1832 Asset Management L.P. Purchases 104,455 Shares of Sempra Energy $SRE

Key Points

• 1832 Asset Management L.P. increased its stake in Sempra Energy by 77.9% after purchasing an additional 104,455 shares, bringing its total holdings to 238,555 shares valued at approximately $17 million.
• Analysts have mixed ratings on Sempra Energy, with a consensus target price of $81.58 and seven analysts rating it a Buy, while others maintain a Hold position.
• Sempra Energy reported quarterly earnings of $0.89 per share, surpassing expectations, although its revenue was down 0.4% year-over-year.

1832 Asset Management L.P. grew its position in shares of Sempra Energy (NYSE:SRE - Free Report) by 77.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,555 shares of the utilities provider's stock after purchasing an additional 104,455 shares during the quarter. 1832 Asset Management L.P.'s holdings in Sempra Energy were worth $17,023,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in shares of Sempra Energy during the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new position in Sempra Energy during the 1st quarter worth approximately $38,000. Park Square Financial Group LLC bought a new position in Sempra Energy during the 4th quarter worth approximately $41,000. Eastern Bank grew its position in Sempra Energy by 73.7% during the 1st quarter. Eastern Bank now owns 580 shares of the utilities provider's stock worth $41,000 after acquiring an additional 246 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in Sempra Energy during the 4th quarter worth approximately $56,000. 89.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SRE shares. Morgan Stanley restated an "overweight" rating and set a $88.00 price target (up from $87.00) on shares of Sempra Energy in a research report on Wednesday, June 18th. Barclays reduced their price target on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Citigroup restated a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Finally, BMO Capital Markets raised their price target on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $81.58.

Sempra Energy Trading Up 2.1%

NYSE SRE opened at $82.8240 on Friday. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.41 and a current ratio of 0.48. The stock has a 50 day simple moving average of $78.23 and a two-hundred day simple moving average of $75.69. The stock has a market cap of $54.04 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62.

Sempra Energy (NYSE:SRE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last year, the business posted $0.89 EPS. The business's revenue was down .4% on a year-over-year basis. On average, analysts forecast that Sempra Energy will post 4.76 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Caroline Ann Winn sold 5,114 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $82.01, for a total value of $419,399.14. Following the completion of the transaction, the executive vice president owned 39,380 shares in the company, valued at $3,229,553.80. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total value of $126,080.00. Following the completion of the transaction, the senior vice president owned 15,600 shares of the company's stock, valued at approximately $1,248,000. The trade was a 9.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Sempra Energy Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.

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