Raiffeisen Bank International AG Trims Stake in Sempra Energy (NYSE:SRE)

Key Points

• Raiffeisen Bank International AG reduced its stake in Sempra Energy by 20.9%, holding 12,378 shares valued at approximately $863,000 after selling 3,276 shares in the first quarter.
• Several other institutional investors increased their positions in Sempra Energy, with Stock Yards Bank & Trust Co. boosting its stake by 1,283.7% during the same period.
• Sempra Energy reported earnings of $1.44 per share, exceeding analyst expectations, but its revenue of $3.80 billion fell short of the anticipated $3.90 billion, with a net margin of 22.15%.

Raiffeisen Bank International AG reduced its position in Sempra Energy (NYSE:SRE - Free Report) by 20.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,378 shares of the utilities provider's stock after selling 3,276 shares during the period. Raiffeisen Bank International AG's holdings in Sempra Energy were worth $863,000 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. Merit Financial Group LLC boosted its stake in shares of Sempra Energy by 171.2% during the first quarter. Merit Financial Group LLC now owns 11,107 shares of the utilities provider's stock worth $793,000 after buying an additional 7,012 shares during the period. Lee Danner & Bass Inc. boosted its stake in shares of Sempra Energy by 81.0% during the first quarter. Lee Danner & Bass Inc. now owns 46,277 shares of the utilities provider's stock worth $3,302,000 after buying an additional 20,707 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of Sempra Energy during the first quarter worth about $1,099,000. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of Sempra Energy by 1,283.7% during the first quarter. Stock Yards Bank & Trust Co. now owns 265,485 shares of the utilities provider's stock worth $18,945,000 after buying an additional 246,299 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SRE shares. BMO Capital Markets increased their target price on shares of Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Jefferies Financial Group decreased their target price on shares of Sempra Energy from $77.00 to $75.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley reiterated an "overweight" rating and set a $88.00 target price (up previously from $87.00) on shares of Sempra Energy in a research note on Wednesday, June 18th. Citigroup boosted their price target on shares of Sempra Energy from $70.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday. Finally, Barclays dropped their price target on shares of Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.58.

Insider Transactions at Sempra Energy

In other news, insider Diana L. Day sold 8,015 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $74.26, for a total value of $595,193.90. Following the sale, the insider directly owned 16,969 shares in the company, valued at $1,260,117.94. This represents a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the completion of the sale, the senior vice president owned 15,600 shares in the company, valued at $1,248,000. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Sempra Energy Stock Up 2.6%

Shares of NYSE SRE opened at $83.08 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 0.89. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $95.77. The firm has a 50-day moving average price of $76.78 and a 200 day moving average price of $75.75. The stock has a market capitalization of $54.16 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.18 and a beta of 0.62.

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

Sempra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, June 26th were paid a $0.645 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 26th. Sempra Energy's dividend payout ratio is presently 56.70%.

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.

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