Harbour Investments Inc. Trims Stock Holdings in Sempra Energy $SRE

Harbour Investments Inc. decreased its stake in Sempra Energy (NYSE:SRE) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,192 shares of the utilities provider’s stock after selling 377 shares during the quarter. Harbour Investments Inc.’s holdings in Sempra Energy were worth $393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pingora Partners LLC lifted its holdings in Sempra Energy by 48.3% in the 1st quarter. Pingora Partners LLC now owns 430 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 140 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in Sempra Energy by 230.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 430 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 300 shares during the period. Eastern Bank boosted its stake in Sempra Energy by 73.7% in the 1st quarter. Eastern Bank now owns 580 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 246 shares during the period. Barrett & Company Inc. bought a new position in Sempra Energy in the 2nd quarter worth approximately $51,000. Finally, Spire Wealth Management boosted its stake in Sempra Energy by 44.7% in the 1st quarter. Spire Wealth Management now owns 1,026 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 317 shares during the period. Institutional investors own 89.65% of the company’s stock.

Wall Street Analyst Weigh In

SRE has been the subject of several recent analyst reports. BMO Capital Markets upped their price target on Sempra Energy from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, September 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research note on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and issued a $93.00 price target (up from $86.00) on shares of Sempra Energy in a research note on Wednesday, September 24th. Evercore ISI set a $105.00 price target on Sempra Energy and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Barclays set a $101.00 price target on Sempra Energy and gave the company an “overweight” rating in a report on Monday. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insider Activity

In other news, Director Kevin C. Sagara sold 14,433 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $89.50, for a total value of $1,291,753.50. Following the completion of the sale, the director directly owned 1,042 shares of the company’s stock, valued at $93,259. This trade represents a 93.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total value of $126,080.00. Following the completion of the sale, the senior vice president directly owned 15,600 shares of the company’s stock, valued at $1,248,000. The trade was a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,987 shares of company stock valued at $4,267,870 in the last ninety days. Insiders own 0.27% of the company’s stock.

Sempra Energy Stock Performance

NYSE SRE opened at $92.65 on Tuesday. The stock has a market capitalization of $60.45 billion, a PE ratio of 22.38, a P/E/G ratio of 2.81 and a beta of 0.66. The business has a 50 day simple moving average of $85.48 and a two-hundred day simple moving average of $79.03. 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.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts predict that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, October 1st. Sempra Energy’s dividend payout ratio (DPR) is presently 62.32%.

Sempra Energy Company Profile

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.