Exchange Traded Concepts LLC Lowers Holdings in Sempra Energy (NYSE:SRE)

Exchange Traded Concepts LLC lowered its holdings in shares of Sempra Energy (NYSE:SRE - Free Report) by 83.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,645 shares of the utilities provider's stock after selling 8,528 shares during the period. Exchange Traded Concepts LLC's holdings in Sempra Energy were worth $117,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Lindbrook Capital LLC increased its holdings in Sempra Energy by 5.4% in the 4th quarter. Lindbrook Capital LLC now owns 2,410 shares of the utilities provider's stock worth $211,000 after purchasing an additional 124 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Sempra Energy by 1.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,194 shares of the utilities provider's stock valued at $719,000 after buying an additional 124 shares during the period. Pinnacle West Asset Management Inc. raised its holdings in Sempra Energy by 5.1% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 2,585 shares of the utilities provider's stock valued at $227,000 after buying an additional 125 shares during the last quarter. MJP Associates Inc. ADV boosted its position in Sempra Energy by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 6,195 shares of the utilities provider's stock worth $543,000 after buying an additional 125 shares during the period. Finally, Legacy Financial Advisors Inc. grew its holdings in Sempra Energy by 5.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,639 shares of the utilities provider's stock worth $232,000 after acquiring an additional 126 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

Sempra Energy Stock Up 0.4%

Sempra Energy stock traded up $0.29 during mid-day trading on Tuesday, reaching $76.08. The stock had a trading volume of 1,516,773 shares, compared to its average volume of 3,835,145. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.57. The stock's 50-day simple moving average is $75.35 and its 200-day simple moving average is $77.52. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.77. The firm has a market capitalization of $49.59 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.99 and a beta of 0.64.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.90 billion. Sempra Energy had a return on equity of 8.55% and a net margin of 22.15%. Sempra Energy's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. On average, sell-side analysts forecast that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, June 26th will be given a dividend of $0.645 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $2.58 annualized dividend and a yield of 3.39%. Sempra Energy's payout ratio is currently 56.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reiterated an "overweight" rating and set a $88.00 price target (up previously from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Argus cut Sempra Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. BMO Capital Markets lifted their price objective on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Citigroup decreased their target price on shares of Sempra Energy from $93.00 to $70.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group dropped their price target on shares of Sempra Energy from $77.00 to $75.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.83.

Insiders Place Their Bets

In related news, EVP Justin Christopher Bird sold 4,817 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $71.23, for a total value of $343,114.91. Following the sale, the executive vice president now directly owns 19,778 shares in the company, valued at approximately $1,408,786.94. The trade was a 19.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Diana L. Day sold 8,015 shares of Sempra Energy stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total transaction of $595,193.90. Following the completion of the transaction, the insider now owns 16,969 shares of the company's stock, valued at $1,260,117.94. The trade was a 32.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

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.