Sempra Energy $SRE Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Sempra Energy by 3.0%, owning 141,271 shares valued at approximately $10.08 million after selling 4,304 shares in the first quarter.
• Insider activity includes the sale of shares by EVP Caroline Ann Winn and SVP Alexander Lisa Larroque, both of whom reported declines in their positions of 11.49% and 9.18%, respectively.
• Sempra Energy reported earnings of $0.89 per share, beating analyst expectations, and has a market capitalization of $53.72 billion with a price-to-earnings ratio of 19.89.

Corebridge Financial Inc. trimmed its holdings in Sempra Energy (NYSE:SRE - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,271 shares of the utilities provider's stock after selling 4,304 shares during the quarter. Corebridge Financial Inc.'s holdings in Sempra Energy were worth $10,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Freedom Investment Management Inc. bought a new position in Sempra Energy in the 1st quarter worth approximately $243,000. Campbell & CO Investment Adviser LLC purchased a new stake in Sempra Energy during the 1st quarter valued at $1,209,000. Quantitative Investment Management LLC purchased a new stake in Sempra Energy during the 1st quarter valued at $3,085,000. Jump Financial LLC raised its holdings in Sempra Energy by 63.7% during the 1st quarter. Jump Financial LLC now owns 9,493 shares of the utilities provider's stock valued at $677,000 after buying an additional 3,693 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Sempra Energy by 72.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,319 shares of the utilities provider's stock worth $3,377,000 after purchasing an additional 19,924 shares during the period. 89.65% of the stock is currently owned by institutional investors.

Sempra Energy Stock Up 1.3%

Shares of SRE traded up $1.05 during midday trading on Monday, reaching $82.49. 3,485,156 shares of the stock were exchanged, compared to its average volume of 3,517,606. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $95.77. The company's 50 day moving average is $79.01 and its two-hundred day moving average is $75.62. The company has a market capitalization of $53.82 billion, a P/E ratio of 19.92, a PEG ratio of 2.62 and a beta of 0.65. 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 issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm's revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current year.

Insider Activity

In related news, EVP Caroline Ann Winn sold 5,114 shares of Sempra Energy stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $82.01, for a total transaction of $419,399.14. Following the completion of the transaction, the executive vice president directly owned 39,380 shares in the company, 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 legal filing 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 value of $126,080.00. Following the transaction, the senior vice president owned 15,600 shares of the company's stock, valued at approximately $1,248,000. This 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.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays increased their target price on Sempra Energy from $71.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 26th. Citigroup reiterated a "neutral" rating and issued a $80.00 target price (up previously from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. BMO Capital Markets increased their target price on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Sempra Energy in a research note on Thursday, August 21st. Seven equities research analysts have rated the stock with a Buy rating and six 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 a consensus target price of $82.33.

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.