Corundum Group Inc. bought a new position in Sempra Energy (NYSE:SRE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,801 shares of the utilities provider’s stock, valued at approximately $203,000.
Several other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue increased its position in Sempra Energy by 41.1% in the first quarter. State of Alaska Department of Revenue now owns 8,491 shares of the utilities provider’s stock valued at $938,000 after buying an additional 2,475 shares during the last quarter. Huntington National Bank increased its position in Sempra Energy by 1.0% in the first quarter. Huntington National Bank now owns 199,195 shares of the utilities provider’s stock valued at $22,012,000 after buying an additional 2,055 shares during the last quarter. Ledyard National Bank increased its position in Sempra Energy by 95.8% in the first quarter. Ledyard National Bank now owns 4,915 shares of the utilities provider’s stock valued at $543,000 after buying an additional 2,405 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Sempra Energy by 26.1% in the first quarter. DnB Asset Management AS now owns 33,387 shares of the utilities provider’s stock worth $3,689,000 after buying an additional 6,900 shares during the period. Finally, Reliance Trust Co. of Delaware boosted its stake in shares of Sempra Energy by 13.8% in the first quarter. Reliance Trust Co. of Delaware now owns 9,246 shares of the utilities provider’s stock worth $1,022,000 after buying an additional 1,123 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.
Shares of Sempra Energy (NYSE:SRE) traded up 0.66% on Friday, reaching $116.55. The company had a trading volume of 847,955 shares. The stock has a market capitalization of $29.26 billion, a PE ratio of 17.24 and a beta of 0.54. The company has a 50 day moving average price of $113.93 and a 200 day moving average price of $111.72. Sempra Energy has a 52-week low of $92.95 and a 52-week high of $117.97.
Sempra Energy (NYSE:SRE) last announced its earnings results on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.80 by $0.30. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. Sempra Energy’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, equities research analysts anticipate that Sempra Energy will post $5.23 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Corundum Group Inc. Takes Position in Sempra Energy (SRE)” was reported by Rincon Hill News and is owned by of Rincon Hill News. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://rinconhillneighbors.org/2017/08/20/corundum-group-inc-acquires-shares-of-1801-sempra-energy-sre-updated.html.
A number of equities research analysts have commented on SRE shares. Morgan Stanley increased their target price on Sempra Energy from $129.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, May 8th. BidaskClub upgraded Sempra Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. BMO Capital Markets restated a “hold” rating and set a $115.00 price objective on shares of Sempra Energy in a report on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a report on Monday, July 24th. Finally, Barclays PLC cut Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price objective on the stock. in a report on Thursday, June 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $121.00.
In related news, CEO Debra L. Reed sold 23,000 shares of Sempra Energy stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the completion of the sale, the chief executive officer now owns 112,345 shares of the company’s stock, valued at approximately $12,743,293.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
Receive News & Ratings for Sempra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra Energy and related companies with our FREE daily email newsletter.