Jump Financial LLC Boosts Stake in Sempra Energy $SRE

Key Points

• Jump Financial LLC significantly increased its stake in Sempra Energy by 63.7% during the first quarter, acquiring a total of 9,493 shares valued at approximately $677,000.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Merit Financial Group LLC, also raised their holdings in Sempra Energy, indicating strong institutional interest.
• Analysts have recently adjusted their price targets for Sempra Energy, with a consensus target now at $82.33, suggesting a favorable outlook for the stock.

Jump Financial LLC increased its position in Sempra Energy (NYSE:SRE - Free Report) by 63.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,493 shares of the utilities provider's stock after purchasing an additional 3,693 shares during the period. Jump Financial LLC's holdings in Sempra Energy were worth $677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sempra Energy by 8.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 173,408 shares of the utilities provider's stock valued at $12,374,000 after purchasing an additional 13,433 shares during the last quarter. Carrera Capital Advisors lifted its holdings in shares of Sempra Energy by 8.0% in the 1st quarter. Carrera Capital Advisors now owns 49,570 shares of the utilities provider's stock valued at $3,569,000 after purchasing an additional 3,677 shares during the last quarter. Merit Financial Group LLC raised its stake 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 acquiring an additional 7,012 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in Sempra Energy during the 1st quarter valued at approximately $483,000. Finally, Lee Danner & Bass Inc. raised its stake 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 valued at $3,302,000 after acquiring an additional 20,707 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sempra Energy

In related news, SVP Alexander Lisa Larroque sold 1,576 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 15,600 shares of the company's stock, valued at $1,248,000. This trade represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Ann Winn sold 5,114 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the completion of the transaction, the executive vice president directly owned 39,380 shares of the company's stock, valued at $3,229,553.80. The trade was a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on SRE shares. BMO Capital Markets upped their price objective on Sempra Energy from $78.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Citigroup reaffirmed a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. Morgan Stanley reaffirmed an "overweight" rating on shares of Sempra Energy in a research note on Thursday, August 21st. Finally, Barclays upped their price objective on Sempra Energy from $71.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.33.

Sempra Energy Stock Performance

Shares of SRE stock opened at $82.49 on Monday. The company has a market cap of $53.82 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. The stock has a 50 day simple moving average of $79.01 and a 200-day simple moving average of $75.62. Sempra Energy has a 12-month low of $61.90 and a 12-month high of $95.77. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.35 billion. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The company's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. On average, equities analysts forecast that Sempra Energy will post 4.76 EPS for the current year.

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.

Want to see what other hedge funds are holding SRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sempra Energy (NYSE:SRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.