Van ECK Associates Corp Makes New Investment in Sempra Energy $SRE

Key Points

• Van ECK Associates initiated a Sempra Energy position by purchasing 278,599 shares valued at approximately $25.8 million. Institutional investors collectively own 89.65% of Sempra’s outstanding stock.
• Sempra reported quarterly earnings of $1.16 per share, exceeding analyst expectations of $1.01, although revenue of $3 billion fell short of estimates and declined slightly year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $103.62, compared with the stock’s reported opening price of $84.25.

Van ECK Associates Corp purchased a new stake in Sempra Energy (NYSE:SRE - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 278,599 shares of the utilities provider's stock, valued at approximately $25,829,000.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Sempra Energy during the 2nd quarter worth $5,588,577,000. Norges Bank acquired a new position in Sempra Energy in the fourth quarter valued at $914,924,000. Bank of America Corp DE acquired a new position in Sempra Energy in the second quarter valued at $957,056,000. Deutsche Bank AG purchased a new stake in Sempra Energy during the second quarter valued at about $896,599,000. Finally, Legal & General Group Plc purchased a new stake in Sempra Energy during the second quarter valued at about $538,775,000. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sempra Energy news, EVP Caroline Ann Winn sold 8,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the completion of the transaction, the executive vice president owned 25,164 shares in the company, valued at $2,278,600.20. This represents a 24.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Sempra Energy Trading Down 0.1%

Shares of SRE opened at $84.25 on Monday. The stock's 50-day moving average is $89.67 and its two-hundred day moving average is $92.14. The stock has a market cap of $55.09 billion, a PE ratio of 24.42, a P/E/G ratio of 2.03 and a beta of 0.57. Sempra Energy has a 12 month low of $78.97 and a 12 month high of $101.04. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.62.

Sempra Energy (NYSE:SRE - Get Free Report) last issued its earnings results on Thursday, August 6th. The utilities provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Sempra Energy had a return on equity of 8.49% and a net margin of 16.70%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company's revenue was down .1% compared to the same quarter last year. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. Equities analysts forecast that Sempra Energy will post 5.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

SRE has been the topic of a number of research reports. Barclays cut their price objective on Sempra Energy from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Wall Street Zen raised shares of Sempra Energy from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Truist Financial set a $100.00 target price on shares of Sempra Energy and gave the stock a "buy" rating in a research report on Thursday, August 13th. Morgan Stanley cut their price target on shares of Sempra Energy from $108.00 to $104.00 and set an "overweight" rating on the stock in a report on Friday, August 21st. Finally, BMO Capital Markets set a $102.00 price target on shares of Sempra Energy and gave the company an "outperform" rating in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.62.

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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