LGT Group Foundation Trims Stake in Sempra Energy (NYSE:SRE)

Key Points

• LGT Group Foundation has decreased its stake in Sempra Energy by 24.6%, now owning 19,750 shares valued at approximately $1.41 million.
• Recent earnings reports reveal Sempra Energy reported $0.89 EPS, beating expectations, but with a 0.4% decrease in year-over-year revenue.
• A consensus rating of "Moderate Buy" exists among analysts, with a median price target of $81.58 for Sempra Energy shares.

LGT Group Foundation trimmed its position in Sempra Energy (NYSE:SRE - Free Report) by 24.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,750 shares of the utilities provider's stock after selling 6,449 shares during the period. LGT Group Foundation's holdings in Sempra Energy were worth $1,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in Sempra Energy in the 4th quarter valued at about $30,000. Park Square Financial Group LLC bought a new stake in shares of Sempra Energy during the fourth quarter worth about $41,000. Opal Wealth Advisors LLC purchased a new position in Sempra Energy during the first quarter worth about $38,000. Eastern Bank boosted its holdings in Sempra Energy by 73.7% during the first quarter. Eastern Bank now owns 580 shares of the utilities provider's stock worth $41,000 after purchasing an additional 246 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new position in Sempra Energy during the fourth quarter worth about $56,000. 89.65% of the stock is owned by institutional investors.

Sempra Energy Stock Performance

NYSE SRE traded down $0.23 on Thursday, hitting $81.99. 2,775,444 shares of the company traded hands, compared to its average volume of 3,572,359. The company has a market capitalization of $53.50 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 2.31 and a beta of 0.62. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93. The business's 50 day moving average price is $77.47 and its 200-day moving average price is $75.76. Sempra Energy has a 52-week low of $61.90 and a 52-week high of $95.77.

Sempra Energy (NYSE:SRE - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The company had revenue of $3 billion for 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%. Sempra Energy's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 earnings per share. Equities analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Insider Transactions at Sempra Energy

In other news, EVP Caroline Ann Winn sold 5,114 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $82.01, for a total transaction of $419,399.14. Following the completion of the transaction, the executive vice president owned 39,380 shares in the company, valued at $3,229,553.80. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total value of $126,080.00. Following the transaction, the senior vice president owned 15,600 shares of the company's stock, valued at approximately $1,248,000. The trade was a 9.18% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Morgan Stanley reaffirmed an "overweight" rating and issued a $88.00 target price (up from $87.00) on shares of Sempra Energy in a research note on Wednesday, June 18th. Citigroup reissued a "neutral" rating and set a $80.00 price objective (up previously from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. Finally, Barclays decreased their target price on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sempra Energy currently has an average rating of "Moderate Buy" and an average price target of $81.58.

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.