Citigroup Inc. Lowers Holdings in Sempra Energy (NYSE:SRE)

Key Points

• Citigroup Inc. has reduced its stake in Sempra Energy by 21.5%, owning approximately 2.5 million shares valued at $178 million after selling 685,343 shares in the first quarter.
• Other institutional investors, such as Cerity Partners LLC and Bank of Hawaii, have increased their positions in Sempra Energy, indicating strong institutional interest, with 89.65% of the stock being held by institutional investors.
• Sempra Energy reported $0.89 earnings per share (EPS) in its last quarter, exceeding the consensus estimate of $0.82, but its revenue was down 0.4% compared to the same quarter last year.

Citigroup Inc. decreased its position in Sempra Energy (NYSE:SRE - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,499,204 shares of the utilities provider's stock after selling 685,343 shares during the quarter. Citigroup Inc. owned 0.38% of Sempra Energy worth $178,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in shares of Sempra Energy during the 4th quarter worth $30,000. Park Square Financial Group LLC acquired a new stake in Sempra Energy during the 4th quarter worth about $41,000. Opal Wealth Advisors LLC bought a new position in shares of Sempra Energy in the 1st quarter worth about $38,000. Eastern Bank lifted its stake in shares of Sempra Energy by 73.7% in the 1st quarter. Eastern Bank now owns 580 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 246 shares during the period. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Sempra Energy during the 4th quarter valued at about $56,000. 89.65% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Alexander Lisa Larroque sold 1,576 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Sempra Energy Stock Performance

Shares of NYSE SRE traded down $0.19 during trading on Wednesday, reaching $81.91. 784,996 shares of the company traded hands, compared to its average volume of 4,574,001. The stock has a market capitalization of $53.44 billion, a PE ratio of 19.79, a P/E/G ratio of 2.27 and a beta of 0.62. The firm has a 50 day simple moving average of $77.23 and a 200-day simple moving average of $75.71. Sempra Energy has a 52-week low of $61.90 and a 52-week 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.

Sempra Energy (NYSE:SRE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. Sempra Energy's revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, June 26th were paid a dividend of $0.645 per share. The ex-dividend date was Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.1%. Sempra Energy's dividend payout ratio (DPR) is currently 62.32%.

Analyst Ratings Changes

SRE has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating and set a $88.00 target price (up from $87.00) on shares of Sempra Energy in a research note on Wednesday, June 18th. Barclays reduced 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. Jefferies Financial Group cut their price target on Sempra Energy from $77.00 to $75.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Citigroup restated a "neutral" rating and issued a $80.00 target price (up previously from $70.00) on shares of Sempra Energy in a report on Monday, August 4th. Finally, BMO Capital Markets upped their price target on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.58.

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.