Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Sempra Energy (NYSE:SRE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,302 shares of the utilities provider’s stock, valued at approximately $148,000.
Several other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC acquired a new position in shares of Sempra Energy in the 2nd quarter valued at $435,000. Cubist Systematic Strategies LLC increased its position in shares of Sempra Energy by 222.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,449 shares of the utilities provider’s stock valued at $1,097,000 after acquiring an additional 6,516 shares during the period. Tyers Asset Management LLC increased its position in shares of Sempra Energy by 11.7% in the 2nd quarter. Tyers Asset Management LLC now owns 6,534 shares of the utilities provider’s stock valued at $759,000 after acquiring an additional 682 shares during the period. Arizona State Retirement System increased its position in shares of Sempra Energy by 40.4% in the 2nd quarter. Arizona State Retirement System now owns 143,523 shares of the utilities provider’s stock valued at $16,664,000 after acquiring an additional 41,316 shares during the period. Finally, AMP Capital Investors Ltd increased its position in shares of Sempra Energy by 3.3% in the 2nd quarter. AMP Capital Investors Ltd now owns 1,092,036 shares of the utilities provider’s stock valued at $126,796,000 after acquiring an additional 34,984 shares during the period. 88.25% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SRE opened at $115.03 on Friday. Sempra Energy has a one year low of $100.49 and a one year high of $127.22. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.58. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.64 and a beta of 0.39.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Monday, August 6th. The utilities provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.18 by $0.17. Sempra Energy had a negative net margin of 5.89% and a positive return on equity of 8.69%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Sempra Energy will post 5.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 21st will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 20th. Sempra Energy’s payout ratio is 66.05%.
SRE has been the topic of several research reports. Argus upped their target price on Sempra Energy to $130.00 and gave the company a “buy” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. set a $110.00 target price on Sempra Energy and gave the company a “hold” rating in a research report on Monday, July 30th. Bank of America upped their target price on Sempra Energy from $118.00 to $121.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. Morgan Stanley set a $120.00 target price on Sempra Energy and gave the company an “equal weight” rating in a research report on Friday, August 10th. Finally, Wells Fargo & Co raised Sempra Energy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $125.00 to $128.00 in a research report on Monday, August 20th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sempra Energy has an average rating of “Buy” and a consensus target price of $123.25.
Sempra Energy Profile
Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.
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