Algert Global LLC Buys New Holdings in Sempra Energy $SRE

Key Points

• Algert Global LLC purchased a new stake in Sempra Energy, acquiring 4,080 shares valued at around $291,000, signaling institutional interest in the company.
• Wall Street analysts have rated Sempra Energy with a consensus of "Moderate Buy" and an average price target of $81.58, with significant recent upgrades from Citigroup and BMO Capital Markets.
• Sempra Energy reported $0.89 EPS for the last quarter, which exceeded expectations, although its revenue slightly declined year-over-year, amounting to $3 billion.

Algert Global LLC bought a new stake in Sempra Energy (NYSE:SRE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,080 shares of the utilities provider's stock, valued at approximately $291,000.

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

Wall Street Analysts Forecast Growth

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

Sempra Energy Stock Down 1.3%

Shares of SRE opened at $81.80 on Tuesday. Sempra Energy has a 12 month low of $61.90 and a 12 month high of $95.77. The firm's 50 day moving average is $78.39 and its 200-day moving average is $75.65. The stock has a market capitalization of $53.37 billion, a PE ratio of 19.76, a P/E/G ratio of 2.32 and a beta of 0.62. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93.

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

Insider Activity at Sempra Energy

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 shares were sold at an average price of $82.01, for a total transaction of $419,399.14. Following the transaction, the executive vice president directly owned 39,380 shares of the company's stock, valued at approximately $3,229,553.80. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Alexander Lisa Larroque sold 1,576 shares of Sempra Energy stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the completion of the transaction, the senior vice president directly owned 15,600 shares in the company, valued at $1,248,000. This trade represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

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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