Oak Grove Capital LLC Has $4.82 Million Stock Holdings in Sempra Energy $SRE

Oak Grove Capital LLC lowered its position in shares of Sempra Energy (NYSE:SRE) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,600 shares of the utilities provider’s stock after selling 6,000 shares during the quarter. Sempra Energy makes up approximately 0.7% of Oak Grove Capital LLC’s holdings, making the stock its 23rd biggest holding. Oak Grove Capital LLC’s holdings in Sempra Energy were worth $4,823,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Sempra Energy by 14.2% in the third quarter. Vanguard Group Inc. now owns 75,725,594 shares of the utilities provider’s stock valued at $6,813,784,000 after acquiring an additional 9,396,652 shares during the last quarter. Norges Bank acquired a new stake in Sempra Energy during the 2nd quarter valued at $701,649,000. JPMorgan Chase & Co. raised its position in Sempra Energy by 106.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,428,007 shares of the utilities provider’s stock valued at $938,325,000 after purchasing an additional 5,374,277 shares during the last quarter. Marshall Wace LLP boosted its stake in Sempra Energy by 786.1% in the second quarter. Marshall Wace LLP now owns 2,957,399 shares of the utilities provider’s stock worth $224,082,000 after purchasing an additional 2,623,637 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sempra Energy by 809.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,750,891 shares of the utilities provider’s stock worth $208,435,000 after purchasing an additional 2,448,415 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $101.00 price objective on shares of Sempra Energy in a report on Friday, February 20th. Barclays set a $95.00 price target on Sempra Energy and gave the company an “overweight” rating in a research note on Tuesday, February 3rd. UBS Group reissued an “outperform” rating and set a $100.00 price objective on shares of Sempra Energy in a report on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. Finally, Citigroup restated a “neutral” rating and issued a $99.00 price objective (up from $80.00) on shares of Sempra Energy in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.20.

Sempra Energy Stock Down 0.6%

Shares of Sempra Energy stock opened at $95.66 on Tuesday. Sempra Energy has a 1 year low of $61.90 and a 1 year high of $97.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.59 and a quick ratio of 1.57. The company has a market capitalization of $62.43 billion, a P/E ratio of 34.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.73. The business has a 50-day moving average of $89.83 and a two-hundred day moving average of $88.92.

Sempra Energy (NYSE:SRE) last announced its earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the company posted $1.50 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. As a group, equities analysts predict that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Thursday, March 19th will be given a dividend of $0.6575 per share. This is an increase from Sempra Energy’s previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, March 19th. Sempra Energy’s payout ratio is currently 93.48%.

Sempra Energy Company Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.