Suntrust Banks Inc. increased its holdings in Sempra Energy (NYSE:SRE) by 66.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,726 shares of the utilities provider’s stock after purchasing an additional 10,660 shares during the quarter. Suntrust Banks Inc.’s holdings in Sempra Energy were worth $2,857,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. National Planning Corp grew its stake in shares of Sempra Energy by 17.3% in the third quarter. National Planning Corp now owns 2,965 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 438 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Sempra Energy by 10.6% in the third quarter. Private Advisor Group LLC now owns 4,786 shares of the utilities provider’s stock worth $539,000 after purchasing an additional 457 shares during the last quarter. DnB Asset Management AS grew its stake in shares of Sempra Energy by 1.5% in the fourth quarter. DnB Asset Management AS now owns 32,887 shares of the utilities provider’s stock worth $3,516,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Sempra Energy by 2.3% in the third quarter. CIBC Asset Management Inc now owns 22,800 shares of the utilities provider’s stock worth $2,602,000 after purchasing an additional 507 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its stake in shares of Sempra Energy by 16.9% in the fourth quarter. Mechanics Bank Trust Department now owns 3,555 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 515 shares during the last quarter. 79.58% of the stock is currently owned by institutional investors.
A number of analysts have commented on SRE shares. Guggenheim reaffirmed a “buy” rating and set a $122.00 price target on shares of Sempra Energy in a research report on Friday, February 23rd. UBS Group started coverage on shares of Sempra Energy in a research report on Friday, February 2nd. They set a “buy” rating and a $124.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. Wells Fargo & Co reaffirmed a “buy” rating and set a $121.00 price target (down previously from $130.00) on shares of Sempra Energy in a research report on Wednesday, January 3rd. Finally, Bank of America cut shares of Sempra Energy from a “buy” rating to a “hold” rating and set a $112.00 price target on the stock. in a research report on Thursday, December 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $121.90.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. equities research analysts expect that Sempra Energy will post 5.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Friday, March 23rd will be issued a dividend of $0.895 per share. The ex-dividend date is Thursday, March 22nd. This represents a $3.58 annualized dividend and a dividend yield of 3.25%. This is a positive change from Sempra Energy’s previous quarterly dividend of $0.82. Sempra Energy’s dividend payout ratio is currently 72.95%.
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Sempra Energy Profile
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
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