Sempra Energy $SRE Shares Newly Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC bought a new stake in Sempra Energy (NYSE:SRE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,033 shares of the utilities provider’s stock, valued at approximately $782,000.

Several other large investors have also recently bought and sold shares of the company. Pure Financial Advisors LLC bought a new stake in Sempra Energy during the 2nd quarter worth approximately $4,555,000. Carnegie Investment Counsel increased its position in Sempra Energy by 15.5% in the 1st quarter. Carnegie Investment Counsel now owns 167,391 shares of the utilities provider’s stock valued at $16,265,000 after acquiring an additional 22,408 shares during the period. Magellan Asset Management Ltd increased its position in Sempra Energy by 4.2% in the 1st quarter. Magellan Asset Management Ltd now owns 2,258,369 shares of the utilities provider’s stock valued at $219,446,000 after acquiring an additional 91,519 shares during the period. Bank of America Corp DE raised its stake in shares of Sempra Energy by 16.1% during the first quarter. Bank of America Corp DE now owns 10,385,174 shares of the utilities provider’s stock valued at $1,009,127,000 after acquiring an additional 1,441,981 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Sempra Energy by 7.1% during the first quarter. Swiss National Bank now owns 1,915,400 shares of the utilities provider’s stock valued at $186,119,000 after acquiring an additional 127,400 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SRE. JPMorgan Chase & Co. cut their price target on shares of Sempra Energy from $102.00 to $99.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. TD Cowen started coverage on Sempra Energy in a report on Wednesday, July 8th. They issued a “buy” rating for the company. Truist Financial set a $94.00 target price on Sempra Energy and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Morgan Stanley lowered their target price on Sempra Energy from $104.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Finally, Mizuho downgraded Sempra Energy from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $104.00 to $84.00 in a report on Monday, August 31st. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $100.53.

Sempra Energy Stock Down 3.0%

Sempra Energy stock opened at $82.79 on Thursday. The firm has a market cap of $54.13 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 2.35 and a beta of 0.55. Sempra Energy has a 52-week low of $76.21 and a 52-week high of $101.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.62 and a current ratio of 1.64. The firm has a 50 day moving average price of $82.28 and a two-hundred day moving average price of $89.34.

Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Sempra Energy had a net margin of 16.70% and a return on equity of 8.49%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm posted $0.89 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts predict that Sempra Energy will post 5.13 EPS for the current year.

Sempra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, September 24th were paid a dividend of $0.6575 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $2.63 annualized dividend and a yield of 3.2%. Sempra Energy’s dividend payout ratio (DPR) is currently 76.23%.

Sempra Energy Profile

Sempra is an energy infrastructure company headquartered in San Diego, California. Through its regulated utility businesses, the company provides natural gas and electric service to customers in California, including through Southern California Gas Company and San Diego Gas & Electric Company.

Sempra also develops, owns, and operates energy infrastructure in North America. Its activities include natural gas pipelines and storage, liquefied natural gas infrastructure, renewable energy and battery storage projects, and electric transmission and distribution assets.