Pointe Capital Management LLC Takes Position in Sempra Energy (NYSE:SRE)
Pointe Capital Management LLC acquired a new position in shares of Sempra Energy (NYSE:SRE) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 2,183 shares of the utilities provider’s stock, valued at approximately $246,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Watermark Asset Management Inc. purchased a new stake in Sempra Energy during the first quarter worth about $411,000. Parametrica Management Ltd purchased a new stake in Sempra Energy during the first quarter worth about $312,000. Teza Capital Management LLC purchased a new stake in Sempra Energy during the first quarter worth about $814,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Sempra Energy by 0.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 39,696 shares of the utilities provider’s stock worth $4,386,000 after buying an additional 103 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Sempra Energy by 0.7% in the first quarter. Prudential Financial Inc. now owns 352,815 shares of the utilities provider’s stock worth $38,986,000 after buying an additional 2,590 shares during the last quarter. 80.51% of the stock is owned by hedge funds and other institutional investors.
Sempra Energy (NYSE SRE) opened at 116.06 on Friday. The company has a market capitalization of $29.14 billion, a price-to-earnings ratio of 17.17 and a beta of 0.54. The firm’s 50-day moving average price is $113.41 and its 200 day moving average price is $111.11. Sempra Energy has a 12-month low of $92.95 and a 12-month high of $117.97.
Sempra Energy (NYSE:SRE) last issued 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 business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $0.79 EPS. Sempra Energy’s revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Sempra Energy will post $5.19 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, July 7th were issued a $0.8225 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $3.29 annualized dividend and a yield of 2.83%. Sempra Energy’s dividend payout ratio is currently 48.74%.
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SRE has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Sempra Energy from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Friday, April 28th. BidaskClub cut Sempra Energy from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Barclays PLC cut Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price objective for the company. in a research report on Thursday, June 8th. Zacks Investment Research cut Sempra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a research report on Monday, July 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $121.00.
In other news, CEO Debra L. Reed sold 23,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 112,345 shares of the company’s stock, valued at $12,743,293.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by corporate 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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