Sempra Energy (NYSE:SRE) Position Boosted by Westpac Banking Corp
Westpac Banking Corp lifted its stake in shares of Sempra Energy (NYSE:SRE) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,949 shares of the utilities provider’s stock after purchasing an additional 19,562 shares during the period. Westpac Banking Corp’s holdings in Sempra Energy were worth $32,704,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in Sempra Energy by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 3,521,752 shares of the utilities provider’s stock valued at $380,344,000 after acquiring an additional 253,809 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Sempra Energy in the first quarter valued at $628,000. Louisiana State Employees Retirement System boosted its holdings in Sempra Energy by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the utilities provider’s stock valued at $1,825,000 after purchasing an additional 100 shares during the period. Retirement Systems of Alabama boosted its holdings in Sempra Energy by 1.2% in the first quarter. Retirement Systems of Alabama now owns 127,604 shares of the utilities provider’s stock valued at $16,060,000 after purchasing an additional 1,540 shares during the period. Finally, WP Advisors LLC purchased a new position in Sempra Energy in the first quarter valued at $46,000. 97.11% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on SRE shares. Argus lifted their target price on Sempra Energy to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Barclays started coverage on Sempra Energy in a research report on Tuesday. They set an “equal weight” rating and a $142.00 target price on the stock. Morgan Stanley lifted their target price on Sempra Energy from $132.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 23rd. KeyCorp started coverage on Sempra Energy in a research report on Tuesday, June 4th. They set an “overweight” rating and a $151.00 target price on the stock. Finally, ValuEngine cut Sempra Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $142.38.
SRE stock traded up $0.49 during trading on Tuesday, hitting $137.63. The company had a trading volume of 47,445 shares, compared to its average volume of 1,505,789. The stock has a market cap of $37.80 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.94 and a beta of 0.45. Sempra Energy has a 1-year low of $104.88 and a 1-year high of $141.86. The company has a 50-day simple moving average of $138.20. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.31 and a current ratio of 0.34.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Friday, August 2nd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.09). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.32 billion. Sempra Energy had a net margin of 18.61% and a return on equity of 10.18%. During the same quarter last year, the firm earned $1.35 EPS. As a group, research analysts forecast that Sempra Energy will post 6.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, July 5th were given a $0.9675 dividend. This represents a $3.87 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, July 3rd. Sempra Energy’s dividend payout ratio (DPR) is presently 69.48%.
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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