TD Asset Management Inc Raises Stock Position in Sempra Energy $SRE

Key Points

• TD Asset Management Inc increased its stock position in Sempra Energy by 23.2%, owning 494,006 shares valued at approximately $37.4 million.
• Sempra Energy recently reported $0.89 earnings per share for the quarter, surpassing analyst expectations by $0.07.
• The company announced a quarterly dividend of $0.645 per share, representing an annualized dividend of $2.58 and a yield of 2.8%.

TD Asset Management Inc boosted its position in shares of Sempra Energy (NYSE:SRE - Free Report) by 23.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494,006 shares of the utilities provider's stock after purchasing an additional 92,990 shares during the period. TD Asset Management Inc owned approximately 0.08% of Sempra Energy worth $37,431,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pingora Partners LLC raised its stake in Sempra Energy by 48.3% during the first quarter. Pingora Partners LLC now owns 430 shares of the utilities provider's stock worth $31,000 after purchasing an additional 140 shares during the period. ST Germain D J Co. Inc. raised its stake in Sempra Energy by 230.8% during the second quarter. ST Germain D J Co. Inc. now owns 430 shares of the utilities provider's stock worth $33,000 after purchasing an additional 300 shares during the period. Eastern Bank raised its stake in Sempra Energy by 73.7% during the first quarter. Eastern Bank now owns 580 shares of the utilities provider's stock worth $41,000 after purchasing an additional 246 shares during the period. Barrett & Company Inc. purchased a new position in Sempra Energy during the second quarter worth about $51,000. Finally, Spire Wealth Management raised its stake in Sempra Energy by 44.7% during the first quarter. Spire Wealth Management now owns 1,026 shares of the utilities provider's stock worth $73,000 after purchasing an additional 317 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Energy Trading Down 1.2%

Shares of SRE stock opened at $91.16 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.41 and a current ratio of 0.48. The stock has a market capitalization of $59.48 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.84 and a beta of 0.66. The company has a 50 day moving average price of $85.05 and a 200 day moving average price of $78.61. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.77.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Equities research analysts predict that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a $0.645 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.8%. Sempra Energy's payout ratio is 62.32%.

Insider Activity at Sempra Energy

In related news, 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 value of $419,399.14. Following the completion of the transaction, the executive vice president owned 39,380 shares in the company, valued at approximately $3,229,553.80. The trade was a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at $1,248,000. This trade represents a 9.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,987 shares of company stock worth $4,267,870. Corporate insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI set a $105.00 target price on shares of Sempra Energy and gave the stock an "outperform" rating in a research note on Monday, October 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Sempra Energy in a research report on Wednesday, October 8th. Mizuho lifted their price target on shares of Sempra Energy from $86.00 to $93.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Citigroup reiterated a "neutral" rating and set a $80.00 price target (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Finally, BMO Capital Markets lifted their price target on shares of Sempra Energy from $88.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, September 25th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $86.09.

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.

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