Sempra Energy (NYSE:SRE) EVP Sells $109,066.32 in Stock

Sempra Energy (NYSE:SRE) EVP Justin Christopher Bird sold 1,128 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $96.69, for a total value of $109,066.32. Following the completion of the sale, the executive vice president owned 21,632 shares of the company’s stock, valued at $2,091,598.08. This represents a 4.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sempra Energy Trading Up 1.2%

Sempra Energy stock traded up $1.14 during midday trading on Thursday, hitting $98.55. 345,073 shares of the stock were exchanged, compared to its average volume of 3,889,069. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $98.93. The stock has a market capitalization of $64.38 billion, a PE ratio of 35.73, a P/E/G ratio of 3.68 and a beta of 0.67. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $92.34 and a two-hundred day simple moving average of $90.84.

Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts anticipate that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Thursday, March 19th will be given a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a yield of 2.7%. This is an increase from Sempra Energy’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Thursday, March 19th. Sempra Energy’s payout ratio is currently 95.29%.

Wall Street Analyst Weigh In

SRE has been the topic of several recent research reports. Argus upgraded Sempra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, March 4th. UBS Group reissued a “neutral” rating and issued a $100.00 target price (up from $96.00) on shares of Sempra Energy in a report on Friday, March 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their target price on Sempra Energy from $98.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Finally, Barclays set a $95.00 price objective on shares of Sempra Energy and gave the company an “overweight” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.73.

Institutional Investors Weigh In On Sempra Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in Sempra Energy by 52.5% during the 1st quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider’s stock valued at $1,285,000 after purchasing an additional 6,196 shares during the period. Woodline Partners LP boosted its stake in shares of Sempra Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider’s stock valued at $3,819,000 after purchasing an additional 15,474 shares during the last quarter. American Century Companies Inc. increased its position in shares of Sempra Energy by 2.8% during the second quarter. American Century Companies Inc. now owns 143,208 shares of the utilities provider’s stock worth $10,851,000 after buying an additional 3,866 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Sempra Energy during the second quarter worth $46,000. Finally, Fisher Asset Management LLC bought a new position in Sempra Energy during the second quarter worth $207,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

About Sempra Energy

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.