Magellan Asset Management Ltd Sells 19,680 Shares of Sempra Energy $SRE

Magellan Asset Management Ltd trimmed its position in Sempra Energy (NYSE:SRE) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,238,316 shares of the utilities provider’s stock after selling 19,680 shares during the period. Sempra Energy makes up approximately 2.4% of Magellan Asset Management Ltd’s portfolio, making the stock its 13th biggest position. Magellan Asset Management Ltd owned approximately 0.34% of Sempra Energy worth $201,404,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of Sempra Energy during the third quarter valued at approximately $25,000. Westside Investment Management Inc. lifted its holdings in shares of Sempra Energy by 51.2% in the 2nd quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 127 shares in the last quarter. NewSquare Capital LLC increased its stake in Sempra Energy by 245.1% during the 2nd quarter. NewSquare Capital LLC now owns 421 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 299 shares in the last quarter. Hartford Funds Management Co LLC bought a new stake in Sempra Energy during the 2nd quarter valued at $35,000. Finally, Activest Wealth Management raised its holdings in Sempra Energy by 74.6% during the third quarter. Activest Wealth Management now owns 391 shares of the utilities provider’s stock worth $35,000 after buying an additional 167 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRE has been the subject of a number of analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $112.00 price objective (down from $115.00) on shares of Sempra Energy in a report on Tuesday, January 20th. Citigroup reaffirmed a “neutral” rating and issued a $99.00 price target (up from $80.00) on shares of Sempra Energy in a research report on Monday, November 24th. Morgan Stanley reissued an “overweight” rating and set a $101.00 price objective on shares of Sempra Energy in a report on Friday. Barclays set a $95.00 target price on Sempra Energy and gave the company an “overweight” rating in a report on Tuesday, February 3rd. Finally, Wall Street Zen upgraded Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.17.

Sempra Energy Price Performance

Shares of NYSE SRE opened at $94.07 on Wednesday. The company has a market capitalization of $61.40 billion, a PE ratio of 28.86, a PEG ratio of 3.53 and a beta of 0.74. The company has a quick ratio of 1.56, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average price is $89.18 and its 200-day moving average price is $88.54. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.74.

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.