Bank of America Corp DE Invests $957.06 Million in Sempra Energy $SRE

Key Points

• Bank of America acquired 10.3 million Sempra shares worth approximately $957.1 million during the second quarter, giving it a 1.58% stake. Institutional investors collectively own 89.65% of the company.
• Sempra reported quarterly EPS of $1.16, exceeding analyst expectations of $1.01, while revenue reached $3 billion and declined slightly year over year.
• Sempra declared a quarterly dividend of $0.6575 per share, equivalent to $2.63 annually and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $102.

Bank of America Corp DE purchased a new position in Sempra Energy (NYSE:SRE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,323,114 shares of the utilities provider's stock, valued at approximately $957,056,000. Bank of America Corp DE owned about 1.58% of Sempra Energy at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Bcwm LLC purchased a new stake in Sempra Energy during the second quarter valued at approximately $11,338,000. Freestone Grove Partners LP bought a new position in shares of Sempra Energy during the 2nd quarter valued at approximately $25,420,000. Caisse de depot et placement du Quebec bought a new stake in shares of Sempra Energy during the 2nd quarter valued at $155,820,000. Pointe Capital Management LLC purchased a new position in shares of Sempra Energy during the 2nd quarter valued at $494,000. Finally, Man Group plc bought a new position in Sempra Energy in the 2nd quarter worth $8,534,000. Institutional investors own 89.65% of the company's stock.

Sempra Energy Trading Down 0.5%

Shares of NYSE SRE opened at $82.95 on Tuesday. Sempra Energy has a fifty-two week low of $79.59 and a fifty-two week high of $101.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.62 and a current ratio of 1.64. The company has a market cap of $54.24 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.30 and a beta of 0.55. The business's 50 day moving average price is $87.71 and its 200-day moving average price is $91.44.

Sempra Energy (NYSE:SRE - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.14 billion. Sempra Energy had a return on equity of 8.49% and a net margin of 16.70%.Sempra Energy's revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. On average, sell-side analysts expect that Sempra Energy will post 5.12 earnings per share for the current year.

Sempra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, September 24th will be issued a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, September 24th. Sempra Energy's dividend payout ratio (DPR) is presently 76.23%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen started coverage on shares of Sempra Energy in a report on Wednesday, July 8th. They issued a "buy" rating on the stock. Mizuho reiterated a "neutral" rating and issued a $84.00 target price (down from $104.00) on shares of Sempra Energy in a research report on Monday, August 31st. Morgan Stanley cut their price target on Sempra Energy from $108.00 to $104.00 and set an "overweight" rating for the company in a report on Friday, August 21st. Truist Financial set a $96.00 price target on shares of Sempra Energy and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sempra Energy in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Sempra Energy presently has a consensus rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity

In related news, EVP Caroline Winn sold 8,000 shares of Sempra Energy stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the completion of the sale, the executive vice president directly owned 25,164 shares in the company, valued at $2,278,600.20. The trade was a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.31% of the company's stock.

Sempra Energy Company Profile

Sempra, formerly known as Sempra Energy, is an energy infrastructure company headquartered in San Diego, California. The company develops, owns and operates energy networks and infrastructure that support the delivery of natural gas and electricity, with operations focused primarily on North America.

Through its California utilities, Southern California Gas Company and San Diego Gas & Electric, Sempra provides natural gas distribution and electric services to residential, commercial and industrial customers.

Want to see what other hedge funds are holding SRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sempra Energy (NYSE:SRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.