Veritable L.P. Has $794,000 Holdings in Sempra Energy (SRE)
Veritable L.P. boosted its stake in Sempra Energy (NYSE:SRE) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,038 shares of the utilities provider’s stock after acquiring an additional 118 shares during the quarter. Veritable L.P.’s holdings in Sempra Energy were worth $794,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Watermark Asset Management Inc. purchased a new position in Sempra Energy in the 1st quarter worth approximately $411,000. JPMorgan Chase & Co. boosted its holdings in 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. Girard Partners LTD. boosted its holdings in Sempra Energy by 11.9% in the 2nd quarter. Girard Partners LTD. now owns 3,234 shares of the utilities provider’s stock worth $365,000 after acquiring an additional 343 shares during the period. Timber Hill LLC purchased a new position in Sempra Energy in the 2nd quarter worth approximately $1,104,000. Finally, Opus Capital Group LLC purchased a new position in Sempra Energy in the 2nd quarter worth approximately $563,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
Shares of Sempra Energy (NYSE SRE) opened at 114.13 on Friday. The firm has a market capitalization of $28.66 billion, a price-to-earnings ratio of 16.88 and a beta of 0.55. Sempra Energy has a 52-week low of $92.95 and a 52-week high of $120.17. The company’s 50 day moving average price is $117.61 and its 200 day moving average price is $113.75.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.30. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm earned $0.79 EPS. Sempra Energy’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts forecast that Sempra Energy will post $5.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 22nd will be paid a $0.8225 dividend. This represents a $3.29 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, September 21st. Sempra Energy’s dividend payout ratio is 48.74%.
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SRE has been the subject of several research analyst reports. Barclays PLC cut Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price for the company. in a research note on Thursday, June 8th. BidaskClub upgraded Sempra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut Sempra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Morgan Stanley increased their target price on Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $117.00 target price on shares of Sempra Energy in a research note on Monday, July 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $121.00.
Sempra Energy Profile
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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