Jennison Associates LLC Cuts Stock Holdings in Sempra Energy (NYSE:SRE)

Jennison Associates LLC cut its position in shares of Sempra Energy (NYSE:SRE - Free Report) by 15.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,682,096 shares of the utilities provider's stock after selling 315,446 shares during the period. Jennison Associates LLC owned approximately 0.26% of Sempra Energy worth $120,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SRE. Prudent Man Investment Management Inc. purchased a new stake in Sempra Energy during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in Sempra Energy during the fourth quarter valued at approximately $29,000. Mattson Financial Services LLC purchased a new stake in Sempra Energy during the fourth quarter valued at approximately $30,000. Park Square Financial Group LLC purchased a new stake in Sempra Energy during the fourth quarter valued at approximately $41,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Sempra Energy during the first quarter valued at approximately $38,000. 89.65% of the stock is owned by institutional investors.

Sempra Energy Stock Up 2.6%

Shares of Sempra Energy stock traded up $1.96 during trading on Friday, reaching $78.25. The company's stock had a trading volume of 3,637,322 shares, compared to its average volume of 3,883,310. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 0.89. The company has a market cap of $51.01 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 0.63. 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 two-hundred day simple moving average of $76.05.

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

Sempra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, June 26th were given a dividend of $0.645 per share. The ex-dividend date was Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a yield of 3.30%. Sempra Energy's dividend payout ratio is currently 56.70%.

Insider Buying and Selling

In other Sempra Energy news, 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 owned 16,969 shares in the company, valued at approximately $1,260,117.94. This trade represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

SRE has been the topic of several recent analyst reports. Citigroup reduced their price target on Sempra Energy from $93.00 to $70.00 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. Barclays set a $71.00 price target on Sempra Energy and gave the stock an "equal weight" rating in a report on Thursday, July 10th. BMO Capital Markets increased their price target on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Jefferies Financial Group reduced their price target on Sempra Energy from $77.00 to $75.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $88.00 price target (up from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.75.

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.