Adirondack Trust Co. reduced its holdings in Sempra Energy (NYSE:SRE) by 47.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,166 shares of the utilities provider’s stock after selling 1,046 shares during the period. Adirondack Trust Co.’s holdings in Sempra Energy were worth $172,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Sempra Energy by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 22,763,214 shares of the utilities provider’s stock valued at $3,128,576,000 after acquiring an additional 641,500 shares during the period. Northern Trust Corp increased its position in shares of Sempra Energy by 1.6% during the second quarter. Northern Trust Corp now owns 3,693,409 shares of the utilities provider’s stock worth $507,621,000 after buying an additional 59,774 shares during the period. Bank of New York Mellon Corp increased its position in shares of Sempra Energy by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 2,273,243 shares of the utilities provider’s stock worth $312,434,000 after buying an additional 14,352 shares during the period. Magellan Asset Management Ltd increased its position in shares of Sempra Energy by 3.1% during the first quarter. Magellan Asset Management Ltd now owns 1,934,817 shares of the utilities provider’s stock worth $243,516,000 after buying an additional 57,861 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Sempra Energy by 19.9% during the second quarter. California Public Employees Retirement System now owns 1,804,206 shares of the utilities provider’s stock worth $247,970,000 after buying an additional 300,044 shares during the period. Hedge funds and other institutional investors own 92.72% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Wells Fargo & Co increased their price objective on shares of Sempra Energy from $153.00 to $161.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. Argus increased their price objective on shares of Sempra Energy from $150.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Barclays assumed coverage on shares of Sempra Energy in a research report on Tuesday, August 13th. They set an “equal weight” rating and a $142.00 price objective for the company. ValuEngine cut shares of Sempra Energy from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, UBS Group increased their price objective on shares of Sempra Energy from $156.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $149.44.
Shares of SRE traded up $0.73 during trading hours on Wednesday, hitting $146.64. 781,921 shares of the stock were exchanged, compared to its average volume of 1,528,630. Sempra Energy has a fifty-two week low of $104.88 and a fifty-two week high of $148.14. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.34 and a quick ratio of 0.31. The business has a 50-day moving average of $142.87 and a 200-day moving average of $135.75. The firm has a market capitalization of $40.42 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 3.26 and a beta of 0.42.
Sempra Energy (NYSE:SRE) last issued its 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 for the quarter, compared to the consensus estimate of $2.32 billion. Sempra Energy had a return on equity of 10.18% and a net margin of 18.61%. During the same period in the prior year, the company earned $1.35 earnings per share. As a group, analysts forecast that Sempra Energy will post 5.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 20th will be paid a dividend of $0.9675 per share. This represents a $3.87 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, September 19th. Sempra Energy’s dividend payout ratio 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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