State of Michigan Retirement System increased its stake in shares of Sempra Energy (NYSE:SRE) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,688 shares of the utilities provider’s stock after buying an additional 10,150 shares during the quarter. State of Michigan Retirement System’s holdings in Sempra Energy were worth $8,756,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in shares of Sempra Energy in the second quarter valued at approximately $2,785,000. Lucia Wealth Services LLC increased its position in Sempra Energy by 33.0% in the 2nd quarter. Lucia Wealth Services LLC now owns 815 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 202 shares during the period. Miller Howard Investments Inc. NY raised its stake in Sempra Energy by 1.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 52,506 shares of the utilities provider’s stock valued at $6,155,000 after acquiring an additional 713 shares in the last quarter. Intact Investment Management Inc. boosted its position in Sempra Energy by 9.2% during the 2nd quarter. Intact Investment Management Inc. now owns 41,400 shares of the utilities provider’s stock worth $4,851,000 after acquiring an additional 3,500 shares during the period. Finally, Cornerstone Advisors Inc. grew its stake in shares of Sempra Energy by 8.9% in the second quarter. Cornerstone Advisors Inc. now owns 1,109 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.
In related news, CFO Trevor I. Mihalik sold 10,281 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $124.16, for a total transaction of $1,276,488.96. Following the transaction, the chief financial officer now directly owns 15,464 shares of the company’s stock, valued at $1,920,010.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.
SRE has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Sempra Energy from $160.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Seaport Global Securities assumed coverage on shares of Sempra Energy in a research note on Monday, June 15th. They issued a “buy” rating and a $142.00 price target for the company. Citigroup dropped their target price on Sempra Energy from $152.00 to $133.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Bank of America raised Sempra Energy from a “neutral” rating to a “buy” rating and set a $135.00 price target for the company in a research note on Friday, June 12th. Finally, Morgan Stanley boosted their price objective on Sempra Energy from $140.00 to $143.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $146.13.
SRE stock opened at $124.46 on Friday. Sempra Energy has a one year low of $88.00 and a one year high of $161.87. The firm has a 50-day moving average of $121.35 and a two-hundred day moving average of $130.50. The firm has a market capitalization of $36.41 billion, a PE ratio of 15.22, a P/E/G ratio of 2.30 and a beta of 0.71. The company has a current ratio of 0.45, a quick ratio of 0.43 and a debt-to-equity ratio of 1.02.
Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $3.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.82. Sempra Energy had a net margin of 22.32% and a return on equity of 11.30%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Sempra Energy will post 7.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th were given a $1.045 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $4.18 annualized dividend and a dividend yield of 3.36%. Sempra Energy’s dividend payout ratio (DPR) is presently 61.65%.
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 generates, transmits, and distributes electricity; and supplies natural gas.
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