KLP Kapitalforvaltning AS Sells 14,300 Shares of Sempra Energy $SRE

KLP Kapitalforvaltning AS decreased its position in shares of Sempra Energy (NYSE:SRE) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 498,724 shares of the utilities provider’s stock after selling 14,300 shares during the quarter. KLP Kapitalforvaltning AS owned 0.08% of Sempra Energy worth $44,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Sempra Energy during the 2nd quarter valued at $701,649,000. Marshall Wace LLP raised its stake in shares of Sempra Energy by 786.1% in the second quarter. Marshall Wace LLP now owns 2,957,399 shares of the utilities provider’s stock worth $224,082,000 after purchasing an additional 2,623,637 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Sempra Energy by 809.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,750,891 shares of the utilities provider’s stock valued at $208,435,000 after purchasing an additional 2,448,415 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Sempra Energy during the second quarter valued at $160,357,000. Finally, Vanguard Group Inc. boosted its position in shares of Sempra Energy by 3.3% during the second quarter. Vanguard Group Inc. now owns 66,328,942 shares of the utilities provider’s stock valued at $5,025,777,000 after buying an additional 2,090,840 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.

Sempra Energy Price Performance

NYSE SRE opened at $87.71 on Wednesday. The business’s fifty day moving average is $90.55 and its 200 day moving average is $85.63. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.56 and a current ratio of 1.59. The company has a market capitalization of $57.25 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.34 and a beta of 0.74.

Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.84 by $0.27. Sempra Energy had a return on equity of 8.67% and a net margin of 15.63%.The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts predict that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Thursday, December 11th will be given a $0.645 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, December 11th. Sempra Energy’s dividend payout ratio is presently 79.14%.

Insider Activity

In other news, EVP Caroline Ann Winn sold 500 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $91.70, for a total transaction of $45,850.00. Following the sale, the executive vice president directly owned 33,664 shares in the company, valued at $3,086,988.80. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alexander Lisa Larroque sold 4,322 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $92.55, for a total value of $400,001.10. Following the completion of the sale, the senior vice president owned 11,325 shares of the company’s stock, valued at $1,048,128.75. The trade was a 27.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,396 shares of company stock valued at $1,785,606. 0.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SRE has been the topic of a number of research analyst reports. Citigroup restated a “neutral” rating and set a $99.00 price objective (up previously from $80.00) on shares of Sempra Energy in a research report on Monday, November 24th. Barclays lowered their price target on Sempra Energy from $101.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Jefferies Financial Group set a $89.00 price target on Sempra Energy and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company initiated coverage on Sempra Energy in a research report on Monday, October 27th. They set an “overweight” rating and a $115.00 price objective for the company. Finally, BTIG Research raised Sempra Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.17.

Sempra Energy Profile

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.