IFP Advisors Inc Raises Holdings in Sempra Energy (SRE)
IFP Advisors Inc grew its position in Sempra Energy (NYSE:SRE) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,020 shares of the utilities provider’s stock after purchasing an additional 1,021 shares during the period. IFP Advisors Inc’s holdings in Sempra Energy were worth $1,828,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Sempra Energy by 0.3% during the 2nd quarter. BlackRock Inc. now owns 20,037,400 shares of the utilities provider’s stock valued at $2,259,219,000 after acquiring an additional 68,576 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sempra Energy by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 17,796,341 shares of the utilities provider’s stock worth $2,006,537,000 after acquiring an additional 429,693 shares during the period. Capital International Investors lifted its position in shares of Sempra Energy by 7.1% in the 2nd quarter. Capital International Investors now owns 9,993,320 shares of the utilities provider’s stock worth $1,126,747,000 after acquiring an additional 661,199 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Sempra Energy by 2.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock worth $454,591,000 after acquiring an additional 80,131 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Sempra Energy by 16.2% in the 2nd quarter. Northern Trust Corp now owns 3,148,064 shares of the utilities provider’s stock worth $354,945,000 after acquiring an additional 439,359 shares during the period. 80.62% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts have issued reports on the company. Bank of America Corporation assumed coverage on Sempra Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $125.00 price objective for the company. J P Morgan Chase & Co lifted their target price on Sempra Energy from $123.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a research note on Monday, July 24th. Morgan Stanley lifted their price objective on Sempra Energy from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Finally, BidaskClub upgraded Sempra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Sempra Energy has a consensus rating of “Buy” and an average price target of $124.20.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, hitting the consensus estimate of $1.04. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Investors of record on Friday, September 22nd were given a dividend of $0.8225 per share. This represents a $3.29 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, September 21st. Sempra Energy’s dividend payout ratio is currently 72.95%.
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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