Bank of Nova Scotia Makes New $6.23 Million Investment in Sempra Energy $SRE

Bank of Nova Scotia purchased a new stake in shares of Sempra Energy (NYSE:SRE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 67,195 shares of the utilities provider's stock, valued at approximately $6,230,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Sempra Energy in the second quarter valued at $5,588,577,000. Norges Bank acquired a new stake in shares of Sempra Energy during the fourth quarter worth about $914,924,000. Deutsche Bank AG acquired a new stake in shares of Sempra Energy during the second quarter worth about $896,599,000. Bank of New York Mellon Corp purchased a new stake in shares of Sempra Energy in the 2nd quarter valued at about $465,202,000. Finally, Morgan Stanley lifted its holdings in shares of Sempra Energy by 17.0% in the 4th quarter. Morgan Stanley now owns 22,330,091 shares of the utilities provider's stock valued at $1,971,524,000 after purchasing an additional 3,250,783 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sempra Energy news, EVP Caroline Ann Winn sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total transaction of $724,400.00. Following the transaction, the executive vice president owned 25,164 shares in the company, valued at approximately $2,278,600.20. The trade was a 24.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised Sempra Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Morgan Stanley cut their price target on Sempra Energy from $108.00 to $104.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Sempra Energy in a research note on Friday, July 17th. BMO Capital Markets set a $102.00 price objective on Sempra Energy and gave the company an "outperform" rating in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $101.00 target price on shares of Sempra Energy in a research report on Thursday, July 16th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $103.62.

Sempra Energy Stock Down 0.6%

Sempra Energy stock opened at $84.03 on Wednesday. The stock has a 50 day moving average of $90.01 and a two-hundred day moving average of $92.19. Sempra Energy has a twelve month low of $78.97 and a twelve month high of $101.04. The stock has a market capitalization of $54.95 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.03 and a beta of 0.57. The company has a current ratio of 1.64, a quick ratio of 1.62 and a debt-to-equity ratio of 0.78.

Sempra Energy (NYSE:SRE - Get Free Report) last released its earnings results 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. Sempra Energy had a return on equity of 8.49% and a net margin of 16.70%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company's revenue for the quarter was down .1% 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 4.800-5.300 EPS. As a group, research analysts expect that Sempra Energy will post 5.12 earnings per share for the current year.

Sempra Energy Company 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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