Sempra Energy (NYSE:SRE) Sees Significant Decrease in Short Interest

Sempra Energy (NYSE:SRE) saw a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 8,870,993 shares, a decline of 13.1% from the February 26th total of 10,207,847 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 3,349,379 shares, the days-to-cover ratio is currently 2.6 days.

Insider Activity at Sempra Energy

In related news, CAO Dyan Z. Wold sold 1,539 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $95.38, for a total transaction of $146,789.82. Following the completion of the transaction, the chief accounting officer owned 4,633 shares of the company’s stock, valued at approximately $441,895.54. This represents a 24.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Karen L. Sedgwick sold 4,872 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $92.58, for a total transaction of $451,049.76. Following the transaction, the chief financial officer directly owned 39,029 shares in the company, valued at approximately $3,613,304.82. This represents a 11.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have acquired 6,192 shares of company stock worth $576,979. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Sempra Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in shares of Sempra Energy in the 3rd quarter worth about $25,000. Ares Financial Consulting LLC bought a new position in Sempra Energy in the fourth quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Sempra Energy by 57.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 127 shares during the period. Key Financial Inc grew its holdings in shares of Sempra Energy by 73.6% during the fourth quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Sempra Energy by 83.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SRE. Argus upgraded Sempra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, March 4th. UBS Group reissued a “neutral” rating and set a $100.00 price target (up from $96.00) on shares of Sempra Energy in a research report on Friday, March 6th. Barclays set a $95.00 price target on Sempra Energy and gave the stock an “overweight” rating in a research note on Tuesday, February 3rd. Wells Fargo & Company raised their price objective on Sempra Energy from $113.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Finally, Wall Street Zen cut Sempra Energy from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.73.

Sempra Energy Stock Performance

NYSE:SRE opened at $97.44 on Thursday. The firm has a market capitalization of $63.66 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 3.68 and a beta of 0.67. The firm’s fifty day simple moving average is $92.34 and its 200 day simple moving average is $90.84. The company has a current ratio of 1.59, a quick ratio of 1.57 and a debt-to-equity ratio of 0.75. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $98.45.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.16. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.82 billion. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, equities research analysts expect that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Sempra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Thursday, March 19th will be issued a $0.6575 dividend. This is a positive change from Sempra Energy’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, March 19th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.7%. Sempra Energy’s dividend payout ratio (DPR) is presently 95.29%.

Sempra Energy Company Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.