Cigna Investments Inc. New Reduces Stake in Sempra Energy (SRE)
Cigna Investments Inc. New decreased its position in Sempra Energy (NYSE:SRE) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,656 shares of the utilities provider’s stock after selling 668 shares during the period. Cigna Investments Inc. New’s holdings in Sempra Energy were worth $1,089,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hexavest Inc. purchased a new position in Sempra Energy during the first quarter worth $1,061,000. State of Alaska Department of Revenue increased its position in Sempra Energy by 41.1% in the first quarter. State of Alaska Department of Revenue now owns 8,491 shares of the utilities provider’s stock worth $938,000 after buying an additional 2,475 shares during the period. Huntington National Bank increased its position in Sempra Energy by 1.0% in the first quarter. Huntington National Bank now owns 199,195 shares of the utilities provider’s stock worth $22,012,000 after buying an additional 2,055 shares during the period. Ledyard National Bank increased its position in Sempra Energy by 95.8% in the first quarter. Ledyard National Bank now owns 4,915 shares of the utilities provider’s stock worth $543,000 after buying an additional 2,405 shares during the period. Finally, DnB Asset Management AS increased its position in Sempra Energy by 26.1% in the first quarter. DnB Asset Management AS now owns 33,387 shares of the utilities provider’s stock worth $3,689,000 after buying an additional 6,900 shares during the period. 80.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sempra Energy (NYSE SRE) opened at 116.06 on Friday. The stock has a market capitalization of $29.14 billion, a P/E ratio of 17.17 and a beta of 0.54. Sempra Energy has a 52 week low of $92.95 and a 52 week high of $117.97. The stock has a 50 day moving average price of $113.41 and a 200 day moving average price of $111.11.
Sempra Energy (NYSE:SRE) last released its earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $0.79 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Sempra Energy will post $5.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Friday, July 7th were issued a dividend of $0.8225 per share. The ex-dividend date was Wednesday, July 5th. This represents a $3.29 annualized dividend and a dividend yield of 2.83%. Sempra Energy’s payout ratio is 48.74%.
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A number of research analysts recently weighed in on the company. Barclays PLC downgraded Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price target on the stock. in a research note on Thursday, June 8th. BidaskClub raised Sempra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Sempra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley upped their price target on Sempra Energy from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $117.00 price objective on shares of Sempra Energy in a research note on Monday, July 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $121.00.
In other news, CEO Debra L. Reed sold 23,000 shares of Sempra Energy stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the completion of the transaction, the chief executive officer now directly owns 112,345 shares in the company, valued at $12,743,293.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.
About Sempra Energy
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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