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.

TRADEMARK VIOLATION WARNING: This piece of content was first published by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another site, it was stolen and reposted in violation of US and international copyright law. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/12/15/laffer-investments-cuts-holdings-in-sempra-energy-sre.html.

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.

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

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.