AMI Asset Management Corp Increases Position in Sempra Energy (NYSE:SRE)

AMI Asset Management Corp grew its holdings in Sempra Energy (NYSE:SRE) by 61.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,652 shares of the utilities provider’s stock after buying an additional 4,034 shares during the period. AMI Asset Management Corp’s holdings in Sempra Energy were worth $760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prudent Man Investment Management Inc. purchased a new stake in shares of Sempra Energy in the fourth quarter valued at about $26,000. Synergy Investment Management LLC purchased a new stake in shares of Sempra Energy in the fourth quarter valued at about $29,000. TCTC Holdings LLC raised its holdings in shares of Sempra Energy by 265.2% in the fourth quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider’s stock valued at $29,000 after buying an additional 244 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Sempra Energy in the fourth quarter valued at about $29,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Sempra Energy in the fourth quarter valued at about $30,000. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Energy Trading Down 1.3%

Shares of SRE opened at $75.10 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm’s 50-day moving average is $75.56 and its two-hundred day moving average is $77.49. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.77. The firm has a market capitalization of $48.96 billion, a P/E ratio of 16.51, a PEG ratio of 2.05 and a beta of 0.64.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.90 billion. Sempra Energy had a net margin of 22.15% and a return on equity of 8.55%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.34 earnings per share. On average, research analysts predict that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Sempra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, June 26th will be given a dividend of $0.645 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a yield of 3.44%. Sempra Energy’s dividend payout ratio (DPR) is currently 56.70%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays cut shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $95.00 to $72.00 in a report on Thursday, February 27th. Wells Fargo & Company cut their price target on shares of Sempra Energy from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Jefferies Financial Group cut their price target on shares of Sempra Energy from $77.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, April 15th. Morgan Stanley reissued an “overweight” rating and set a $88.00 price target (up from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Finally, Citigroup cut their price target on shares of Sempra Energy from $93.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $80.83.

Insider Buying and Selling

In related news, EVP Justin Christopher Bird sold 4,817 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $71.23, for a total transaction of $343,114.91. Following the sale, the executive vice president now owns 19,778 shares in the company, valued at approximately $1,408,786.94. This trade represents a 19.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Diana L. Day sold 8,015 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total transaction of $595,193.90. Following the sale, the insider now owns 16,969 shares in the company, valued at approximately $1,260,117.94. This trade represents a 32.08% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

About Sempra Energy

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.