Skandinaviska Enskilda Banken AB publ Buys Shares of 24,750 Sempra Energy $SRE

Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Sempra Energy (NYSE:SRE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,750 shares of the utilities provider’s stock, valued at approximately $2,227,000.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Sempra Energy during the 3rd quarter worth $25,000. Westside Investment Management Inc. lifted its stake in Sempra Energy by 51.2% in the second quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider’s stock valued at $29,000 after buying an additional 127 shares during the last quarter. NewSquare Capital LLC boosted its holdings in shares of Sempra Energy by 245.1% during the second quarter. NewSquare Capital LLC now owns 421 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 299 shares during the period. Hartford Funds Management Co LLC bought a new position in shares of Sempra Energy during the second quarter worth about $35,000. Finally, Activest Wealth Management increased its holdings in shares of Sempra Energy by 74.6% in the 3rd quarter. Activest Wealth Management now owns 391 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 167 shares during the period. Institutional investors own 89.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SRE. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price (down from $115.00) on shares of Sempra Energy in a research note on Tuesday, January 20th. Morgan Stanley restated an “overweight” rating and issued a $101.00 price target on shares of Sempra Energy in a research note on Friday. Citigroup reiterated a “neutral” rating and set a $99.00 price objective (up from $80.00) on shares of Sempra Energy in a research report on Monday, November 24th. Wall Street Zen raised Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, UBS Group reaffirmed an “outperform” rating and set a $100.00 target price on shares of Sempra Energy in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Sempra Energy has an average rating of “Moderate Buy” and a consensus price target of $96.17.

Sempra Energy Price Performance

Shares of NYSE:SRE opened at $93.48 on Friday. The stock has a market cap of $61.01 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.56. Sempra Energy has a 12 month low of $61.90 and a 12 month high of $95.74. The stock’s 50 day moving average price is $88.96 and its 200 day moving average price is $88.32.

Insider Buying and Selling at Sempra Energy

In related news, CFO Karen L. Sedgwick sold 7,564 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $92.29, for a total transaction of $698,081.56. Following the completion of the transaction, the chief financial officer owned 41,280 shares of the company’s stock, valued at $3,809,731.20. This trade represents a 15.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

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.