Sempra Energy (NYSE:SRE) Shares Bought by Spirepoint Private Client LLC

Spirepoint Private Client LLC lifted its position in Sempra Energy (NYSE:SRE - Free Report) by 53.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,639 shares of the utilities provider's stock after acquiring an additional 6,107 shares during the quarter. Spirepoint Private Client LLC's holdings in Sempra Energy were worth $1,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SRE. Lindbrook Capital LLC raised its holdings in Sempra Energy by 5.4% in the fourth quarter. Lindbrook Capital LLC now owns 2,410 shares of the utilities provider's stock worth $211,000 after purchasing an additional 124 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Sempra Energy by 1.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,194 shares of the utilities provider's stock worth $719,000 after purchasing an additional 124 shares in the last quarter. Pinnacle West Asset Management Inc. raised its holdings in Sempra Energy by 5.1% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 2,585 shares of the utilities provider's stock worth $227,000 after purchasing an additional 125 shares in the last quarter. MJP Associates Inc. ADV raised its holdings in Sempra Energy by 2.1% in the fourth quarter. MJP Associates Inc. ADV now owns 6,195 shares of the utilities provider's stock worth $543,000 after purchasing an additional 125 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in Sempra Energy by 5.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 2,639 shares of the utilities provider's stock worth $232,000 after purchasing an additional 126 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors.

Insider Activity at Sempra Energy

In related news, EVP Justin Christopher Bird sold 4,817 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $71.23, for a total value of $343,114.91. Following the sale, the executive vice president now owns 19,778 shares in the company, valued at $1,408,786.94. This represents a 19.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Diana L. Day sold 8,015 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $74.26, for a total value of $595,193.90. Following the completion of the sale, the insider now owns 16,969 shares in the company, valued at approximately $1,260,117.94. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

SRE has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Sempra Energy from $88.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Jefferies Financial Group reduced their target price on shares of Sempra Energy from $77.00 to $75.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Argus downgraded shares of Sempra Energy from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Morgan Stanley reiterated an "overweight" rating and issued a $88.00 target price (up from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Finally, Citigroup dropped their price target on Sempra Energy from $93.00 to $70.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Sempra Energy has an average rating of "Moderate Buy" and a consensus price target of $80.83.

Sempra Energy Stock Up 0.5%

Shares of SRE stock traded up $0.38 during trading hours on Friday, reaching $75.32. 5,966,282 shares of the company's stock were exchanged, compared to its average volume of 3,861,483. Sempra Energy has a 1 year low of $61.90 and a 1 year high of $95.77. The stock has a market cap of $49.10 billion, a PE ratio of 16.55, a PEG ratio of 2.02 and a beta of 0.64. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The stock's fifty day moving average price is $75.72 and its two-hundred day moving average price is $77.30.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its earnings results on Thursday, May 8th. The utilities provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.12. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.90 billion. Sempra Energy had a return on equity of 8.55% and a net margin of 22.15%. Sempra Energy's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 earnings per share. Research analysts predict that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, June 26th will be given a $0.645 dividend. The ex-dividend date is Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a yield of 3.43%. Sempra Energy's dividend payout ratio is currently 56.70%.

Sempra Energy 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.