Vestcor Inc Cuts Stake in Sempra Energy (NYSE:SRE)

Key Points

• Vestcor Inc reduced its stake in Sempra Energy by 14.8% in Q1, holding 25,518 shares worth approximately $1.82 million after selling 4,437 shares.
• Institutional investors collectively own 89.65% of Sempra Energy's stock, with notable increases in stakes from companies like Wealth Enhancement Advisory Services LLC and Stock Yards Bank & Trust Co.
• Sempra Energy recently announced a quarterly dividend of $0.645, representing an annualized amount of $2.58 and a yield of 3.2%.

Vestcor Inc lessened its stake in Sempra Energy (NYSE:SRE - Free Report) by 14.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,518 shares of the utilities provider's stock after selling 4,437 shares during the period. Vestcor Inc's holdings in Sempra Energy were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Sempra Energy by 8.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 173,408 shares of the utilities provider's stock valued at $12,374,000 after purchasing an additional 13,433 shares during the last quarter. Merit Financial Group LLC grew its stake in Sempra Energy by 171.2% in the first quarter. Merit Financial Group LLC now owns 11,107 shares of the utilities provider's stock valued at $793,000 after purchasing an additional 7,012 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in Sempra Energy in the first quarter valued at about $1,099,000. Lee Danner & Bass Inc. grew its stake in Sempra Energy by 81.0% in the first quarter. Lee Danner & Bass Inc. now owns 46,277 shares of the utilities provider's stock valued at $3,302,000 after purchasing an additional 20,707 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in Sempra Energy by 1,283.7% in the first quarter. Stock Yards Bank & Trust Co. now owns 265,485 shares of the utilities provider's stock valued at $18,945,000 after purchasing an additional 246,299 shares during the last quarter. Hedge funds and other institutional investors own 89.65% of the company's stock.

Insider Buying and Selling

In other Sempra Energy news, insider Diana L. Day sold 8,015 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total value of $595,193.90. Following the completion of the transaction, the insider directly owned 16,969 shares of the company's stock, valued at approximately $1,260,117.94. The trade was a 32.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business'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 directly owned 15,600 shares of the company's stock, valued at $1,248,000. The trade was a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group cut their target price on Sempra Energy from $77.00 to $75.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Barclays lowered their price target on Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $88.00 price target (up previously from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. BMO Capital Markets raised their price target on Sempra Energy from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Citigroup lowered their price target on Sempra Energy from $93.00 to $70.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sempra Energy currently has a consensus rating of "Moderate Buy" and an average price target of $80.75.

Sempra Energy Price Performance

Shares of NYSE SRE opened at $81.64 on Friday. The business's 50 day moving average price is $76.60 and its 200 day moving average price is $75.85. The firm has a market cap of $53.22 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.18 and a beta of 0.63. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $95.77. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 0.89.

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. On average, sell-side analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, June 26th were issued a $0.645 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a yield of 3.2%. Sempra Energy's payout ratio is presently 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.

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