Arrow Financial Corp Sells 145 Shares of Sempra Energy (NYSE:SRE)
Arrow Financial Corp lowered its stake in shares of Sempra Energy (NYSE:SRE) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 1,630 shares of the utilities provider’s stock after selling 145 shares during the period. Arrow Financial Corp’s holdings in Sempra Energy were worth $184,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Global X Management Co. LLC raised its position in Sempra Energy by 13.2% in the second quarter. Global X Management Co. LLC now owns 2,481 shares of the utilities provider’s stock valued at $280,000 after buying an additional 289 shares during the last quarter. Advisor Partners LLC raised its position in Sempra Energy by 16.6% in the second quarter. Advisor Partners LLC now owns 4,919 shares of the utilities provider’s stock valued at $555,000 after buying an additional 701 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in Sempra Energy by 334.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,913 shares of the utilities provider’s stock valued at $216,000 after buying an additional 1,473 shares during the last quarter. Retirement Systems of Alabama raised its position in Sempra Energy by 0.4% in the second quarter. Retirement Systems of Alabama now owns 121,618 shares of the utilities provider’s stock valued at $13,712,000 after buying an additional 509 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Sempra Energy by 8.1% in the second quarter. IFP Advisors Inc now owns 14,999 shares of the utilities provider’s stock valued at $1,691,000 after buying an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.
Sempra Energy (NYSE SRE) opened at 116.73 on Thursday. Sempra Energy has a one year low of $92.95 and a one year high of $117.97. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of 20.09 and a beta of 0.54. The firm has a 50-day moving average of $113.35 and a 200-day moving average of $111.07.
Sempra Energy (NYSE:SRE) last posted its earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business posted $0.79 EPS. Sempra Energy’s revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that Sempra Energy will post $5.18 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Friday, July 7th were paid a $0.8225 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $3.29 dividend on an annualized basis and a yield of 2.82%. Sempra Energy’s payout ratio is presently 48.74%.
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Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Sempra Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research lowered shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada restated a “buy” rating and set a $117.00 target price on shares of Sempra Energy in a report on Monday, July 24th. Barclays PLC lowered shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price on the stock. in a report on Thursday, June 8th. Finally, BMO Capital Markets restated a “hold” rating and set a $115.00 target price on shares of Sempra Energy in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Sempra Energy currently has a consensus rating of “Buy” and a consensus price target of $120.43.
In other Sempra Energy news, CEO Debra L. Reed sold 23,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total value of $2,608,890.00. Following the completion of the sale, the chief executive officer now directly owns 112,345 shares of the company’s stock, valued at approximately $12,743,293.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
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