US Bancorp DE lowered its stake in Sempra Energy (NYSE:SRE) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,249 shares of the utilities provider’s stock after selling 1,971 shares during the quarter. US Bancorp DE’s holdings in Sempra Energy were worth $9,127,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. ELM Advisors LLC purchased a new position in Sempra Energy in the 3rd quarter worth about $101,000. Squar Milner Financial Services LLC purchased a new position in Sempra Energy in the 2nd quarter worth about $105,000. Truvestments Capital LLC purchased a new position in Sempra Energy in the 3rd quarter worth about $126,000. Polaris Greystone Financial Group LLC purchased a new position in Sempra Energy in the 3rd quarter worth about $139,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Sempra Energy during the 3rd quarter valued at about $148,000. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on SRE shares. JPMorgan Chase & Co. set a $110.00 target price on Sempra Energy and gave the company a “hold” rating in a research note on Monday, July 30th. Bank of America lifted their target price on Sempra Energy from $118.00 to $121.00 and gave the company a “neutral” rating in a research note on Tuesday, August 7th. Morgan Stanley set a $120.00 target price on Sempra Energy and gave the company an “equal weight” rating in a research note on Friday, August 10th. Finally, Wells Fargo & Co raised Sempra Energy from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $125.00 to $128.00 in a research note on Monday, August 20th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $123.38.
Sempra Energy (NYSE:SRE) last released its earnings results on Wednesday, November 7th. The utilities provider reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.10. Sempra Energy had a positive return on equity of 9.02% and a negative net margin of 3.33%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the business posted $1.04 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Sempra Energy will post 5.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 21st were issued a dividend of $0.895 per share. The ex-dividend date was Thursday, September 20th. This represents a $3.58 annualized dividend and a dividend yield of 3.07%. Sempra Energy’s dividend payout ratio is 66.05%.
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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 engages in the generation, transmission, and distribution of electricity.
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