Oppenheimer Asset Management Inc. Has $16.63 Million Stock Position in Sempra Energy $SRE

Oppenheimer Asset Management Inc. boosted its stake in shares of Sempra Energy (NYSE:SRE) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 219,490 shares of the utilities provider’s stock after buying an additional 2,171 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sempra Energy were worth $16,631,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pingora Partners LLC grew its stake in shares of Sempra Energy by 48.3% during the 1st quarter. Pingora Partners LLC now owns 430 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 140 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in shares of Sempra Energy by 230.8% during the 2nd quarter. ST Germain D J Co. Inc. now owns 430 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of Sempra Energy by 74.1% during the 2nd quarter. Bogart Wealth LLC now owns 444 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 189 shares in the last quarter. Eastern Bank grew its stake in shares of Sempra Energy by 73.7% during the 1st quarter. Eastern Bank now owns 580 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 246 shares in the last quarter. Finally, Barrett & Company Inc. bought a new position in shares of Sempra Energy during the 2nd quarter worth approximately $51,000. 89.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Sempra Energy

In other Sempra Energy news, Director Kevin C. Sagara sold 14,433 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $89.50, for a total transaction of $1,291,753.50. Following the completion of the sale, the director owned 1,042 shares of the company’s stock, valued at $93,259. This trade represents a 93.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Caroline Ann Winn sold 5,114 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the sale, the executive vice president directly owned 39,380 shares of the company’s stock, valued at $3,229,553.80. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,411 shares of company stock valued at $4,141,790 in the last ninety days. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

SRE has been the subject of several research reports. BTIG Research raised shares of Sempra Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Citigroup reaffirmed a “neutral” rating and set a $80.00 price target (up from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. Mizuho raised their target price on shares of Sempra Energy from $86.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Morgan Stanley reissued an “overweight” rating and issued a $99.00 target price on shares of Sempra Energy in a research note on Wednesday. Finally, Barclays set a $101.00 target price on shares of Sempra Energy and gave the company an “overweight” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Sempra Energy Price Performance

NYSE:SRE opened at $92.81 on Monday. The firm has a fifty day simple moving average of $86.31 and a 200 day simple moving average of $79.80. Sempra Energy has a 1-year low of $61.90 and a 1-year high of $95.77. The stock has a market capitalization of $60.56 billion, a PE ratio of 22.42, a P/E/G ratio of 2.86 and a beta of 0.66. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm posted $0.89 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts expect that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.645 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.58 annualized dividend and a yield of 2.8%. Sempra Energy’s dividend payout ratio (DPR) is currently 62.32%.

Sempra Energy Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.