Van ECK Associates Corp boosted its holdings in Sempra Energy (NYSE:SRE) by 21.2% in the second quarter, HoldingsChannel reports. The firm owned 45,973 shares of the utilities provider’s stock after purchasing an additional 8,038 shares during the period. Van ECK Associates Corp’s holdings in Sempra Energy were worth $6,091,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Motco boosted its position in shares of Sempra Energy by 7.9% during the 2nd quarter. Motco now owns 43,966 shares of the utilities provider’s stock worth $5,825,000 after purchasing an additional 3,204 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Sempra Energy by 374.1% in the first quarter. Maryland State Retirement & Pension System now owns 22,178 shares of the utilities provider’s stock valued at $2,940,000 after purchasing an additional 17,500 shares during the last quarter. Atria Investments LLC purchased a new stake in Sempra Energy in the 1st quarter valued at about $1,057,000. Eaton Vance Management increased its position in shares of Sempra Energy by 4.9% during the first quarter. Eaton Vance Management now owns 1,163,867 shares of the utilities provider’s stock valued at $154,306,000 after acquiring an additional 54,612 shares during the last quarter. Finally, Forsta AP Fonden increased its position in shares of Sempra Energy by 13.1% during the 1st quarter. Forsta AP Fonden now owns 57,100 shares of the utilities provider’s stock valued at $7,570,000 after purchasing an additional 6,600 shares during the last quarter. Institutional investors own 83.50% of the company’s stock.
Several research firms have recently weighed in on SRE. Barclays increased their price target on Sempra Energy from $145.00 to $158.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 25th. KeyCorp dropped their price target on Sempra Energy from $141.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, July 1st. Wells Fargo & Company raised their target price on shares of Sempra Energy from $148.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, June 30th. Morgan Stanley decreased their price target on shares of Sempra Energy from $156.00 to $155.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, BMO Capital Markets reduced their target price on Sempra Energy from $151.00 to $145.00 and set a “market perform” rating on the stock in a research note on Friday, June 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $148.43.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Thursday, August 5th. The utilities provider reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.04. Sempra Energy had a return on equity of 10.40% and a net margin of 18.44%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $1.71 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Research analysts forecast that Sempra Energy will post 8.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Friday, September 24th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, September 23rd. This represents a $4.40 annualized dividend and a dividend yield of 3.30%. Sempra Energy’s dividend payout ratio is presently 54.79%.
Sempra Energy Profile
Sempra Energy is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: San Diego Gas and Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Texas Utilities, Sempra Mexico, and Sempra LNG.
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