Jennison Associates LLC Has $205.23 Million Stock Holdings in Sempra Energy $SRE

Key Points

• Jennison Associates LLC trimmed its Sempra Energy stake by 2.1% in the first quarter, selling 44,287 shares and ending with 2,112,069 shares valued at about $205.23 million.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $104.08, though one recent note cut the stock to a sell rating.
• Sempra reported Q1 EPS of $1.51, in line with expectations, while revenue came in below estimates at $3.65 billion; the company also paid a quarterly dividend of $0.6575 per share, yielding about 2.8%.

Jennison Associates LLC decreased its position in shares of Sempra Energy (NYSE:SRE - Free Report) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,112,069 shares of the utilities provider's stock after selling 44,287 shares during the period. Jennison Associates LLC owned 0.32% of Sempra Energy worth $205,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SRE. Bell Investment Advisors Inc raised its stake in shares of Sempra Energy by 79.5% during the 1st quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Ares Financial Consulting LLC bought a new stake in shares of Sempra Energy in the 4th quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Sempra Energy by 57.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider's stock worth $31,000 after buying an additional 127 shares during the last quarter. Key Financial Inc increased its holdings in Sempra Energy by 73.6% in the fourth quarter. Key Financial Inc now owns 361 shares of the utilities provider's stock worth $32,000 after buying an additional 153 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in Sempra Energy by 83.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SRE. Truist Financial set a $104.00 target price on shares of Sempra Energy and gave the stock a "buy" rating in a research report on Monday, May 18th. BMO Capital Markets cut their price target on shares of Sempra Energy from $105.00 to $103.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. Wall Street Zen lowered shares of Sempra Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. TD Cowen started coverage on shares of Sempra Energy in a research note on Wednesday, July 8th. They issued a "buy" rating for the company. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $105.00 price objective on shares of Sempra Energy in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Sempra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.08.

Sempra Energy Stock Down 0.9%

SRE opened at $92.31 on Friday. The firm has a market cap of $60.34 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.22 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 1.69. The business has a 50 day moving average price of $91.94 and a 200 day moving average price of $92.30. Sempra Energy has a twelve month low of $76.43 and a twelve month high of $101.04.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $1.51 EPS for the quarter, meeting the consensus estimate of $1.51. Sempra Energy had a return on equity of 8.20% and a net margin of 14.31%.The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the company posted $1.44 earnings per share. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. Research analysts forecast that Sempra Energy will post 5.12 EPS for the current year.

Sempra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 25th were paid a $0.6575 dividend. The ex-dividend date was Thursday, June 25th. This represents a $2.63 dividend on an annualized basis and a yield of 2.8%. Sempra Energy's dividend payout ratio (DPR) is presently 89.15%.

Insider Activity at Sempra Energy

In related news, EVP Caroline Ann Winn sold 8,000 shares of Sempra Energy stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $90.55, for a total value of $724,400.00. Following the transaction, the executive vice president owned 25,164 shares in the company, valued at $2,278,600.20. This trade represents a 24.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pablo Ferrero sold 2,600 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $89.53, for a total transaction of $232,778.00. Following the sale, the director owned 15,423 shares of the company's stock, valued at $1,380,821.19. This trade represents a 14.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,900 shares of company stock worth $1,261,207. 0.31% of the stock is owned by insiders.

About Sempra Energy

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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