The Manufacturers Life Insurance Company lowered its position in Sempra Energy (NYSE:SRE – Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 933,604 shares of the utilities provider’s stock after selling 7,732 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sempra Energy were worth $90,718,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SRE. Norges Bank purchased a new position in Sempra Energy during the fourth quarter worth about $914,924,000. Morgan Stanley grew its stake in shares of Sempra Energy by 17.0% in the 4th quarter. Morgan Stanley now owns 22,330,091 shares of the utilities provider’s stock valued at $1,971,524,000 after buying an additional 3,250,783 shares during the period. Invesco Ltd. grew its stake in shares of Sempra Energy by 40.1% in the 3rd quarter. Invesco Ltd. now owns 10,419,115 shares of the utilities provider’s stock valued at $937,512,000 after buying an additional 2,984,409 shares during the period. National Pension Service increased its holdings in shares of Sempra Energy by 246.4% during the 4th quarter. National Pension Service now owns 2,826,999 shares of the utilities provider’s stock worth $249,596,000 after buying an additional 2,010,853 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Sempra Energy by 5.2% during the 4th quarter. State Street Corp now owns 36,810,449 shares of the utilities provider’s stock worth $3,273,460,000 after buying an additional 1,824,280 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.
Sempra Energy Price Performance
Sempra Energy stock opened at $89.06 on Thursday. The company’s 50 day simple moving average is $91.89 and its 200-day simple moving average is $92.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 1.69. Sempra Energy has a 1 year low of $78.97 and a 1 year high of $101.04. The company has a market capitalization of $58.22 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.18 and a beta of 0.56.
Sempra Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were given a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Thursday, June 25th. Sempra Energy’s dividend payout ratio (DPR) is currently 89.15%.
Wall Street Analyst Weigh In
SRE has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $108.00 price objective on shares of Sempra Energy in a report on Wednesday, July 22nd. Barclays cut their target price on Sempra Energy from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Wall Street Zen upgraded Sempra Energy from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Truist Financial set a $104.00 price target on Sempra Energy and gave the company a “buy” rating in a research note on Monday, May 18th. Finally, Jefferies Financial Group set a $101.00 price target on Sempra Energy in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.23.
Insider Transactions at Sempra Energy
In related news, Director Pablo Ferrero sold 2,600 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $89.53, for a total value of $232,778.00. Following the sale, the director owned 15,423 shares in the company, valued at approximately $1,380,821.19. The trade was a 14.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Ann Winn sold 8,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the transaction, the executive vice president directly owned 25,164 shares in the company, valued at approximately $2,278,600.20. The trade was a 24.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,900 shares of company stock worth $1,261,207 over the last ninety days. Company insiders own 0.31% of the company’s stock.
About Sempra Energy
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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