Bessemer Group Inc. Has $170.84 Million Position in Sempra Energy $SRE

Bessemer Group Inc. grew its stake in shares of Sempra Energy (NYSE:SRE) by 20,627.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,898,675 shares of the utilities provider’s stock after acquiring an additional 1,889,515 shares during the period. Bessemer Group Inc.’s holdings in Sempra Energy were worth $170,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its stake in Sempra Energy by 52.5% in the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider’s stock valued at $1,285,000 after purchasing an additional 6,196 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Sempra Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider’s stock valued at $3,819,000 after buying an additional 15,474 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Sempra Energy in the 2nd quarter valued at approximately $1,370,000. Valeo Financial Advisors LLC increased its holdings in Sempra Energy by 76.9% in the second quarter. Valeo Financial Advisors LLC now owns 5,510 shares of the utilities provider’s stock worth $418,000 after buying an additional 2,395 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Sempra Energy by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 34,400 shares of the utilities provider’s stock valued at $2,606,000 after acquiring an additional 300 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Sempra Energy Stock Down 0.4%

SRE opened at $86.68 on Thursday. The firm has a market cap of $56.57 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 2.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.56 and a current ratio of 1.59. The firm’s 50-day simple moving average is $88.74 and its 200-day simple moving average is $87.44. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.72.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.27. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. Sempra Energy had a net margin of 15.63% and a return on equity of 8.67%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. Equities research analysts anticipate that Sempra Energy will post 4.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SRE. UBS Group reissued an “outperform” rating and set a $100.00 target price on shares of Sempra Energy in a research report on Thursday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a report on Wednesday, January 21st. Wall Street Zen upgraded Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Morgan Stanley set a $97.00 target price on Sempra Energy and gave the stock an “overweight” rating in a research report on Monday. Finally, BTIG Research raised shares of Sempra Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Sempra Energy presently has an average rating of “Moderate Buy” and an average target price of $95.83.

Insiders Place Their Bets

In related news, EVP Caroline Ann Winn sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $91.58, for a total transaction of $503,690.00. Following the sale, the executive vice president directly owned 34,164 shares in the company, valued at $3,128,739.12. This represents a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Karen L. Sedgwick sold 7,564 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $92.29, for a total value of $698,081.56. Following the sale, the chief financial officer directly owned 41,280 shares of the company’s stock, valued at $3,809,731.20. This represents a 15.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 19,396 shares of company stock valued at $1,785,606 over the last quarter. 0.27% of the stock is owned by insiders.

Sempra Energy Company Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.