Trinity Legacy Partners LLC Lowers Position in Sempra Energy $SRE

Key Points

• Trinity Legacy Partners LLC significantly reduced its holdings in Sempra Energy by 94.4%, owning only 3,046 shares after selling 51,442 shares during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for Sempra Energy, with price targets ranging from $71.00 to $88.00.
• Sempra Energy reported earnings of $0.89 per share for the last quarter, exceeding expectations, though revenue fell slightly 0.4% year-over-year.

Trinity Legacy Partners LLC lowered its holdings in Sempra Energy (NYSE:SRE - Free Report) by 94.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,046 shares of the utilities provider's stock after selling 51,442 shares during the period. Trinity Legacy Partners LLC's holdings in Sempra Energy were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mattson Financial Services LLC bought a new position in shares of Sempra Energy during the 4th quarter valued at about $30,000. Opal Wealth Advisors LLC bought a new position in shares of Sempra Energy during the 1st quarter valued at about $38,000. Park Square Financial Group LLC bought a new position in shares of Sempra Energy during the 4th quarter valued at about $41,000. Eastern Bank increased its position in shares of Sempra Energy by 73.7% during the 1st quarter. Eastern Bank now owns 580 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 246 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of Sempra Energy during the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 89.65% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SRE. BMO Capital Markets increased their price objective on Sempra Energy from $78.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Citigroup reiterated a "neutral" rating and set a $80.00 price objective (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Barclays reduced their price target on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, Morgan Stanley restated an "overweight" rating and set a $88.00 price target (up from $87.00) on shares of Sempra Energy in a research report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.58.

Sempra Energy Trading Up 2.1%

NYSE SRE opened at $82.8240 on Friday. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.77. 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 50 day simple moving average of $78.23 and a two-hundred day simple moving average of $75.74. The stock has a market cap of $54.04 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.62.

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

Insider Buying and Selling

In other news, EVP Caroline Ann Winn sold 5,114 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was 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 $3,229,553.80. This trade represents a 11.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $126,080.00. Following the completion of the transaction, the senior vice president 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 disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

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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