Axxcess Wealth Management LLC Reduces Stock Position in Sempra Energy $SRE

Axxcess Wealth Management LLC cut its stake in Sempra Energy (NYSE:SREFree Report) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,687 shares of the utilities provider’s stock after selling 195 shares during the period. Axxcess Wealth Management LLC’s holdings in Sempra Energy were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SRE. Wellington Management Group LLP grew its position in shares of Sempra Energy by 26.8% in the first quarter. Wellington Management Group LLP now owns 48,686,047 shares of the utilities provider’s stock valued at $3,474,236,000 after purchasing an additional 10,278,893 shares in the last quarter. Nuveen LLC purchased a new position in Sempra Energy in the first quarter worth approximately $192,130,000. PointState Capital LP purchased a new position in Sempra Energy in the first quarter worth approximately $154,369,000. Kingstone Capital Partners Texas LLC purchased a new position in Sempra Energy in the second quarter worth approximately $160,357,000. Finally, JPMorgan Chase & Co. grew its position in Sempra Energy by 42.7% in the first quarter. JPMorgan Chase & Co. now owns 4,647,990 shares of the utilities provider’s stock worth $331,681,000 after acquiring an additional 1,391,433 shares during the period. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SRE shares. Evercore ISI set a $105.00 price objective on Sempra Energy and gave the stock an “outperform” rating in a research report on Monday, October 6th. Barclays increased their price objective on Sempra Energy from $71.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, October 8th. BMO Capital Markets increased their price objective on Sempra Energy from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $93.00 price objective (up from $86.00) on shares of Sempra Energy in a research report on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.09.

View Our Latest Analysis on Sempra Energy

Insiders Place Their Bets

In other Sempra Energy news, SVP Alexander Lisa Larroque sold 1,576 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $80.00, for a total transaction of $126,080.00. Following the sale, the senior vice president owned 15,600 shares in the company, valued at $1,248,000. This represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Ann Winn sold 5,114 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $82.01, for a total value of $419,399.14. Following the sale, the executive vice president owned 39,380 shares in the company, valued at approximately $3,229,553.80. This trade represents a 11.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,987 shares of company stock worth $4,267,870 in the last quarter. 0.27% of the stock is owned by company insiders.

Sempra Energy Price Performance

Shares of NYSE SRE opened at $91.16 on Friday. The stock’s 50-day moving average is $85.05 and its two-hundred day moving average is $78.61. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41. Sempra Energy has a 1-year low of $61.90 and a 1-year high of $95.77. The company has a market cap of $59.48 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 2.84 and a beta of 0.66.

Sempra Energy (NYSE:SREGet Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business earned $0.89 EPS. Sempra Energy’s revenue was down .4% on a year-over-year basis. Analysts forecast that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were issued a dividend of $0.645 per share. The ex-dividend date was Wednesday, October 1st. This represents a $2.58 annualized dividend and a yield of 2.8%. Sempra Energy’s dividend payout ratio is 62.32%.

Sempra Energy Company Profile

(Free Report)

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.

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Institutional Ownership by Quarter for Sempra Energy (NYSE:SRE)

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