Wells Fargo & Company MN Grows Holdings in Sempra Energy (SRE)
Wells Fargo & Company MN raised its position in shares of Sempra Energy (NYSE:SRE) by 13.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,530 shares of the utilities provider’s stock after purchasing an additional 46,586 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Sempra Energy worth $44,032,000 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. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Sempra Energy by 27.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after buying an additional 202 shares during the period. Guardian Life Insurance Co. of America increased its holdings in Sempra Energy by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 6 shares during the period. Grove Bank & Trust increased its holdings in Sempra Energy by 38.3% during the 2nd quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 286 shares during the period. Parallel Advisors LLC increased its holdings in Sempra Energy by 49.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 436 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in Sempra Energy during the 1st quarter valued at about $170,000. Institutional investors and hedge funds own 80.80% of the company’s stock.
Several analysts have weighed in on SRE shares. Morgan Stanley lifted their price objective on Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. BidaskClub raised Sempra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research cut Sempra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $117.00 price target on shares of Sempra Energy in a research report on Monday, July 24th. Finally, Barclays PLC cut 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. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $121.00.
Shares of Sempra Energy (NYSE SRE) opened at 117.66 on Tuesday. The stock has a market capitalization of $29.54 billion, a price-to-earnings ratio of 17.40 and a beta of 0.55. Sempra Energy has a 52-week low of $92.95 and a 52-week high of $120.17. The company has a 50-day moving average of $117.48 and a 200-day moving average of $113.69.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $0.79 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Sempra Energy will post $5.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 22nd will be paid a dividend of $0.8225 per share. This represents a $3.29 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, September 21st. Sempra Energy’s payout ratio is currently 48.74%.
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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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