Assenagon Asset Management S.A. Boosts Holdings in Sempra Energy $SRE

Key Points

• Assenagon Asset Management increased its Sempra Energy stake by 63.3% in the first quarter, buying 14,055 additional shares and bringing its total to 36,263 shares worth about $3.5 million.
• Other institutional investors also boosted holdings, and about 89.65% of Sempra’s stock is now owned by hedge funds and other institutions.
• Sempra recently reported Q1 EPS of $1.51, matching estimates, while revenue came in below expectations; the company also declared a quarterly dividend of $0.6575 per share and analysts maintain a Moderate Buy consensus with an average target price of $102.75.

Assenagon Asset Management S.A. raised its position in Sempra Energy (NYSE:SRE - Free Report) by 63.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,263 shares of the utilities provider's stock after purchasing an additional 14,055 shares during the period. Assenagon Asset Management S.A.'s holdings in Sempra Energy were worth $3,524,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC lifted its position in Sempra Energy by 52.5% during the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider's stock valued at $1,285,000 after purchasing an additional 6,196 shares during the last quarter. Woodline Partners LP raised its position in shares of Sempra Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider's stock valued at $3,819,000 after buying an additional 15,474 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Sempra Energy by 6.2% during the 2nd quarter. Baird Financial Group Inc. now owns 14,699 shares of the utilities provider's stock valued at $1,114,000 after buying an additional 858 shares in the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Sempra Energy by 78.5% during the 2nd quarter. Cary Street Partners Financial LLC now owns 771 shares of the utilities provider's stock worth $58,000 after acquiring an additional 339 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Sempra Energy by 80.0% during the 2nd quarter. Sei Investments Co. now owns 423,280 shares of the utilities provider's stock worth $32,072,000 after acquiring an additional 188,131 shares during the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Justin Christopher Bird sold 1,128 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $96.69, for a total value of $109,066.32. Following the completion of the sale, the executive vice president owned 21,632 shares of the company's stock, valued at $2,091,598.08. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Diana L. Day sold 3,300 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $92.13, for a total transaction of $304,029.00. Following the completion of the transaction, the insider owned 22,870 shares of the company's stock, valued at $2,107,013.10. This trade represents a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,028 shares of company stock worth $1,370,273 in the last ninety days. Insiders own 0.31% of the company's stock.

Sempra Energy Trading Down 0.4%

NYSE:SRE opened at $93.88 on Tuesday. The firm has a market capitalization of $61.37 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.27 and a beta of 0.57. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $91.88 and a 200 day moving average of $91.82. Sempra Energy has a 52 week low of $73.18 and a 52 week high of $101.04.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $1.51 EPS for the quarter, meeting the consensus estimate of $1.51. Sempra Energy had a net margin of 14.31% and a return on equity of 8.20%. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The company's quarterly revenue was down 3.9% compared to the same quarter last year. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. On average, research analysts predict that Sempra Energy will post 5.11 earnings per share for the current year.

Sempra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Thursday, June 25th will be issued a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, June 25th. Sempra Energy's dividend payout ratio is currently 89.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SRE shares. UBS Group reissued a "neutral" rating and issued a $100.00 target price (up from $96.00) on shares of Sempra Energy in a research note on Friday, March 6th. JPMorgan Chase & Co. lifted their price target on Sempra Energy from $98.00 to $106.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 18th. Morgan Stanley reiterated an "overweight" rating and issued a $105.00 price objective on shares of Sempra Energy in a report on Wednesday, June 24th. Wall Street Zen raised Sempra Energy from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. Finally, Argus upgraded Sempra Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Sempra Energy currently has a consensus rating of "Moderate Buy" and an average target price of $102.75.

Sempra Energy Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company's product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.

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