Wetherby Asset Management Inc. Has $634,000 Stake in Sempra Energy (NYSE:SRE)
Wetherby Asset Management Inc. increased its stake in Sempra Energy (NYSE:SRE) by 31.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,619 shares of the utilities provider’s stock after buying an additional 1,331 shares during the period. Wetherby Asset Management Inc.’s holdings in Sempra Energy were worth $634,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Pointe Capital Management LLC bought a new stake in Sempra Energy during the second quarter valued at approximately $246,000. Corundum Group Inc. bought a new stake in Sempra Energy during the second quarter valued at approximately $203,000. Global X Management Co. LLC raised its stake in Sempra Energy by 13.2% in the second quarter. Global X Management Co. LLC now owns 2,481 shares of the utilities provider’s stock valued at $280,000 after buying an additional 289 shares during the period. Advisor Partners LLC raised its stake in Sempra Energy by 16.6% in the second quarter. Advisor Partners LLC now owns 4,919 shares of the utilities provider’s stock valued at $555,000 after buying an additional 701 shares during the period. Finally, Tortoise Capital Advisors L.L.C. raised its stake in Sempra Energy by 334.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,913 shares of the utilities provider’s stock valued at $216,000 after buying an additional 1,473 shares during the period. Hedge funds and other institutional investors own 80.51% of the company’s stock.
Sempra Energy (NYSE SRE) opened at 115.61 on Friday. The company has a 50-day moving average of $113.47 and a 200 day moving average of $111.20. Sempra Energy has a one year low of $92.95 and a one year high of $117.97. The company has a market cap of $29.03 billion, a P/E ratio of 17.10 and a beta of 0.54.
Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts anticipate that Sempra Energy will post $5.19 earnings per share for the current year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.85%. Sempra Energy’s payout ratio is 48.74%.
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Several brokerages recently weighed in on SRE. Morgan Stanley upped their target price on shares of Sempra Energy from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Thursday. BidaskClub raised shares of Sempra Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $117.00 target price on shares of Sempra Energy in a report on Monday, July 24th. Finally, Barclays PLC downgraded 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. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.00.
In other Sempra Energy news, CEO Debra L. Reed sold 23,000 shares of Sempra Energy stock in a transaction on 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 transaction, 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 can be accessed through this link. 0.17% of the stock is currently owned by 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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