Sempra Energy (SRE) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC decreased its stake in Sempra Energy (NYSE:SRE) by 12.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,115 shares of the utilities provider’s stock after selling 72,602 shares during the period. Neuberger Berman Group LLC owned about 0.20% of Sempra Energy worth $56,050,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRE. Guardian Life Insurance Co. of America raised its position in Sempra Energy by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock valued at $107,000 after buying an additional 6 shares during the period. Grove Bank & Trust raised its position in Sempra Energy by 38.3% in the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock valued at $116,000 after buying an additional 286 shares during the period. Parallel Advisors LLC raised its position in Sempra Energy by 49.7% in the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock valued at $148,000 after buying an additional 436 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Sempra Energy during the first quarter valued at approximately $170,000. Finally, Financial Architects Inc raised its position in Sempra Energy by 14.3% in the second quarter. Financial Architects Inc now owns 1,553 shares of the utilities provider’s stock valued at $175,000 after buying an additional 194 shares during the period. 81.19% of the stock is currently owned by institutional investors.
Sempra Energy (SRE) opened at 117.94 on Friday. Sempra Energy has a 52 week low of $92.95 and a 52 week high of $119.66. The stock has a market capitalization of $29.61 billion, a P/E ratio of 17.44 and a beta of 0.55. The firm has a 50 day moving average price of $115.84 and a 200 day moving average price of $112.82.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Equities research analysts predict that Sempra Energy will post $5.22 earnings per share for the current year.
Several research firms have commented on SRE. BidaskClub raised Sempra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered Sempra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Morgan Stanley lifted their price target on Sempra Energy from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Barclays PLC lowered Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price target on the stock. in a research report on Thursday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $117.00 price target on shares of Sempra Energy in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sempra Energy currently has an average rating of “Buy” and an average price target of $121.00.
About Sempra Energy
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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