Westpac Banking Corp Increases Stock Holdings in Sempra Energy (NYSE:SRE)
Westpac Banking Corp raised its stake in Sempra Energy (NYSE:SRE) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,072 shares of the utilities provider’s stock after purchasing an additional 6,485 shares during the period. Westpac Banking Corp’s holdings in Sempra Energy were worth $5,808,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Hall Laurie J Trustee purchased a new position in Sempra Energy in the third quarter valued at approximately $31,000. Atlas Private Wealth Management increased its stake in Sempra Energy by 46.5% in the third quarter. Atlas Private Wealth Management now owns 293 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 93 shares during the last quarter. Planned Solutions Inc. purchased a new position in Sempra Energy in the third quarter valued at approximately $37,000. CX Institutional increased its stake in Sempra Energy by 125.6% in the third quarter. CX Institutional now owns 370 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 206 shares during the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Sempra Energy by 105.3% in the third quarter. Flagship Harbor Advisors LLC now owns 390 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 200 shares during the period. Institutional investors own 84.97% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Sempra Energy from $146.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley increased their price objective on Sempra Energy from $147.00 to $152.00 and gave the company an “equal weight” rating in a report on Tuesday, November 17th. KeyCorp increased their price objective on Sempra Energy from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Bank of America increased their price objective on Sempra Energy from $146.00 to $149.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho decreased their price objective on Sempra Energy from $137.00 to $119.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $144.60.
Shares of SRE stock opened at $130.42 on Friday. Sempra Energy has a fifty-two week low of $88.00 and a fifty-two week high of $161.87. The stock has a market cap of $37.62 billion, a P/E ratio of 8.98, a P/E/G ratio of 2.27 and a beta of 0.69. The business has a fifty day simple moving average of $128.25 and a 200-day simple moving average of $124.48. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 0.92.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Thursday, November 5th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.21). Sempra Energy had a net margin of 38.49% and a return on equity of 11.47%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the business earned $1.50 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sempra Energy will post 7.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Friday, December 18th will be given a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, December 17th. Sempra Energy’s dividend payout ratio is presently 61.65%.
Sempra Energy Company Profile
Sempra Energy operates as an energy-services holding company in the United States and internationally. The company's San Diego Gas & Electric Company segment generates, transmits, and distributes electricity; and supplies natural gas. It provides electric services to a population of approximately 3.7 million and natural gas services to approximately 3.4 million of that population covering an area of 4,100 square miles.
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