Paloma Partners Management Co trimmed its position in shares of Sempra Energy (NYSE:SRE) by 90.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,401 shares of the utilities provider’s stock after selling 155,063 shares during the quarter. Paloma Partners Management Co’s holdings in Sempra Energy were worth $1,754,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. MHI Funds LLC purchased a new position in Sempra Energy during the 4th quarter valued at about $130,000. Front Row Advisors LLC purchased a new position in Sempra Energy during the 4th quarter valued at about $130,000. Calton & Associates Inc. purchased a new position in Sempra Energy during the 4th quarter valued at about $139,000. Fieldpoint Private Securities LLC purchased a new position in Sempra Energy during the 3rd quarter valued at about $153,000. Finally, Focused Wealth Management Inc purchased a new position in shares of Sempra Energy in the 4th quarter valued at about $160,000. Institutional investors own 82.43% of the company’s stock.
Several brokerages have recently issued reports on SRE. Zacks Investment Research cut Sempra Energy from a “buy” rating to a “hold” rating in a research note on Friday. Bank of America cut Sempra Energy from a “buy” rating to a “hold” rating and set a $112.00 price objective for the company. in a research note on Thursday, December 28th. JPMorgan Chase reiterated a “neutral” rating and issued a $104.00 price objective (down previously from $112.00) on shares of Sempra Energy in a research note on Tuesday, March 6th. Guggenheim reiterated a “buy” rating and issued a $122.00 price objective on shares of Sempra Energy in a research note on Friday, February 23rd. Finally, Wells Fargo reiterated a “buy” rating and issued a $120.00 price objective (down previously from $121.00) on shares of Sempra Energy in a research note on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $120.09.
In related news, VP G Joyce Rowland sold 3,948 shares of the business’s stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $109.81, for a total transaction of $433,529.88. Following the completion of the sale, the vice president now owns 2,655 shares in the company, valued at $291,545.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Debra L. Reed sold 49,909 shares of Sempra Energy stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $110.37, for a total value of $5,508,456.33. Following the transaction, the chairman now directly owns 177,227 shares in the company, valued at approximately $19,560,543.99. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 235,000 shares of company stock valued at $23,000. 0.17% of the stock is owned by company insiders.
SRE stock opened at $111.13 on Friday. The company has a market cap of $28,172.47, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. Sempra Energy has a fifty-two week low of $100.63 and a fifty-two week high of $122.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.50 and a quick ratio of 0.46.
Sempra Energy (NYSE:SRE) last posted its earnings results on Tuesday, February 27th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Sempra Energy had a return on equity of 8.86% and a net margin of 2.28%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 earnings per share. sell-side analysts anticipate that Sempra Energy will post 5.6 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Friday, March 23rd will be paid a dividend of $0.895 per share. This is a boost from Sempra Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $3.58 annualized dividend and a yield of 3.22%. Sempra Energy’s payout ratio is presently 66.05%.
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About Sempra Energy
Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.
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