Cinctive Capital Management LP Has $26.35 Million Position in Sempra Energy $SRE

Cinctive Capital Management LP lifted its stake in shares of Sempra Energy (NYSE:SRE) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,889 shares of the utilities provider’s stock after purchasing an additional 9,967 shares during the quarter. Sempra Energy accounts for 1.3% of Cinctive Capital Management LP’s holdings, making the stock its 8th biggest holding. Cinctive Capital Management LP’s holdings in Sempra Energy were worth $26,354,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC lifted its position in Sempra Energy by 52.5% during the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider’s stock worth $1,285,000 after purchasing an additional 6,196 shares during the period. Woodline Partners LP grew its stake in Sempra Energy by 40.7% during the first quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider’s stock worth $3,819,000 after buying an additional 15,474 shares in the last quarter. Savant Capital LLC increased its holdings in Sempra Energy by 4.1% in the 2nd quarter. Savant Capital LLC now owns 8,743 shares of the utilities provider’s stock valued at $662,000 after buying an additional 344 shares during the period. Allworth Financial LP increased its holdings in Sempra Energy by 2.6% in the 2nd quarter. Allworth Financial LP now owns 11,694 shares of the utilities provider’s stock valued at $886,000 after buying an additional 292 shares during the period. Finally, KBC Group NV raised its position in shares of Sempra Energy by 8.4% in the 2nd quarter. KBC Group NV now owns 60,141 shares of the utilities provider’s stock valued at $4,557,000 after buying an additional 4,659 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Insider Transactions at Sempra Energy

In other news, Director Richard J. Mark purchased 2,692 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average cost of $93.30 per share, with a total value of $251,163.60. Following the completion of the purchase, the director owned 17,376 shares of the company’s stock, valued at $1,621,180.80. This trade represents a 18.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Karen L. Sedgwick sold 4,872 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $92.58, for a total value of $451,049.76. Following the sale, the chief financial officer owned 39,029 shares in the company, valued at approximately $3,613,304.82. This trade represents a 11.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 6,192 shares of company stock valued at $576,979 over the last three months. Company insiders own 0.27% of the company’s stock.

Sempra Energy Stock Performance

NYSE SRE opened at $95.20 on Friday. The firm’s fifty day moving average price is $90.74 and its two-hundred day moving average price is $89.63. The stock has a market cap of $62.19 billion, a PE ratio of 34.49, a PEG ratio of 3.56 and a beta of 0.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.59. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $97.44.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the company earned $1.50 EPS. Sempra Energy’s revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Thursday, March 19th will be given a $0.6575 dividend. This is a boost from Sempra Energy’s previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a yield of 2.8%. The ex-dividend date is Thursday, March 19th. Sempra Energy’s dividend payout ratio is 93.48%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays set a $95.00 price target on shares of Sempra Energy and gave the stock an “overweight” rating in a report on Tuesday, February 3rd. Wall Street Zen cut shares of Sempra Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. Wells Fargo & Company upped their target price on Sempra Energy from $112.00 to $113.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Morgan Stanley reissued an “overweight” rating and set a $101.00 price target on shares of Sempra Energy in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Sempra Energy Company 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.