Fred Alger Management Inc. lowered its position in Sempra Energy (NYSE:SRE) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,568 shares of the utilities provider’s stock after selling 3,962 shares during the quarter. Fred Alger Management Inc.’s holdings in Sempra Energy were worth $1,130,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Sempra Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 20,631,499 shares of the utilities provider’s stock worth $2,205,919,000 after purchasing an additional 475,879 shares in the last quarter. Capital International Investors grew its stake in Sempra Energy by 14.8% in the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock worth $1,308,797,000 after purchasing an additional 1,474,282 shares in the last quarter. Parnassus Investments CA grew its stake in Sempra Energy by 22.1% in the fourth quarter. Parnassus Investments CA now owns 4,398,413 shares of the utilities provider’s stock worth $470,278,000 after purchasing an additional 796,352 shares in the last quarter. Geode Capital Management LLC grew its stake in Sempra Energy by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,656,308 shares of the utilities provider’s stock worth $283,424,000 after purchasing an additional 85,865 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Sempra Energy by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,559,513 shares of the utilities provider’s stock worth $273,662,000 after purchasing an additional 199,223 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors.
Shares of Sempra Energy (SRE) opened at $110.70 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $28,021.83, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 0.52. Sempra Energy has a twelve month low of $100.63 and a twelve month high of $122.97.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Friday, March 23rd will be issued a dividend of $0.895 per share. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $3.58 dividend on an annualized basis and a yield of 3.23%. This is a positive change from Sempra Energy’s previous quarterly dividend of $0.82. Sempra Energy’s dividend payout ratio is currently 325.75%.
Several research analysts recently issued reports on SRE shares. Zacks Investment Research cut Sempra Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Bank of America cut Sempra Energy from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research note on Friday, December 22nd. Wells Fargo & Co reissued a “buy” rating and issued a $121.00 price objective (down previously from $130.00) on shares of Sempra Energy in a research note on Wednesday, January 3rd. UBS Group started coverage on Sempra Energy in a research note on Friday, February 2nd. They issued a “buy” rating and a $124.00 price objective on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $122.00 price objective on shares of Sempra Energy in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $119.80.
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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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