Zimmer Partners LP Takes $9.27 Million Position in Sempra Energy (NYSE:SRE)

Zimmer Partners LP acquired a new position in shares of Sempra Energy (NYSE:SRE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,650 shares of the utilities provider’s stock, valued at approximately $9,265,000.

A number of other hedge funds have also recently made changes to their positions in SRE. National Planning Corp raised its stake in Sempra Energy by 17.3% in the 3rd quarter. National Planning Corp now owns 2,965 shares of the utilities provider’s stock worth $338,000 after purchasing an additional 438 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Sempra Energy by 10.6% during the 3rd quarter. Private Advisor Group LLC now owns 4,786 shares of the utilities provider’s stock valued at $539,000 after purchasing an additional 457 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Sempra Energy by 1.5% during the 4th quarter. DnB Asset Management AS now owns 32,887 shares of the utilities provider’s stock valued at $3,516,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Sempra Energy by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 22,800 shares of the utilities provider’s stock valued at $2,602,000 after purchasing an additional 507 shares during the last quarter. Finally, Mechanics Bank Trust Department grew its holdings in shares of Sempra Energy by 16.9% during the 4th quarter. Mechanics Bank Trust Department now owns 3,555 shares of the utilities provider’s stock valued at $380,000 after purchasing an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.

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Shares of SRE stock opened at $111.13 on Friday. The firm has a market cap of $28,172.47, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.19 and a beta of 0.49. 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 has a 12 month low of $100.63 and a 12 month high of $122.97.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.14. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.82 billion. Sempra Energy had a net margin of 2.28% and a return on equity of 8.86%. Sempra Energy’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. analysts forecast that Sempra Energy will post 5.6 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Friday, March 23rd will be issued a $0.895 dividend. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.22%. This is an increase from Sempra Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Thursday, March 22nd. Sempra Energy’s dividend payout ratio is presently 66.05%.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Friday. TheStreet downgraded shares of Sempra Energy from a “b-” rating to a “c” rating in a research report on Tuesday, February 27th. Guggenheim reiterated a “buy” rating and set a $122.00 target price on shares of Sempra Energy in a research report on Friday, February 23rd. JPMorgan Chase restated a “neutral” rating and issued a $104.00 price target (down previously from $112.00) on shares of Sempra Energy in a research report on Tuesday, March 6th. Finally, Wells Fargo restated a “buy” rating and issued a $120.00 price target (down previously from $121.00) on shares of Sempra Energy in a research report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Sempra Energy currently has a consensus rating of “Buy” and an average price target of $120.09.

In other news, Chairman Debra L. Reed sold 49,909 shares of the stock in a transaction dated 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 directly owns 177,227 shares of the company’s stock, valued at $19,560,543.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP G Joyce Rowland sold 3,948 shares of the stock in a transaction dated 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 directly owns 2,655 shares in the company, valued at $291,545.55. The disclosure for this sale can be found here. Over the last three months, insiders bought 235,000 shares of company stock worth $23,000. Insiders own 0.17% of the company’s stock.

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Sempra Energy Company 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.

Institutional Ownership by Quarter for Sempra Energy (NYSE:SRE)

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