Old Port Advisors Lowers Holdings in Sempra Energy (NYSE:SRE)
Old Port Advisors decreased its position in Sempra Energy (NYSE:SRE) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,829 shares of the utilities provider’s stock after selling 110 shares during the period. Old Port Advisors’ holdings in Sempra Energy were worth $711,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of Sempra Energy in the second quarter valued at approximately $25,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Sempra Energy in the second quarter valued at approximately $27,000. Westside Investment Management Inc. purchased a new stake in shares of Sempra Energy in the second quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new stake in shares of Sempra Energy in the second quarter valued at approximately $47,000. Finally, Quantamental Technologies LLC purchased a new stake in shares of Sempra Energy in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 92.72% of the company’s stock.
A number of brokerages recently issued reports on SRE. Morgan Stanley boosted their price target on Sempra Energy from $147.00 to $151.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Barclays initiated coverage on Sempra Energy in a report on Tuesday, August 13th. They set an “equal weight” rating and a $142.00 target price for the company. Wells Fargo & Co upped their target price on Sempra Energy from $153.00 to $161.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. ValuEngine lowered Sempra Energy from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Argus upped their target price on Sempra Energy from $150.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Sempra Energy currently has an average rating of “Hold” and a consensus target price of $149.44.
Sempra Energy (NYSE:SRE) last posted its earnings results on Friday, August 2nd. The utilities provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.09). The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Sempra Energy had a return on equity of 10.18% and a net margin of 18.61%. During the same quarter in the prior year, the company earned $1.35 EPS. Sell-side analysts predict that Sempra Energy will post 5.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 20th will be given a dividend of $0.9675 per share. This represents a $3.87 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, September 19th. Sempra Energy’s payout ratio is presently 69.48%.
In other news, COO Joseph A. Householder sold 14,304 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $143.21, for a total transaction of $2,048,475.84. Following the transaction, the chief operating officer now directly owns 45,991 shares of the company’s stock, valued at $6,586,371.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.
About Sempra Energy
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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