Huntington National Bank Has $4.36 Million Stock Position in Sempra Energy $SRE

Huntington National Bank decreased its holdings in shares of Sempra Energy (NYSE:SRE) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,480 shares of the utilities provider’s stock after selling 5,500 shares during the quarter. Huntington National Bank’s holdings in Sempra Energy were worth $4,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SRE. Wellington Management Group LLP grew its stake in Sempra Energy by 26.8% in the 1st quarter. Wellington Management Group LLP now owns 48,686,047 shares of the utilities provider’s stock valued at $3,474,236,000 after buying an additional 10,278,893 shares during the last quarter. Nuveen LLC acquired a new position in Sempra Energy in the 1st quarter valued at $192,130,000. PointState Capital LP acquired a new position in Sempra Energy in the 1st quarter valued at $154,369,000. Kingstone Capital Partners Texas LLC acquired a new position in Sempra Energy in the 2nd quarter valued at $160,357,000. Finally, JPMorgan Chase & Co. grew its stake in Sempra Energy by 42.7% in the 1st quarter. JPMorgan Chase & Co. now owns 4,647,990 shares of the utilities provider’s stock valued at $331,681,000 after buying an additional 1,391,433 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kevin C. Sagara sold 28,864 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $84.21, for a total value of $2,430,637.44. Following the completion of the transaction, the director owned 15,475 shares of the company’s stock, valued at $1,303,149.75. This represents a 65.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Caroline Ann Winn sold 5,114 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the completion of the sale, the executive vice president directly owned 39,380 shares in the company, valued at approximately $3,229,553.80. This represents a 11.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,411 shares of company stock valued at $4,141,790 in the last three months. Company insiders own 0.27% of the company’s stock.

Sempra Energy Stock Performance

NYSE SRE opened at $92.52 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41. The firm has a market capitalization of $60.36 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.84 and a beta of 0.66. The company’s fifty day moving average is $87.79 and its two-hundred day moving average is $81.00. Sempra Energy has a 52-week low of $61.90 and a 52-week high of $95.77.

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

Sempra Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on SRE. Jefferies Financial Group set a $89.00 price target on Sempra Energy and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Citigroup reaffirmed a “neutral” rating and issued a $80.00 price target (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. BMO Capital Markets lifted their price target on Sempra Energy from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company began coverage on shares of Sempra Energy in a research report on Monday, October 27th. They issued an “overweight” rating and a $115.00 price target on the stock. Finally, BTIG Research upgraded shares of Sempra Energy to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Sempra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

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.