Third View Private Wealth LLC Takes $3.38 Million Position in Sempra Energy $SRE

Key Points

• Third View Private Wealth LLC initiated a new stake in Sempra Energy of 38,334 shares in Q4, valued at about $3.38 million, while institutional investors own roughly 89.65% of the stock.
• Sempra beat quarterly EPS estimates ($1.28 vs. $1.12) though revenue was slightly below expectations; the company raised its quarterly dividend to $0.6575 (annualized $2.63, ~2.7% yield) but the dividend payout ratio is high at 95.29%.
• Wall Street rates Sempra a consensus "Moderate Buy" with a $100.73 target, and insider activity is mixed—an EVP sold shares recently while a director purchased 2,500 shares.

Third View Private Wealth LLC purchased a new stake in shares of Sempra Energy (NYSE:SRE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,334 shares of the utilities provider's stock, valued at approximately $3,384,000.

Several other hedge funds have also modified their holdings of the stock. West Wealth Group LLC grew its stake in shares of Sempra Energy by 1.1% during the third quarter. West Wealth Group LLC now owns 10,207 shares of the utilities provider's stock valued at $942,000 after purchasing an additional 112 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in shares of Sempra Energy by 1.7% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,911 shares of the utilities provider's stock valued at $622,000 after purchasing an additional 113 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Sempra Energy by 1.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 8,587 shares of the utilities provider's stock valued at $773,000 after purchasing an additional 115 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Sempra Energy by 2.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 5,191 shares of the utilities provider's stock valued at $458,000 after purchasing an additional 116 shares during the last quarter. Finally, Advisor OS LLC grew its stake in shares of Sempra Energy by 1.2% during the third quarter. Advisor OS LLC now owns 9,681 shares of the utilities provider's stock valued at $871,000 after purchasing an additional 118 shares during the last quarter. 89.65% of the stock is owned by institutional investors.

Sempra Energy Trading Down 2.7%

Shares of NYSE SRE opened at $96.14 on Tuesday. The company's 50 day simple moving average is $94.24 and its 200 day simple moving average is $91.70. Sempra Energy has a fifty-two week low of $68.58 and a fifty-two week high of $101.04. The firm has a market capitalization of $62.81 billion, a P/E ratio of 34.83, a P/E/G ratio of 3.74 and a beta of 0.67. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.59 and a quick ratio of 1.57.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share 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 business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the business posted $1.50 earnings per share. Sempra Energy's revenue was down .2% compared to the same quarter last year. On average, analysts predict that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, March 19th will be issued a $0.6575 dividend. This is an increase from Sempra Energy's previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a yield of 2.7%. The ex-dividend date is Thursday, March 19th. Sempra Energy's dividend payout ratio (DPR) is currently 95.29%.

Wall Street Analysts Forecast Growth

SRE has been the topic of several research analyst reports. Barclays set a $95.00 price target on shares of Sempra Energy and gave the company an "overweight" rating in a research note on Tuesday, February 3rd. Argus raised shares of Sempra Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, March 4th. Wells Fargo & Company increased their price target on shares of Sempra Energy from $113.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Sempra Energy in a research note on Wednesday, January 21st. Finally, UBS Group reissued a "neutral" rating and set a $100.00 price target (up from $96.00) on shares of Sempra Energy in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.73.

Insiders Place Their Bets

In related news, EVP Justin Christopher Bird sold 1,128 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $96.69, for a total value of $109,066.32. Following the transaction, the executive vice president directly owned 21,632 shares in the company, valued at $2,091,598.08. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cynthia J. Warner acquired 2,500 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $92.95 per share, for a total transaction of $232,375.00. Following the completion of the acquisition, the director directly owned 11,275 shares of the company's stock, valued at $1,048,011.25. This trade represents a 28.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 6,192 shares of company stock valued at $576,979 and sold 7,539 shares valued at $706,906. 0.31% of the stock is currently owned by corporate insiders.

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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