Brookfield Asset Management Inc. raised its stake in shares of Sempra Energy (NYSE:SRE) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,039,732 shares of the utilities provider’s stock after acquiring an additional 126,286 shares during the quarter. Brookfield Asset Management Inc. owned approximately 0.39% of Sempra Energy worth $115,639,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new position in Sempra Energy during the 4th quarter valued at $116,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Sempra Energy during the 1st quarter valued at $145,000. Focused Wealth Management Inc bought a new position in Sempra Energy during the 4th quarter valued at $160,000. Sequoia Wealth Management LLC bought a new position in Sempra Energy during the 4th quarter valued at $200,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Sempra Energy during the 1st quarter valued at $208,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.
Sempra Energy stock opened at $111.91 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.34 and a current ratio of 0.37. Sempra Energy has a 1 year low of $100.49 and a 1 year high of $122.97. The stock has a market capitalization of $29.56 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 2.35 and a beta of 0.47.
In related news, VP G Joyce Rowland sold 3,948 shares of the stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $109.81, for a total value of $433,529.88. Following the sale, the vice president now owns 2,655 shares of the company’s stock, valued at approximately $291,545.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William G. Ouchi sold 1,918 shares of the stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $104.80, for a total transaction of $201,006.40. Following the completion of the sale, the director now directly owns 14,954 shares in the company, valued at approximately $1,567,179.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,775 shares of company stock worth $6,142,993. Insiders own 0.17% of the company’s stock.
SRE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Sempra Energy from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, March 28th. ValuEngine upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. JPMorgan Chase & Co. reduced their price objective on shares of Sempra Energy from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, June 4th. TheStreet downgraded shares of Sempra Energy from a “b-” rating to a “c” rating in a research note on Tuesday, February 27th. Finally, Wells Fargo & Co downgraded shares of Sempra Energy from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $118.00 to $123.00 in a research note on Tuesday, June 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $121.50.
Sempra Energy Company 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 engages in the generation, transmission, and distribution of electricity.
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