Schwab Charles Investment Management Inc. Boosts Stake in Sempra Energy (SRE)
Schwab Charles Investment Management Inc. increased its stake in shares of Sempra Energy (NYSE:SRE) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 797,324 shares of the utilities provider’s stock after buying an additional 43,649 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Sempra Energy were worth $88,105,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of SRE. Brookfield Asset Management Inc. boosted its position in shares of Sempra Energy by 13.8% in the fourth quarter. Brookfield Asset Management Inc. now owns 724,085 shares of the utilities provider’s stock valued at $72,872,000 after buying an additional 88,000 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Sempra Energy during the first quarter valued at about $312,000. Teza Capital Management LLC bought a new position in shares of Sempra Energy during the first quarter valued at about $814,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of 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 valued at $4,386,000 after buying an additional 103 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Sempra Energy by 2.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 118,589 shares of the utilities provider’s stock valued at $11,935,000 after buying an additional 2,966 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
Shares of Sempra Energy (SRE) traded down 0.06% during mid-day trading on Friday, reaching $113.30. 301,070 shares of the company were exchanged. The firm has a market capitalization of $28.42 billion, a price-to-earnings ratio of 19.50 and a beta of 0.56. Sempra Energy has a 12 month low of $92.95 and a 12 month high of $117.97. The company’s 50-day moving average is $113.86 and its 200 day moving average is $108.25.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Tuesday, May 9th. The utilities provider reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.87 billion. Sempra Energy had a net margin of 13.77% and a return on equity of 9.06%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. Analysts predict that Sempra Energy will post $5.10 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Friday, July 7th will be issued a $0.8225 dividend. This represents a $3.29 annualized dividend and a yield of 2.90%. The ex-dividend date is Wednesday, July 5th. Sempra Energy’s payout ratio is currently 56.92%.
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SRE has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of Sempra Energy from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Friday, April 28th. Barclays PLC cut shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price for the company. in a report on Thursday, June 8th. BidaskClub upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, BMO Capital Markets restated a “hold” rating and issued a $115.00 target price on shares of Sempra Energy in a report on Wednesday, May 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Sempra Energy currently has an average rating of “Hold” and an average price target of $119.60.
In related news, CEO Debra L. Reed sold 23,000 shares of the company’s stock in a transaction dated 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 owns 112,345 shares of the company’s stock, valued at $12,743,293.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.
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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