Premier Fund Managers Ltd Raises Stake in Sempra Energy $SRE

Key Points

• Premier Fund Managers Ltd increased its stake in Sempra Energy by 68.8%, adding 11,000 shares to hold 27,000 shares valued at approximately $2.406 million at quarter-end.
• Insider activity was mixed: Director Cynthia J. Warner bought 2,500 shares at an average of $92.95, while EVP Justin C. Bird sold 1,128 shares at $96.69, and insiders were net sellers over the quarter (6,192 shares bought vs. 7,539 sold).
• Analysts maintain a "Moderate Buy" consensus with an average target of about $102.67, and the company recently raised its quarterly dividend to $0.6575 (annualized $2.63, ~2.8% yield).

Premier Fund Managers Ltd raised its holdings in shares of Sempra Energy (NYSE:SRE - Free Report) by 68.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the utilities provider's stock after acquiring an additional 11,000 shares during the period. Premier Fund Managers Ltd's holdings in Sempra Energy were worth $2,406,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Sempra Energy during the 3rd quarter valued at $25,000. Ares Financial Consulting LLC bought a new stake in Sempra Energy in the fourth quarter worth $26,000. Activest Wealth Management boosted its position in Sempra Energy by 74.6% during the third quarter. Activest Wealth Management now owns 391 shares of the utilities provider's stock valued at $35,000 after buying an additional 167 shares during the period. Board of the Pension Protection Fund purchased a new stake in Sempra Energy during the fourth quarter valued at about $35,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Sempra Energy by 88.8% during the fourth quarter. Salomon & Ludwin LLC now owns 406 shares of the utilities provider's stock valued at $36,000 after buying an additional 191 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

Insider Transactions at Sempra Energy

In other news, Director Cynthia J. Warner purchased 2,500 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $92.95 per share, for a total transaction of $232,375.00. Following the purchase, the director directly owned 11,275 shares in the company, valued at approximately $1,048,011.25. This trade represents a 28.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Justin Christopher Bird sold 1,128 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $96.69, for a total transaction of $109,066.32. Following the sale, the executive vice president directly owned 21,632 shares in the company, valued at $2,091,598.08. This trade represents a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 6,192 shares of company stock worth $576,979 and have sold 7,539 shares worth $706,906. 0.31% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SRE. Weiss Ratings restated a "hold (c+)" rating on shares of Sempra Energy in a report on Monday, April 20th. Truist Financial set a $108.00 target price on shares of Sempra Energy and gave the stock a "buy" rating in a report on Monday, April 20th. Barclays reiterated an "overweight" rating and set a $105.00 price target (up from $95.00) on shares of Sempra Energy in a report on Wednesday, April 15th. Argus upgraded shares of Sempra Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sempra Energy from $98.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $102.67.

Sempra Energy Price Performance

Shares of SRE stock opened at $93.69 on Thursday. The business's fifty day moving average is $95.15 and its 200 day moving average is $92.01. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 0.75. The stock has a market cap of $61.21 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 3.53 and a beta of 0.60. Sempra Energy has a twelve month low of $73.06 and a twelve month high of $101.04.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The firm had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The company's quarterly revenue was down .2% on a year-over-year basis. Research analysts expect that Sempra Energy will post 5.15 EPS for the current fiscal year.

Sempra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Thursday, March 19th were paid a $0.6575 dividend. This is an increase from Sempra Energy's previous quarterly dividend of $0.65. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, March 19th. Sempra Energy's payout ratio is currently 95.29%.

Sempra Energy Profile

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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