Sempra Energy $SRE Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Sempra Energy (NYSE:SRE) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,159,207 shares of the utilities provider’s stock after purchasing an additional 60,247 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of Sempra Energy worth $464,225,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Howard Wealth Management LLC purchased a new stake in Sempra Energy in the third quarter valued at approximately $216,000. Truist Financial Corp lifted its stake in Sempra Energy by 1.7% during the 3rd quarter. Truist Financial Corp now owns 72,052 shares of the utilities provider’s stock valued at $6,483,000 after acquiring an additional 1,187 shares during the period. Stablepoint Partners LLC boosted its holdings in shares of Sempra Energy by 7.2% in the 3rd quarter. Stablepoint Partners LLC now owns 20,434 shares of the utilities provider’s stock valued at $1,839,000 after acquiring an additional 1,377 shares during the last quarter. J. Safra Sarasin Holding AG increased its stake in shares of Sempra Energy by 41.3% in the third quarter. J. Safra Sarasin Holding AG now owns 21,337 shares of the utilities provider’s stock worth $1,920,000 after acquiring an additional 6,239 shares during the period. Finally, Compass Wealth Management LLC purchased a new position in shares of Sempra Energy during the third quarter worth $536,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Sempra Energy Stock Performance

SRE opened at $86.72 on Thursday. The firm’s fifty day simple moving average is $89.32 and its two-hundred day simple moving average is $87.05. Sempra Energy has a 52-week low of $61.90 and a 52-week high of $95.72. The company has a market cap of $56.60 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.32 and a beta of 0.74. The company has a quick ratio of 1.56, a current ratio of 1.59 and a debt-to-equity ratio of 0.76.

Sempra Energy (NYSE:SRE) last released its earnings results on Wednesday, November 5th. The utilities provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.27. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Sempra Energy had a net margin of 15.63% and a return on equity of 8.67%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Equities analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Sempra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Thursday, December 11th were paid a $0.645 dividend. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.0%. Sempra Energy’s payout ratio is currently 79.14%.

Insider Transactions at Sempra Energy

In other news, CFO Karen L. Sedgwick sold 7,564 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $92.29, for a total value of $698,081.56. Following the completion of the sale, the chief financial officer directly owned 41,280 shares in the company, valued at $3,809,731.20. This represents a 15.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Dyan Z. Wold sold 1,510 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $91.38, for a total transaction of $137,983.80. Following the completion of the transaction, the chief accounting officer directly owned 3,481 shares in the company, valued at approximately $318,093.78. This represents a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,396 shares of company stock valued at $1,785,606 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SRE. Citigroup reaffirmed a “neutral” rating and issued a $99.00 price target (up from $80.00) on shares of Sempra Energy in a report on Monday, November 24th. BTIG Research upgraded Sempra Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. UBS Group reissued an “outperform” rating and issued a $100.00 price target on shares of Sempra Energy in a report on Thursday, January 22nd. Finally, BMO Capital Markets raised their price objective on shares of Sempra Energy from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Sempra Energy presently has an average rating of “Moderate Buy” and an average price target of $95.83.

Sempra Energy Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.