Assetmark Inc. Reduces Stock Holdings in Sempra Energy $SRE

Assetmark Inc. lessened its position in shares of Sempra Energy (NYSE:SRE) by 5.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 415,716 shares of the utilities provider’s stock after selling 25,900 shares during the period. Assetmark Inc.’s holdings in Sempra Energy were worth $37,406,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Sempra Energy by 3.3% during the second quarter. Vanguard Group Inc. now owns 66,328,942 shares of the utilities provider’s stock worth $5,025,777,000 after buying an additional 2,090,840 shares in the last quarter. State Street Corp increased its stake in Sempra Energy by 3.7% during the second quarter. State Street Corp now owns 34,380,068 shares of the utilities provider’s stock worth $2,626,827,000 after acquiring an additional 1,214,931 shares during the last quarter. Geode Capital Management LLC increased its stake in Sempra Energy by 3.9% during the second quarter. Geode Capital Management LLC now owns 14,036,572 shares of the utilities provider’s stock worth $1,058,214,000 after acquiring an additional 525,750 shares during the last quarter. Norges Bank purchased a new position in shares of Sempra Energy in the 2nd quarter worth about $701,649,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sempra Energy by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,159,207 shares of the utilities provider’s stock valued at $464,225,000 after purchasing an additional 60,247 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Insider Transactions at Sempra Energy

In other news, EVP Caroline Ann Winn sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $91.58, for a total transaction of $503,690.00. Following the transaction, the executive vice president directly owned 34,164 shares in the company, valued at $3,128,739.12. The trade was a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dyan Z. Wold sold 1,510 shares of Sempra Energy stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $91.38, for a total value of $137,983.80. Following the sale, the chief accounting officer directly owned 3,481 shares of the company’s stock, valued at approximately $318,093.78. The trade was a 30.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,074 shares of company stock valued at $1,385,605 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Sempra Energy Stock Performance

Shares of NYSE SRE opened at $94.79 on Friday. 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 has a market cap of $61.86 billion, a P/E ratio of 29.08, a PEG ratio of 2.48 and a beta of 0.74. The stock has a fifty day moving average price of $88.50 and a two-hundred day moving average price of $87.88. Sempra Energy has a 1 year low of $61.90 and a 1 year high of $95.74.

Analysts Set New Price Targets

SRE has been the topic of a number of recent research reports. Morgan Stanley set a $97.00 price objective on Sempra Energy and gave the stock an “overweight” rating in a research note on Monday, February 2nd. BTIG Research raised Sempra Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company restated an “overweight” rating and set a $112.00 price objective (down previously from $115.00) on shares of Sempra Energy in a research note on Tuesday, January 20th. BMO Capital Markets lifted their price target on shares of Sempra Energy from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Sempra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $95.83.

Sempra Energy 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.