempra Energy’s revenue was up 5.7% compared to the same quarter last year. analysts anticipate that Sempra Energy will post 5.24 EPS for the current fiscal year.
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Sempra Energy 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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