Newport Trust Co lessened its stake in shares of Sempra Energy (NYSE:SRE) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,789,625 shares of the utilities provider’s stock after selling 184,666 shares during the period. Sempra Energy accounts for about 3.5% of Newport Trust Co’s portfolio, making the stock its 7th largest position. Newport Trust Co owned approximately 3.20% of Sempra Energy worth $1,297,437,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC acquired a new position in Sempra Energy during the second quarter worth $25,000. River & Mercantile Asset Management LLP acquired a new position in Sempra Energy during the second quarter worth $27,000. Garrett Wealth Advisory Group LLC acquired a new position in Sempra Energy during the third quarter worth $31,000. Westside Investment Management Inc. acquired a new position in Sempra Energy during the second quarter worth $41,000. Finally, Meeder Asset Management Inc. acquired a new position in Sempra Energy during the second quarter worth $47,000. Institutional investors own 92.81% of the company’s stock.
Several research analysts have weighed in on SRE shares. JPMorgan Chase & Co. upped their price objective on shares of Sempra Energy from $136.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. ValuEngine downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Peel Hunt reiterated a “buy” rating on shares of Sempra Energy in a report on Tuesday, October 22nd. Zacks Investment Research upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating and set a $154.00 target price for the company in a report on Tuesday, October 15th. Finally, Barclays initiated coverage on shares of Sempra Energy in a report on Tuesday, August 13th. They issued an “equal weight” rating and a $142.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $150.40.
Shares of SRE stock traded up $0.01 on Friday, hitting $142.12. The stock had a trading volume of 884,013 shares, compared to its average volume of 1,554,741. The business has a 50 day moving average of $144.93 and a 200 day moving average of $138.41. The stock has a market cap of $40.41 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 3.08 and a beta of 0.41. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.39 and a quick ratio of 0.36. Sempra Energy has a 12-month low of $104.88 and a 12-month high of $148.90.
Sempra Energy (NYSE:SRE) last announced its earnings results on Friday, November 1st. The utilities provider reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.93 billion. Sempra Energy had a net margin of 23.55% and a return on equity of 10.12%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 earnings per share. As a group, research analysts expect that Sempra Energy will post 6.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 20th were given a dividend of $0.9675 per share. The ex-dividend date was Thursday, September 19th. This represents a $3.87 annualized dividend and a yield of 2.72%. Sempra Energy’s payout ratio is currently 69.48%.
In related news, COO Joseph A. Householder sold 14,304 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $143.21, for a total transaction of $2,048,475.84. Following the completion of the transaction, the chief operating officer now owns 45,991 shares in the company, valued at $6,586,371.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.
Sempra Energy Profile
Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment generates, transmits, and distributes electricity; and supplies natural gas.
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