Canada Pension Plan Investment Board Sells 367,844 Shares of Sempra Energy $SRE

Key Points

• The Canada Pension Plan Investment Board reduced its shareholding in Sempra Energy by 50.2% in the first quarter, now holding 0.06% of the company valued at approximately $26 million.
• Several hedge funds have modified their positions in Sempra Energy, with notable increases in holdings from some, indicating strong institutional interest in the stock's performance.
• Analysts maintain a "Moderate Buy" average rating for Sempra Energy, with an average price target of $82.33, following upward revisions from firms like Citigroup and Barclays.

Canada Pension Plan Investment Board reduced its stake in shares of Sempra Energy (NYSE:SRE - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 365,056 shares of the utilities provider's stock after selling 367,844 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.06% of Sempra Energy worth $26,050,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Sempra Energy by 26.8% in the first quarter. Wellington Management Group LLP now owns 48,686,047 shares of the utilities provider's stock valued at $3,474,236,000 after acquiring an additional 10,278,893 shares during the last quarter. Nuveen LLC bought a new stake in Sempra Energy in the 1st quarter valued at $192,130,000. Janus Henderson Group PLC boosted its position in shares of Sempra Energy by 71.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,651,923 shares of the utilities provider's stock valued at $408,069,000 after acquiring an additional 1,936,865 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sempra Energy by 42.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,647,990 shares of the utilities provider's stock worth $331,681,000 after purchasing an additional 1,391,433 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Sempra Energy by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 64,238,102 shares of the utilities provider's stock worth $4,584,032,000 after purchasing an additional 1,220,047 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Energy Trading Down 0.8%

Shares of NYSE:SRE traded down $0.66 during mid-day trading on Wednesday, reaching $82.24. The stock had a trading volume of 3,238,215 shares, compared to its average volume of 3,299,674. The firm has a market cap of $53.66 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. The firm has a 50 day simple moving average of $79.43 and a two-hundred day simple moving average of $75.70. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.77.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.35 billion. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. On average, research analysts predict that Sempra Energy will post 4.76 EPS for the current fiscal year.

Insider Activity at Sempra Energy

In other Sempra Energy news, SVP Alexander Lisa Larroque sold 1,576 shares of the firm's 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 sale, the senior vice president directly owned 15,600 shares in the company, valued at approximately $1,248,000. This trade represents a 9.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Caroline Ann Winn sold 5,114 shares of Sempra Energy stock in a transaction that occurred 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 in the company, valued at $3,229,553.80. This trade represents a 11.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SRE shares. Citigroup reiterated a "neutral" rating and set a $80.00 price target (up previously from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Morgan Stanley reiterated an "overweight" rating on shares of Sempra Energy in a research report on Thursday, August 21st. Barclays upped their price target on shares of Sempra Energy from $71.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 26th. Finally, BMO Capital Markets upped their price target on shares of Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $82.33.

About Sempra Energy

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.