Morey & Quinn Wealth Partners LLC Reduces Position in Sempra Energy $SRE

Morey & Quinn Wealth Partners LLC cut its position in Sempra Energy (NYSE:SRE) by 7.0% during the second quarter, HoldingsChannel reports. The firm owned 2,650 shares of the utilities provider’s stock after selling 200 shares during the quarter. Morey & Quinn Wealth Partners LLC’s holdings in Sempra Energy were worth $201,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SRE. Wesbanco Bank Inc. increased its position in shares of Sempra Energy by 5.1% in the 1st quarter. Wesbanco Bank Inc. now owns 3,212 shares of the utilities provider’s stock valued at $229,000 after purchasing an additional 156 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Sempra Energy by 65.1% in the 1st quarter. Farther Finance Advisors LLC now owns 5,191 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 2,046 shares during the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Sempra Energy in the 1st quarter valued at approximately $384,000. SG Americas Securities LLC increased its position in shares of Sempra Energy by 462.0% in the 1st quarter. SG Americas Securities LLC now owns 10,548 shares of the utilities provider’s stock valued at $753,000 after purchasing an additional 8,671 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. increased its position in shares of Sempra Energy by 3.2% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 5,722 shares of the utilities provider’s stock valued at $408,000 after purchasing an additional 178 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Energy Stock Down 0.7%

SRE stock opened at $93.36 on Thursday. The company has a fifty day moving average price of $83.94 and a 200 day moving average price of $77.74. Sempra Energy has a 12 month low of $61.90 and a 12 month high of $95.77. The company has a market cap of $60.91 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Sempra Energy’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, October 1st. Sempra Energy’s payout ratio is currently 62.32%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SRE. Barclays increased their price objective on shares of Sempra Energy from $71.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 26th. Morgan Stanley restated an “overweight” rating and set a $93.00 price objective (up previously from $86.00) on shares of Sempra Energy in a research report on Wednesday, September 24th. Citigroup restated a “neutral” rating and set a $80.00 price objective (up previously from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Sempra Energy from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Sempra Energy presently has an average rating of “Hold” and a consensus target price of $86.09.

Insider Buying and Selling at Sempra Energy

In other Sempra Energy news, EVP Caroline Ann Winn sold 5,114 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the transaction, the executive vice president directly owned 39,380 shares of the company’s stock, valued at approximately $3,229,553.80. The trade was a 11.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the completion of the transaction, the senior vice president directly owned 15,600 shares in the company, valued at $1,248,000. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,987 shares of company stock valued at $4,267,870. 0.27% of the stock is owned by company insiders.

Sempra Energy Company Profile

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.