Sempra Energy $SRE Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group increased its stake in Sempra Energy by 1.3% in Q4 to 76,734,070 shares, now owning 11.76% of the company (about $6.77 billion), and institutional investors hold roughly 89.65% of the stock.
• Sempra beat quarterly EPS expectations ($1.28 vs. $1.12) but missed revenue estimates slightly, and the company raised its quarterly dividend to $0.6575 (a $2.63 annualized payout, ~2.8% yield) with a high payout ratio of 95.29%.
• Wall Street sentiment is broadly positive with a consensus rating of "Moderate Buy" and a $102.67 average price target, while recent analyst targets range roughly $100–$108.

Vanguard Group Inc. grew its position in Sempra Energy (NYSE:SRE - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,734,070 shares of the utilities provider's stock after buying an additional 1,008,476 shares during the period. Vanguard Group Inc. owned 11.76% of Sempra Energy worth $6,774,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Sempra Energy by 19.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,334 shares of the utilities provider's stock valued at $7,678,000 after purchasing an additional 13,864 shares during the period. Peak Financial Advisors LLC grew its holdings in shares of Sempra Energy by 190.1% during the 4th quarter. Peak Financial Advisors LLC now owns 26,552 shares of the utilities provider's stock worth $2,344,000 after purchasing an additional 17,400 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its position in shares of Sempra Energy by 5.7% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 203,402 shares of the utilities provider's stock worth $18,302,000 after purchasing an additional 11,020 shares during the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Sempra Energy by 5.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,143,205 shares of the utilities provider's stock worth $192,846,000 after purchasing an additional 106,380 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Sempra Energy in the 3rd quarter valued at about $150,993,000. Institutional investors and hedge funds own 89.65% of the company's stock.

Sempra Energy Price Performance

Sempra Energy stock opened at $93.23 on Monday. The firm has a market cap of $60.91 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 3.52 and a beta of 0.67. Sempra Energy has a 52-week low of $72.99 and a 52-week high of $101.04. 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 company's 50 day moving average is $95.11 and its two-hundred day moving average is $91.91.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The company had revenue of $3.75 billion during the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter last year, the company posted $1.50 EPS. The firm's revenue was down .2% compared to the same quarter last year. On average, research analysts expect that Sempra Energy will post 5.11 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. Investors of record on Thursday, March 19th were paid a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, March 19th. This is a positive change from Sempra Energy's previous quarterly dividend of $0.65. Sempra Energy's payout ratio is presently 95.29%.

Insider Activity at Sempra Energy

In related news, Director Jennifer M. Kirk purchased 1,000 shares of Sempra Energy stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $93.44 per share, with a total value of $93,440.00. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at approximately $93,440. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia J. Warner acquired 2,500 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $92.95 per share, with a total value 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 disclosure for this purchase is available in the SEC filing. 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. Company insiders own 0.31% of the company's stock.

Wall Street Analyst Weigh In

SRE has been the subject of several research analyst reports. 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 research note on Wednesday, March 18th. UBS Group reissued a "neutral" rating and issued a $100.00 price target (up from $96.00) on shares of Sempra Energy in a research note on Friday, March 6th. Truist Financial set a $108.00 price objective on shares of Sempra Energy and gave the stock a "buy" rating in a report on Monday, April 20th. Barclays reaffirmed an "overweight" rating and set a $105.00 price objective (up from $95.00) on shares of Sempra Energy in a research report on Wednesday, April 15th. Finally, Wall Street Zen downgraded shares of Sempra Energy from a "hold" rating to a "sell" rating in a report on Sunday, March 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.67.

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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