Covington Capital Management increased its stake in Sempra Energy (NYSE:SRE) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,069 shares of the utilities provider’s stock after purchasing an additional 2,800 shares during the period. Covington Capital Management’s holdings in Sempra Energy were worth $4,067,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of SRE. Bronfman E.L. Rothschild L.P. increased its position in shares of Sempra Energy by 27.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 202 shares during the last quarter. Guardian Life Insurance Co. of America grew its position in Sempra Energy by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 6 shares during the last quarter. Grove Bank & Trust grew its position in Sempra Energy by 38.3% during the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 286 shares during the last quarter. WESPAC Advisors SoCal LLC grew its position in Sempra Energy by 0.7% during the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 9 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Sempra Energy by 49.7% during the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 80.80% of the company’s stock.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $0.80 by $0.30. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 22nd will be paid a dividend of $0.8225 per share. The ex-dividend date is Thursday, September 21st. This represents a $3.29 annualized dividend and a yield of 2.84%. Sempra Energy’s dividend payout ratio (DPR) is 48.74%.
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SRE has been the topic of a number of recent research reports. BidaskClub upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $117.00 price target on shares of Sempra Energy in a research report on Monday, July 24th. Morgan Stanley increased their price target on shares of Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Wells Fargo & Company reduced their price target on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, J P Morgan Chase & Co reduced their price target on shares of Sempra Energy from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $124.22.
Sempra Energy Company 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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