Concert Wealth Management Inc. increased its position in Sempra Energy (NYSE:SRE) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,805 shares of the company’s stock after buying an additional 933 shares during the period. Concert Wealth Management Inc.’s holdings in Sempra Energy were worth $2,144,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of SRE. Conning Inc. raised its stake in shares of Sempra Energy by 0.4% in the second quarter. Conning Inc. now owns 5,631 shares of the company’s stock worth $642,000 after buying an additional 20 shares in the last quarter. Boothbay Fund Management LLC raised its stake in Sempra Energy by 6.6% in the first quarter. Boothbay Fund Management LLC now owns 4,533 shares of the company’s stock valued at $472,000 after buying an additional 281 shares in the last quarter. IBM Retirement Fund raised its stake in Sempra Energy by 1.2% in the second quarter. IBM Retirement Fund now owns 32,582 shares of the company’s stock valued at $3,830,000 after buying an additional 396 shares in the last quarter. UMB Bank N A MO raised its stake in Sempra Energy by 4.9% in the second quarter. UMB Bank N A MO now owns 9,323 shares of the company’s stock valued at $1,063,000 after buying an additional 437 shares in the last quarter. Finally, Mechanics Bank Trust Department raised its stake in Sempra Energy by 19.6% in the second quarter. Mechanics Bank Trust Department now owns 2,895 shares of the company’s stock valued at $330,000 after buying an additional 475 shares in the last quarter. 79.54% of the stock is owned by institutional investors.
Shares of Sempra Energy (NYSE:SRE) traded down 0.06% during midday trading on Friday, hitting $103.03. 602,178 shares of the company traded hands. The stock’s 50-day moving average is $106.22 and its 200 day moving average is $107.03. Sempra Energy has a 12-month low of $86.72 and a 12-month high of $114.66. The stock has a market capitalization of $25.77 billion, a P/E ratio of 27.21 and a beta of 0.49.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by $0.18. The company earned $2.16 billion during the quarter, compared to analyst estimates of $2.62 billion. Sempra Energy had a net margin of 9.56% and a return on equity of 9.49%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS. On average, analysts expect that Sempra Energy will post $4.77 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 29th will be given a $0.755 dividend. This represents a $3.02 annualized dividend and a yield of 2.93%. The ex-dividend date is Tuesday, September 27th. Sempra Energy’s payout ratio is presently 79.68%.
Several analysts recently commented on SRE shares. Zacks Investment Research raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Goldman Sachs Group Inc. lowered shares of Sempra Energy from a “conviction-buy” rating to a “neutral” rating and cut their target price for the company from $109.90 to $109.46 in a research note on Sunday, June 12th. Finally, Argus reissued a “buy” rating on shares of Sempra Energy in a research note on Tuesday, September 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $110.87.
In other Sempra Energy news, SVP Trevor I. Mihalik sold 5,659 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $106.86, for a total value of $604,720.74. Following the completion of the sale, the senior vice president now owns 2,615 shares in the company, valued at approximately $279,438.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Rutledge sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $107.20, for a total transaction of $536,000.00. Following the completion of the sale, the director now owns 10,838 shares of the company’s stock, valued at approximately $1,161,833.60. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.
About Sempra Energy
Sempra Energy is a holding company. The Company’s principal operating units are San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas); Sempra International, which includes Sempra South American Utilities and Sempra Mexico segments, and Sempra U.S. Gas & Power, which includes Sempra Renewables and Sempra Natural Gas segments.
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