Sempra Energy (SRE) Stake Reduced by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale lowered its stake in Sempra Energy (NYSE:SRE) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,107 shares of the utilities provider’s stock after selling 14,285 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Sempra Energy were worth $7,793,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Maple Brown Abbott Ltd raised its position in shares of Sempra Energy by 17.1% in the second quarter. Maple Brown Abbott Ltd now owns 631,765 shares of the utilities provider’s stock valued at $71,232,000 after buying an additional 92,100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Sempra Energy by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 835,703 shares of the utilities provider’s stock valued at $94,226,000 after buying an additional 38,379 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Sempra Energy by 31.0% in the second quarter. Wetherby Asset Management Inc. now owns 5,619 shares of the utilities provider’s stock valued at $634,000 after buying an additional 1,331 shares during the period. Pointe Capital Management LLC acquired a new stake in shares of Sempra Energy during the second quarter valued at about $246,000. Finally, Corundum Group Inc. acquired a new stake in shares of Sempra Energy during the second quarter valued at about $203,000. Institutional investors own 80.54% of the company’s stock.
Shares of Sempra Energy (SRE) opened at 116.43 on Tuesday. The firm has a 50 day moving average of $113.58 and a 200 day moving average of $111.43. Sempra Energy has a one year low of $92.95 and a one year high of $117.97. The stock has a market cap of $29.23 billion, a P/E ratio of 17.22 and a beta of 0.54.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, equities research analysts predict that Sempra Energy will post $5.23 EPS for the current fiscal year.
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Several analysts have issued reports on the stock. UBS AG reaffirmed a “buy” rating and issued a $128.00 price target (up previously from $124.00) on shares of Sempra Energy in a report on Tuesday, April 18th. Morgan Stanley upped their price target on shares of Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $117.00 price target on shares of Sempra Energy in a report on Monday, July 24th. BidaskClub raised shares of Sempra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Sempra Energy presently has a consensus rating of “Buy” and a consensus price target of $121.00.
In related news, CEO Debra L. Reed sold 23,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the sale, the chief executive officer now owns 112,345 shares of the company’s stock, valued at approximately $12,743,293.35. The sale was disclosed in a legal 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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