Alliancebernstein L.P. Decreases Stake in Sempra Energy (SRE)
Alliancebernstein L.P. reduced its holdings in Sempra Energy (NYSE:SRE) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,290 shares of the utilities provider’s stock after selling 10,550 shares during the period. Alliancebernstein L.P.’s holdings in Sempra Energy were worth $43,013,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Sempra Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 20,631,499 shares of the utilities provider’s stock worth $2,205,919,000 after buying an additional 475,879 shares in the last quarter. Capital International Investors raised its stake 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. Parnassus Investments CA raised its stake in Sempra Energy by 22.1% during the fourth quarter. Parnassus Investments CA now owns 4,398,413 shares of the utilities provider’s stock worth $470,278,000 after purchasing an additional 796,352 shares during the period. Geode Capital Management LLC raised its stake in Sempra Energy by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,656,308 shares of the utilities provider’s stock worth $283,424,000 after purchasing an additional 85,865 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Sempra Energy by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,559,513 shares of the utilities provider’s stock worth $273,662,000 after purchasing an additional 199,223 shares during the period. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on SRE shares. Zacks Investment Research downgraded shares of Sempra Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Bank of America downgraded shares of Sempra Energy from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research note on Friday, December 22nd. Wells Fargo & Co reaffirmed a “buy” rating and set a $121.00 target price (down from $130.00) on shares of Sempra Energy in a research note on Wednesday, January 3rd. UBS Group started coverage on shares of Sempra Energy in a research note on Friday, February 2nd. They set a “buy” rating and a $124.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating and set a $122.00 target price on shares of Sempra Energy in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $119.80.
Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.82 billion. Sempra Energy had a net margin of 2.28% and a return on equity of 8.86%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. sell-side analysts anticipate that Sempra Energy will post 5.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Friday, March 23rd will be paid a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.17%. This is an increase from Sempra Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, March 22nd. Sempra Energy’s payout ratio is 73.77%.
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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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