Ameriprise Financial Inc. reduced its position in Sempra Energy (NYSE:SRE) by 80.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,576 shares of the utilities provider’s stock after selling 558,219 shares during the period. Ameriprise Financial Inc. owned about 0.05% of Sempra Energy worth $15,406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRE. Bessemer Group Inc. grew its holdings in Sempra Energy by 4.8% during the 2nd quarter. Bessemer Group Inc. now owns 5,766 shares of the utilities provider’s stock valued at $651,000 after buying an additional 266 shares during the last quarter. Beach Investment Management LLC. grew its holdings in Sempra Energy by 959.7% during the 2nd quarter. Beach Investment Management LLC. now owns 125,148 shares of the utilities provider’s stock valued at $14,110,000 after buying an additional 113,338 shares during the last quarter. Global X Management Co. LLC grew its holdings in Sempra Energy by 13.2% during the 2nd quarter. Global X Management Co. LLC now owns 2,481 shares of the utilities provider’s stock valued at $280,000 after buying an additional 289 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Sempra Energy by 4.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 835,703 shares of the utilities provider’s stock valued at $94,226,000 after buying an additional 38,379 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Sempra Energy by 78.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 7,365 shares of the utilities provider’s stock valued at $830,000 after buying an additional 3,228 shares during the last quarter. 80.62% of the stock is owned by hedge funds and other institutional investors.
Sempra Energy (SRE) traded up $0.54 during mid-day trading on Friday, hitting $115.78. The stock had a trading volume of 1,191,700 shares, compared to its average volume of 1,138,884. Sempra Energy has a 1-year low of $99.48 and a 1-year high of $122.97. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $28,934.18, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.04. Sempra Energy had a return on equity of 8.81% and a net margin of 10.22%. The business had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. sell-side analysts forecast that Sempra Energy will post 5.24 EPS for the current year.
SRE has been the topic of a number of analyst reports. Bank of America initiated coverage on Sempra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $125.00 target price on the stock. J P Morgan Chase & Co increased their target price on Sempra Energy from $123.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Wells Fargo & Company lowered their target price on Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, October 10th. Goldman Sachs Group upgraded Sempra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $117.00 to $129.00 in a report on Wednesday, October 11th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Sempra Energy in a report on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Sempra Energy has an average rating of “Buy” and an average target price of $124.56.
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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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