Danske Bank A S Grows Stock Position in Sempra Energy $SRE

Key Points

• Danske Bank raised its stake in Sempra Energy by 8.7% in Q4 to 547,467 shares (0.08% of the company), worth about $48.34 million, while overall institutional ownership stands at 89.65%.
• Sempra beat quarterly EPS estimates ($1.28 vs. $1.12) though revenue slightly missed, and the company raised its quarterly dividend to $0.6575 ($2.63 annualized) for a 2.8% yield with a 95.29% payout ratio.
• Analyst sentiment has turned more positive with upgrades and higher targets from Barclays, Truist and Argus; the consensus rating is a “Moderate Buy” with an average target of about $102.67.

Danske Bank A S boosted its holdings in Sempra Energy (NYSE:SRE - Free Report) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 547,467 shares of the utilities provider's stock after acquiring an additional 43,906 shares during the period. Danske Bank A S owned 0.08% of Sempra Energy worth $48,336,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in Sempra Energy in the third quarter valued at $25,000. Ares Financial Consulting LLC acquired a new position in shares of Sempra Energy in the 4th quarter valued at $26,000. Activest Wealth Management grew its holdings in shares of Sempra Energy by 74.6% during the 3rd quarter. Activest Wealth Management now owns 391 shares of the utilities provider's stock worth $35,000 after purchasing an additional 167 shares during the period. Board of the Pension Protection Fund acquired a new stake in shares of Sempra Energy during the 4th quarter worth about $35,000. Finally, Salomon & Ludwin LLC increased its position in shares of Sempra Energy by 88.8% during the 4th quarter. Salomon & Ludwin LLC now owns 406 shares of the utilities provider's stock worth $36,000 after purchasing an additional 191 shares during the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Sempra Energy Trading Down 0.3%

NYSE SRE opened at $94.79 on Friday. The firm has a 50 day simple moving average of $95.13 and a 200-day simple moving average of $91.96. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.59. Sempra Energy has a one year low of $73.06 and a one year high of $101.04. The firm has a market cap of $61.93 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.60 and a beta of 0.60.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The firm had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. The business's quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Sempra Energy will post 5.1 EPS for the current fiscal year.

Sempra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Thursday, March 19th were paid a $0.6575 dividend. This represents a $2.63 annualized dividend and a dividend yield of 2.8%. This is a positive change from Sempra Energy's previous quarterly dividend of $0.65. The ex-dividend date was Thursday, March 19th. Sempra Energy's payout ratio is presently 95.29%.

Insider Buying and Selling at Sempra Energy

In related news, Director Jennifer M. Kirk bought 1,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average cost of $93.44 per share, with a total value of $93,440.00. Following the purchase, the director directly owned 1,000 shares of the company's stock, valued at $93,440. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Justin Christopher Bird sold 1,128 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $96.69, for a total value of $109,066.32. Following the sale, the executive vice president owned 21,632 shares in the company, valued at approximately $2,091,598.08. This trade represents a 4.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 6,192 shares of company stock valued at $576,979 and have sold 7,539 shares valued at $706,906. Insiders own 0.31% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on SRE shares. Barclays reaffirmed an "overweight" rating and issued a $105.00 target price (up from $95.00) on shares of Sempra Energy in a research report on Wednesday, April 15th. Truist Financial set a $108.00 price target on shares of Sempra Energy and gave the company a "buy" rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Sempra Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Argus upgraded shares of Sempra Energy from a "hold" rating to a "buy" rating in a report on Wednesday, March 4th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Sempra Energy in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.67.

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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