TIAA CREF Investment Management LLC lowered its position in Sempra Energy (NYSE:SRE) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,386,965 shares of the utilities provider’s stock after selling 541,760 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.54% of Sempra Energy worth $148,294,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Sempra Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 20,631,499 shares of the utilities provider’s stock valued at $2,205,919,000 after purchasing an additional 475,879 shares during the period. Capital International Investors boosted its stake in Sempra Energy by 14.8% during the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock worth $1,308,797,000 after buying an additional 1,474,282 shares during the period. Parnassus Investments CA boosted its stake in Sempra Energy by 22.1% during the fourth quarter. Parnassus Investments CA now owns 4,398,413 shares of the utilities provider’s stock worth $470,278,000 after buying an additional 796,352 shares during the period. Geode Capital Management LLC boosted its stake in Sempra Energy by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 2,656,308 shares of the utilities provider’s stock worth $283,424,000 after buying an additional 85,865 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Sempra Energy by 8.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,559,513 shares of the utilities provider’s stock worth $273,662,000 after buying an additional 199,223 shares during the period. 82.43% of the stock is owned by hedge funds and other institutional investors.
SRE has been the subject of several research analyst reports. Zacks Investment Research raised shares of Sempra Energy from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research note on Tuesday. Guggenheim reaffirmed a “buy” rating and set a $122.00 target price on shares of Sempra Energy in a research note on Friday, February 23rd. UBS initiated coverage on shares of Sempra Energy in a research note on Friday, February 2nd. They set a “buy” rating and a $124.00 target price for the company. Wells Fargo reaffirmed a “buy” rating and set a $121.00 target price (down previously from $130.00) on shares of Sempra Energy in a research note on Wednesday, January 3rd. Finally, TheStreet lowered shares of Sempra Energy from a “b-” rating to a “c” rating in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $120.09.
In related news, Chairman Debra L. Reed sold 49,909 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $110.37, for a total value of $5,508,456.33. Following the sale, the chairman now owns 177,227 shares of the company’s stock, valued at $19,560,543.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP G Joyce Rowland sold 3,948 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The shares were 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 directly owns 2,655 shares in the company, valued at approximately $291,545.55. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 235,000 shares of company stock worth $23,000. 0.17% of the stock is owned by corporate insiders.
Shares of NYSE SRE traded down $0.40 during midday trading on Friday, hitting $111.13. The company’s stock had a trading volume of 2,084,279 shares, compared to its average volume of 1,789,281. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.46 and a current ratio of 0.50. Sempra Energy has a 1 year low of $100.63 and a 1 year high of $122.97. The firm has a market cap of $28,476.31, a price-to-earnings ratio of 20.50, a PEG ratio of 2.21 and a beta of 0.49.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.14. Sempra Energy had a net margin of 2.28% and a return on equity of 8.86%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts predict that Sempra Energy will post 5.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Friday, March 23rd will be paid a $0.895 dividend. This is a positive change 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 dividend yield of 3.22%. Sempra Energy’s dividend payout ratio (DPR) is presently 66.05%.
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Sempra Energy Profile
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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