Sumitomo Life Insurance Co. increased its position in Sempra Energy (NYSE:SRE) by 145.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,744 shares of the utilities provider’s stock after buying an additional 9,911 shares during the period. Sumitomo Life Insurance Co.’s holdings in Sempra Energy were worth $1,888,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of SRE. BlackRock Inc. boosted its stake in shares of Sempra Energy by 2,725.7% in the first quarter. BlackRock Inc. now owns 19,968,824 shares of the utilities provider’s stock worth $2,206,556,000 after buying an additional 19,262,128 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Sempra Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,366,648 shares of the utilities provider’s stock worth $1,919,015,000 after buying an additional 596,498 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Sempra Energy by 17.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,581,705 shares of the utilities provider’s stock worth $395,778,000 after buying an additional 544,234 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Sempra Energy by 256.7% in the first quarter. First Trust Advisors LP now owns 666,515 shares of the utilities provider’s stock worth $73,650,000 after buying an additional 479,656 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Sempra Energy by 4.9% in the first quarter. Wellington Management Group LLP now owns 8,542,152 shares of the utilities provider’s stock worth $943,907,000 after buying an additional 400,464 shares during the last quarter. 80.54% of the stock is owned by institutional investors.
Shares of Sempra Energy (NYSE SRE) opened at 116.55 on Friday. Sempra Energy has a 12-month low of $92.95 and a 12-month high of $117.97. The firm has a market cap of $29.26 billion, a PE ratio of 17.24 and a beta of 0.54. The company has a 50 day moving average price of $113.93 and a 200-day moving average price of $111.72.
Sempra Energy (NYSE:SRE) last released its earnings results on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the firm earned $0.79 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts expect that Sempra Energy will post $5.23 EPS for the current year.
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A number of brokerages have issued reports on SRE. BidaskClub downgraded Sempra Energy from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research downgraded Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Barclays PLC downgraded Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price for the company. in a report on Thursday, June 8th. Morgan Stanley boosted their price target on Sempra Energy from $129.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, May 8th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $117.00 price target on shares of Sempra Energy in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sempra Energy presently has an average rating of “Buy” and an average target price of $121.00.
In other Sempra Energy news, CEO Debra L. Reed sold 23,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total value of $2,608,890.00. Following the transaction, the chief executive officer now directly owns 112,345 shares of the company’s stock, valued at approximately $12,743,293.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by company insiders.
About Sempra Energy
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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