Schroder Investment Management Group Sells 28,664 Shares of Sempra Energy $SRE

Key Points

• Schroder Investment Management Group trimmed its Sempra Energy stake by 9.9%, selling 28,664 shares in the quarter and now holds 261,259 shares worth about $23.44 million.
• Sempra beat quarterly EPS estimates ($1.28 vs. $1.12) though revenue slightly missed, and analysts' consensus is a "Moderate Buy" with a $100 target price.
• Two directors purchased shares recently while the company raised its quarterly dividend to $0.6575 (annualized $2.63, ~2.8% yield) and its dividend payout ratio is about 93%.

Schroder Investment Management Group lessened its holdings in Sempra Energy (NYSE:SRE - Free Report) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 261,259 shares of the utilities provider's stock after selling 28,664 shares during the period. Schroder Investment Management Group's holdings in Sempra Energy were worth $23,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Sempra Energy by 52.5% during the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider's stock worth $1,285,000 after purchasing an additional 6,196 shares during the period. Woodline Partners LP raised its position in shares of Sempra Energy by 40.7% in the first quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider's stock valued at $3,819,000 after purchasing an additional 15,474 shares during the period. Ignite Planners LLC lifted its stake in shares of Sempra Energy by 3.1% during the 2nd quarter. Ignite Planners LLC now owns 12,396 shares of the utilities provider's stock worth $970,000 after buying an additional 371 shares during the last quarter. Savant Capital LLC lifted its stake in shares of Sempra Energy by 4.1% during the 2nd quarter. Savant Capital LLC now owns 8,743 shares of the utilities provider's stock worth $662,000 after buying an additional 344 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Sempra Energy by 2.6% during the 2nd quarter. Allworth Financial LP now owns 11,694 shares of the utilities provider's stock worth $886,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 89.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on SRE shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Sempra Energy in a research note on Wednesday, January 21st. Barclays set a $95.00 price objective on shares of Sempra Energy and gave the stock an "overweight" rating in a research report on Tuesday, February 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $101.00 target price on shares of Sempra Energy in a research report on Friday, February 20th. Wells Fargo & Company increased their target price on Sempra Energy from $112.00 to $113.00 and gave the stock an "overweight" rating in a research note on Friday, February 27th. Finally, Citigroup reissued a "neutral" rating and set a $99.00 price target (up from $80.00) on shares of Sempra Energy in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.00.

Sempra Energy Price Performance

NYSE:SRE opened at $93.15 on Friday. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $97.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.59. The firm's 50-day simple moving average is $90.63 and its 200 day simple moving average is $89.48. The firm has a market cap of $60.85 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 3.47 and a beta of 0.73.

Sempra Energy (NYSE:SRE - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share (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 during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The business's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts predict that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, March 19th will be given a dividend of $0.6575 per share. 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 yield of 2.8%. The ex-dividend date of this dividend is Thursday, March 19th. Sempra Energy's dividend payout ratio (DPR) is currently 93.48%.

Insider Buying and Selling

In related news, Director Richard J. Mark bought 2,692 shares of the business's stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $93.30 per share, for a total transaction of $251,163.60. Following the transaction, the director owned 17,376 shares in the company, valued at $1,621,180.80. The trade was a 18.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cynthia J. Warner bought 2,500 shares of Sempra Energy stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $92.95 per share, for a total transaction of $232,375.00. Following the completion of the acquisition, the director owned 11,275 shares in the company, valued at $1,048,011.25. This represents a 28.49% increase in their position. The SEC filing for this purchase provides additional information. 0.27% of the stock is currently owned by company insiders.

About Sempra Energy

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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