Cbre Investment Management Listed Real Assets LLC Sells 392,632 Shares of Sempra Energy $SRE

Key Points

• Cbre Investment Management Listed Real Assets LLC sold 392,632 shares of Sempra Energy, reducing its holdings by 64.4% in the first quarter, leaving it with 216,845 shares valued at $15,474,000.
• Other institutional investors also made significant moves; for instance, Northwestern Mutual Wealth Management Co. increased its stake by 72.7% during the same period.
• Sempra Energy's latest quarterly earnings showed a 0.4% decline in revenue year-over-year, reporting $3 billion against analysts' expectations of $3.35 billion.

Cbre Investment Management Listed Real Assets LLC reduced its stake in Sempra Energy (NYSE:SRE - Free Report) by 64.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,845 shares of the utilities provider's stock after selling 392,632 shares during the period. Cbre Investment Management Listed Real Assets LLC's holdings in Sempra Energy were worth $15,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its position in Sempra Energy by 72.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 47,319 shares of the utilities provider's stock worth $3,377,000 after buying an additional 19,924 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Sempra Energy by 33.0% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 740,728 shares of the utilities provider's stock worth $52,858,000 after buying an additional 183,686 shares during the period. AlphaQuest LLC acquired a new stake in Sempra Energy during the 1st quarter worth approximately $333,000. Van Hulzen Asset Management LLC boosted its position in Sempra Energy by 68.5% during the 1st quarter. Van Hulzen Asset Management LLC now owns 9,875 shares of the utilities provider's stock worth $705,000 after buying an additional 4,016 shares during the period. Finally, Tortoise Capital Advisors L.L.C. boosted its position in Sempra Energy by 36.0% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,440,125 shares of the utilities provider's stock worth $102,767,000 after buying an additional 380,970 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sempra Energy

In related news, SVP Alexander Lisa Larroque sold 1,576 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total value of $126,080.00. Following the transaction, the senior vice president directly owned 15,600 shares of the company's stock, valued at approximately $1,248,000. The trade was a 9.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Caroline Ann Winn sold 5,114 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $82.01, for a total transaction of $419,399.14. Following the completion of the transaction, the executive vice president directly 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. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Sempra Energy Stock Up 0.7%

SRE stock traded up $0.55 during midday trading on Wednesday, reaching $82.33. 3,700,334 shares of the company's stock traded hands, compared to its average volume of 4,494,436. 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 company has a market cap of $53.72 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.29 and a beta of 0.62. The firm's fifty day moving average price is $78.54 and its 200-day moving average price is $75.69. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $95.77.

Sempra Energy (NYSE:SRE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 EPS. As a group, sell-side analysts forecast that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

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.