Envestnet Asset Management Inc. Increases Holdings in Sempra Energy (NYSE:SRE)

Envestnet Asset Management Inc. grew its stake in Sempra Energy (NYSE:SRE - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494,066 shares of the utilities provider's stock after purchasing an additional 64,829 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of Sempra Energy worth $106,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prudent Man Investment Management Inc. acquired a new stake in shares of Sempra Energy during the 4th quarter worth about $26,000. TCTC Holdings LLC increased its position in shares of Sempra Energy by 265.2% during the fourth quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 244 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Sempra Energy in the 4th quarter valued at approximately $29,000. Mattson Financial Services LLC purchased a new position in shares of Sempra Energy during the 4th quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Sempra Energy in the 1st quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.65% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SRE. Morgan Stanley restated an "overweight" rating and set a $88.00 price target (up from $87.00) on shares of Sempra Energy in a research report on Wednesday, June 18th. Wells Fargo & Company reduced their price target on shares of Sempra Energy from $88.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Citigroup dropped their price objective on shares of Sempra Energy from $93.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Barclays reduced their target price on shares of Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, Jefferies Financial Group dropped their price target on shares of Sempra Energy from $77.00 to $75.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Sempra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.75.

Insider Buying and Selling

In related news, insider Diana L. Day sold 8,015 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $74.26, for a total value of $595,193.90. Following the completion of the sale, the insider owned 16,969 shares in the company, valued at $1,260,117.94. This trade represents a 32.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company's stock.

Sempra Energy Stock Performance

NYSE:SRE traded up $0.40 during mid-day trading on Thursday, reaching $74.89. 2,638,013 shares of the stock were exchanged, compared to its average volume of 3,875,014. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 0.89. Sempra Energy has a 1 year low of $61.90 and a 1 year high of $95.77. The company has a 50 day simple moving average of $75.93 and a 200-day simple moving average of $76.64. The stock has a market capitalization of $48.82 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.00 and a beta of 0.63.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Sempra Energy had a net margin of 22.15% and a return on equity of 8.55%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the firm posted $1.34 EPS. Sempra Energy's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Sempra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Thursday, June 26th will be paid a $0.645 dividend. The ex-dividend date is Thursday, June 26th. This represents a $2.58 annualized dividend and a yield of 3.45%. Sempra Energy's dividend payout ratio is currently 56.70%.

About Sempra Energy

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.