Prossimo Advisors LLC Sells 2,504 Shares of Sempra Energy $SRE

Prossimo Advisors LLC lowered its holdings in Sempra Energy (NYSE:SRE) by 40.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,717 shares of the utilities provider’s stock after selling 2,504 shares during the quarter. Prossimo Advisors LLC’s holdings in Sempra Energy were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. raised its stake in Sempra Energy by 51.2% in the second quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider’s stock worth $29,000 after buying an additional 127 shares in the last quarter. Pingora Partners LLC boosted its position in Sempra Energy by 48.3% during the 1st quarter. Pingora Partners LLC now owns 430 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 140 shares in the last quarter. NewSquare Capital LLC increased its holdings in shares of Sempra Energy by 245.1% in the 2nd quarter. NewSquare Capital LLC now owns 421 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 299 shares during the period. ST Germain D J Co. Inc. raised its position in shares of Sempra Energy by 230.8% in 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. Finally, Bogart Wealth LLC raised its position in shares of Sempra Energy by 74.1% in 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. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Energy Stock Performance

Shares of SRE stock opened at $94.72 on Monday. Sempra Energy has a 12-month low of $61.90 and a 12-month high of $95.72. The company has a market capitalization of $61.82 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.84 and a beta of 0.68. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $91.55 and its two-hundred day moving average is $83.29.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.84 by $0.27. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.99 billion. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. Analysts expect that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Thursday, December 11th will be paid a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, December 11th. Sempra Energy’s payout ratio is 79.14%.

Analyst Upgrades and Downgrades

Several research firms recently commented on SRE. Citigroup reiterated a “neutral” rating and set a $99.00 price objective (up previously from $80.00) on shares of Sempra Energy in a research note on Monday, November 24th. Wells Fargo & Company initiated coverage on Sempra Energy in a report on Monday, October 27th. They set an “overweight” rating and a $115.00 price objective for the company. Morgan Stanley set a $98.00 price target on shares of Sempra Energy in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sempra Energy in a report on Wednesday, October 8th. Finally, Barclays dropped their target price on Sempra Energy from $101.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.92.

Insider Buying and Selling at Sempra Energy

In other Sempra Energy news, Director Kevin C. Sagara sold 28,864 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $84.21, for a total value of $2,430,637.44. Following the transaction, the director owned 15,475 shares in the company, valued at approximately $1,303,149.75. This trade represents a 65.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Ann Winn sold 5,500 shares of Sempra Energy stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $91.58, for a total transaction of $503,690.00. Following the sale, the executive vice president directly owned 34,164 shares in the company, valued at approximately $3,128,739.12. This trade represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 62,693 shares of company stock valued at $5,507,997. 0.27% of the stock is owned by insiders.

Sempra Energy Company 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.