Sempra Energy (NYSE:SRE) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG significantly reduced its stake in Sempra Energy by 78.1%, selling nearly 7 million shares and now holding about 0.30% of the company.
• Sempra Energy reported earnings per share (EPS) of $0.89 in its most recent quarter, exceeding estimates, although revenue declined by 0.4% year-over-year.
• The company announced a quarterly dividend of $0.645 per share, reflecting an annual yield of 3.2%.

Deutsche Bank AG decreased its stake in shares of Sempra Energy (NYSE:SRE - Free Report) by 78.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,947,645 shares of the utilities provider's stock after selling 6,964,454 shares during the period. Deutsche Bank AG owned 0.30% of Sempra Energy worth $138,984,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in Sempra Energy by 8.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 173,408 shares of the utilities provider's stock worth $12,374,000 after purchasing an additional 13,433 shares in the last quarter. Merit Financial Group LLC lifted its holdings in Sempra Energy by 171.2% during the 1st quarter. Merit Financial Group LLC now owns 11,107 shares of the utilities provider's stock valued at $793,000 after purchasing an additional 7,012 shares during the last quarter. Lee Danner & Bass Inc. increased its position in Sempra Energy by 81.0% during the 1st quarter. Lee Danner & Bass Inc. now owns 46,277 shares of the utilities provider's stock worth $3,302,000 after buying an additional 20,707 shares during the period. Bridgewater Advisors Inc. bought a new position in Sempra Energy during the 1st quarter worth $483,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Sempra Energy in the first quarter valued at about $1,099,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Diana L. Day sold 8,015 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total value of $595,193.90. Following the sale, the insider directly owned 16,969 shares in the company, valued at approximately $1,260,117.94. The trade was a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business'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 completion of the sale, the senior vice president owned 15,600 shares in the company, valued at $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 owned by insiders.

Sempra Energy Stock Up 1.5%

SRE stock traded up $1.18 on Tuesday, reaching $82.08. 2,601,026 shares of the company traded hands, compared to its average volume of 3,605,377. Sempra Energy has a one year low of $61.90 and a one year high of $95.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41. The company has a market cap of $53.55 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 2.27 and a beta of 0.62. The firm has a fifty day simple moving average of $77.14 and a 200-day simple moving average of $75.67.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate 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 return on equity of 8.42% and a net margin of 20.28%. Sempra Energy's revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Research analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, June 26th were given a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, June 26th. Sempra Energy's payout ratio is presently 62.32%.

Analyst Ratings Changes

Several brokerages have issued reports on SRE. Citigroup reissued a "neutral" rating and issued a $80.00 price target (up from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. Morgan Stanley reissued an "overweight" rating and set a $88.00 price objective (up previously from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Jefferies Financial Group decreased their target price on Sempra Energy from $77.00 to $75.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets upped 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, Barclays decreased their target price on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.58.

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.