Raymond James Financial Inc. Sells 50,678 Shares of Sempra Energy $SRE

Key Points

• Raymond James Financial Inc. reduced its holdings in Sempra Energy by 3.6%, selling 50,678 shares and retaining 1,358,507 shares valued at approximately $96.9 million as of the latest SEC filing.
• Analysts' ratings for Sempra Energy are mixed, with Barclays lowering its price target to $71 and BMO Capital Markets raising it to $81, reflecting a consensus rating of "Moderate Buy".
• Sempra Energy's recent quarterly results showed an EPS of $0.89, exceeding estimates, but revenue fell short of projections at $3 billion, compared to the expected $3.35 billion.

Raymond James Financial Inc. decreased its stake in shares of Sempra Energy (NYSE:SRE - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,358,507 shares of the utilities provider's stock after selling 50,678 shares during the period. Raymond James Financial Inc. owned about 0.21% of Sempra Energy worth $96,943,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its stake in Sempra Energy by 8.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 173,408 shares of the utilities provider's stock worth $12,374,000 after acquiring an additional 13,433 shares during the period. Merit Financial Group LLC raised its stake in 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 acquiring an additional 7,012 shares during the period. Carrera Capital Advisors raised its stake in Sempra Energy by 8.0% during the first quarter. Carrera Capital Advisors now owns 49,570 shares of the utilities provider's stock worth $3,569,000 after acquiring an additional 3,677 shares during the period. Bridgewater Advisors Inc. acquired a new stake in Sempra Energy during the first quarter worth about $483,000. Finally, Lee Danner & Bass Inc. raised its stake in 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 acquiring an additional 20,707 shares during the period. Institutional investors own 89.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on SRE. BMO Capital Markets raised their price target on shares of Sempra Energy from $78.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Citigroup reiterated a "neutral" rating and issued a $80.00 price objective (up from $70.00) on shares of Sempra Energy in a report on Monday, August 4th. Barclays decreased their price objective on shares of Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $88.00 price objective (up from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Seven 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.com, Sempra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.58.

Insiders Place Their Bets

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

Sempra Energy Price Performance

NYSE:SRE traded up $1.6940 during trading hours on Friday, reaching $82.8240. 2,489,237 shares of the company's stock were exchanged, compared to its average volume of 3,565,545. The company has a market capitalization of $54.04 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.62. Sempra Energy has a 12 month low of $61.90 and a 12 month high of $95.77. The company has a quick ratio of 0.41, a current ratio of 0.48 and a debt-to-equity ratio of 0.93. The business's 50-day simple moving average is $78.23 and its two-hundred day simple moving average is $75.74.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. The firm 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 business's revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. Sell-side analysts expect that Sempra Energy will post 4.76 EPS for the current fiscal year.

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.