Sempra Energy (SRE) Stake Cut by Hartford Investment Management Co.
Hartford Investment Management Co. reduced its position in shares of Sempra Energy (NYSE:SRE) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,402 shares of the utilities provider’s stock after selling 3,755 shares during the period. Hartford Investment Management Co.’s holdings in Sempra Energy were worth $6,232,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Sempra Energy by 1.9% in the third quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the utilities provider’s stock worth $1,704,000 after buying an additional 300 shares during the last quarter. Conning Inc. boosted its stake in Sempra Energy by 4.1% in the third quarter. Conning Inc. now owns 5,861 shares of the utilities provider’s stock worth $628,000 after buying an additional 230 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Sempra Energy during the third quarter worth approximately $606,000. Mechanics Bank Trust Department boosted its stake in Sempra Energy by 6.9% in the third quarter. Mechanics Bank Trust Department now owns 3,095 shares of the utilities provider’s stock worth $331,000 after buying an additional 200 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Sempra Energy by 2.0% in the third quarter. Great West Life Assurance Co. Can now owns 201,076 shares of the utilities provider’s stock worth $21,537,000 after buying an additional 3,875 shares in the last quarter. 79.34% of the stock is owned by institutional investors.
Sempra Energy (NYSE:SRE) traded up 0.67% during trading on Friday, reaching $111.50. 2,589,469 shares of the company’s stock traded hands. Sempra Energy has a 1-year low of $92.95 and a 1-year high of $114.66. The firm has a market capitalization of $27.97 billion, a PE ratio of 19.19 and a beta of 0.47. The firm has a 50 day moving average of $111.49 and a 200 day moving average of $105.73.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Tuesday, May 9th. The utilities provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.87 billion. Sempra Energy had a net margin of 13.24% and a return on equity of 9.41%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. Equities analysts forecast that Sempra Energy will post $5.10 EPS for the current year.
SRE has been the subject of a number of research reports. Barclays PLC boosted their target price on shares of Sempra Energy from $108.00 to $113.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Zacks Investment Research upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Thursday, February 9th. Morgan Stanley lowered their price target on shares of Sempra Energy from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Friday, April 28th. Finally, BMO Capital Markets restated a “hold” rating and set a $115.00 price target on shares of Sempra Energy in a research report on Wednesday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $116.58.
In other Sempra Energy news, Director William G. Ouchi sold 5,000 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $108.92, for a total value of $544,600.00. Following the sale, the director now directly owns 21,247 shares in the company, valued at $2,314,223.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William P. Rutledge sold 15,262 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $109.69, for a total transaction of $1,674,088.78. Following the completion of the sale, the director now owns 10,846 shares in the company, valued at $1,189,697.74. The disclosure for this sale can be found here. Corporate insiders own 0.16% 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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