Cresset Asset Management LLC Has $8.60 Million Position in Sempra Energy $SRE

Key Points

• Cresset Asset Management LLC significantly increased its holdings in Sempra Energy by 1,909.0%, owning 119,453 shares worth approximately $8.60 million after acquiring an additional 113,507 shares in the first quarter.
• Sempra Energy reported a quarterly earnings per share (EPS) of $0.89, exceeding analyst expectations, although its revenue was slightly below projections at $3 billion.
• The stock of Sempra Energy holds a consensus rating of "Moderate Buy" with a current price target averaging $81.58 following various analyst upgrades and downgrades.

Cresset Asset Management LLC increased its position in Sempra Energy (NYSE:SRE - Free Report) by 1,909.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,453 shares of the utilities provider's stock after buying an additional 113,507 shares during the quarter. Cresset Asset Management LLC's holdings in Sempra Energy were worth $8,601,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SRE. Mattson Financial Services LLC purchased a new stake in shares of Sempra Energy during the fourth quarter valued at $30,000. Park Square Financial Group LLC purchased a new stake in shares of Sempra Energy during the fourth quarter valued at $41,000. Opal Wealth Advisors LLC purchased a new stake in shares of Sempra Energy during the first quarter valued at $38,000. Eastern Bank lifted its holdings in shares of Sempra Energy by 73.7% during the first quarter. Eastern Bank now owns 580 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 246 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Sempra Energy during the fourth quarter valued at $56,000. Institutional investors and hedge funds own 89.65% of the company's stock.

Insiders Place Their Bets

In other Sempra Energy news, SVP Alexander Lisa Larroque sold 1,576 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $80.00, for a total value of $126,080.00. Following the transaction, the senior vice president directly owned 15,600 shares of the company's stock, valued at $1,248,000. This represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Ann Winn sold 5,114 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $82.01, for a total value of $419,399.14. Following the completion of the transaction, the executive vice president owned 39,380 shares in the company, valued at $3,229,553.80. This represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

SRE has been the subject of several analyst reports. BMO Capital Markets upped their target price on Sempra Energy from $78.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Citigroup reaffirmed a "neutral" rating and set a $80.00 target price (up from $70.00) on shares of Sempra Energy in a report on Monday, August 4th. Barclays reduced their target price on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $88.00 target price (up from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $81.58.

Sempra Energy Stock Down 1.5%

NYSE:SRE traded down $1.2030 during trading hours on Thursday, hitting $81.1970. 3,398,640 shares of the company's stock traded hands, compared to its average volume of 4,531,833. The stock's fifty day moving average price is $77.95 and its two-hundred day moving average price is $75.74. The firm has a market cap of $52.98 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.32 and a beta of 0.62. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.77. 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 earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.35 billion. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts expect that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

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.