Cinctive Capital Management LP Sells 58,075 Shares of Sempra Energy $SRE

Key Points

• Cinctive Capital Management LP has reduced its stake in Sempra Energy by 31.7%, selling 58,075 shares, and now holds 125,011 shares valued at approximately $8.9 million.
• Major institutional investors like Vanguard Group and Wellington Management have increased their holdings in Sempra Energy, with Vanguard boosting its stake by 1.9% and Wellington by 26.8%.
• Sempra Energy's latest earnings report showed an EPS of $0.89, exceeding analysts' expectations but with a slight 0.4% decline in revenue compared to the previous year.

Cinctive Capital Management LP cut its holdings in shares of Sempra Energy (NYSE:SRE - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,011 shares of the utilities provider's stock after selling 58,075 shares during the period. Cinctive Capital Management LP's holdings in Sempra Energy were worth $8,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Corvex Management LP acquired a new position in shares of Sempra Energy during the first quarter worth approximately $75,364,000. AQR Capital Management LLC boosted its position in shares of Sempra Energy by 351.9% during the first quarter. AQR Capital Management LLC now owns 241,144 shares of the utilities provider's stock worth $16,911,000 after buying an additional 187,777 shares during the period. Federation des caisses Desjardins du Quebec boosted its position in shares of Sempra Energy by 3.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 39,183 shares of the utilities provider's stock worth $2,796,000 after buying an additional 1,266 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Sempra Energy by 1.4% during the first quarter. EP Wealth Advisors LLC now owns 357,181 shares of the utilities provider's stock worth $25,488,000 after buying an additional 4,974 shares during the period. Finally, GW Henssler & Associates Ltd. boosted its position in shares of Sempra Energy by 5.2% during the first quarter. GW Henssler & Associates Ltd. now owns 342,183 shares of the utilities provider's stock worth $24,418,000 after buying an additional 16,946 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Energy Stock Down 2.1%

Shares of NYSE SRE traded down $1.67 during mid-day trading on Monday, reaching $79.44. The company had a trading volume of 4,815,168 shares, compared to its average volume of 4,465,359. The stock has a market capitalization of $51.83 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.58 and a beta of 0.65. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.77. The stock's 50 day moving average is $79.68 and its 200-day moving average is $75.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.41 and a current ratio of 0.48.

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

Insiders Place Their Bets

In related news, EVP Caroline Ann Winn sold 5,114 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the completion of the sale, the executive vice president directly owned 39,380 shares in the company, valued at approximately $3,229,553.80. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the sale, the senior vice president owned 15,600 shares of the company's stock, 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. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup reiterated a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Morgan Stanley reissued an "overweight" rating on shares of Sempra Energy in a report on Thursday, August 21st. BMO Capital Markets boosted their target price on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Barclays boosted their target price on Sempra Energy from $71.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 26th. 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.33.

Sempra Energy 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.