Skandinaviska Enskilda Banken AB publ Reduces Stock Position in Sempra Energy (NYSE:SRE)

Posted by Defense World Staff on May 15th, 2023

Skandinaviska Enskilda Banken AB publ lowered its stake in Sempra Energy (NYSE:SRE – Get Rating) by 51.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,013 shares of the utilities provider’s stock after selling 2,165 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sempra Energy were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EWG Elevate Inc. bought a new position in Sempra Energy in the fourth quarter worth approximately $40,000. Power Corp of Canada bought a new position in Sempra Energy in the third quarter worth approximately $418,000. Tokio Marine Asset Management Co. Ltd. raised its position in Sempra Energy by 9.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,348 shares of the utilities provider’s stock worth $826,000 after acquiring an additional 479 shares during the period. Daiwa Securities Group Inc. raised its position in Sempra Energy by 6.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 39,756 shares of the utilities provider’s stock worth $6,144,000 after acquiring an additional 2,321 shares during the period. Finally, Aviva PLC raised its position in Sempra Energy by 8.7% in the third quarter. Aviva PLC now owns 153,635 shares of the utilities provider’s stock worth $23,039,000 after acquiring an additional 12,260 shares during the period. 84.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Sempra Energy news, CEO Jeffrey W. Martin sold 10,413 shares of Sempra Energy stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $150.99, for a total value of $1,572,258.87. Following the completion of the transaction, the chief executive officer now directly owns 19,261 shares of the company’s stock, valued at approximately $2,908,218.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Jeffrey W. Martin sold 19,260 shares of Sempra Energy stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $146.09, for a total transaction of $2,813,693.40. Following the completion of the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $146.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey W. Martin sold 10,413 shares of Sempra Energy stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $150.99, for a total transaction of $1,572,258.87. Following the transaction, the chief executive officer now directly owns 19,261 shares of the company’s stock, valued at $2,908,218.39. The disclosure for this sale can be found here. Insiders sold 31,979 shares of company stock valued at $4,728,393 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SRE. Wells Fargo & Company decreased their price objective on shares of Sempra Energy from $180.00 to $174.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 1st. BMO Capital Markets decreased their price objective on shares of Sempra Energy from $169.00 to $166.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Morgan Stanley raised their price objective on shares of Sempra Energy from $150.00 to $164.00 and gave the company an “equal weight” rating in a research report on Thursday, April 20th. StockNews.com began coverage on shares of Sempra Energy in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Bank of America decreased their price objective on shares of Sempra Energy from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, March 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.25.

Sempra Energy Stock Performance

SRE opened at $153.29 on Monday. The stock has a market capitalization of $48.23 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 3.80 and a beta of 0.73. The company has a fifty day moving average of $151.42 and a 200 day moving average of $155.39. Sempra Energy has a fifty-two week low of $136.54 and a fifty-two week high of $176.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.54.

Sempra Energy (NYSE:SRE – Get Rating) last posted its earnings results on Thursday, May 4th. The utilities provider reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.16. Sempra Energy had a net margin of 14.47% and a return on equity of 10.28%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the company posted $2.91 earnings per share. Sempra Energy’s quarterly revenue was up 71.7% on a year-over-year basis. As a group, sell-side analysts forecast that Sempra Energy will post 8.97 earnings per share for the current fiscal year.

Sempra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Wednesday, July 5th will be paid a $1.19 dividend. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.11%. Sempra Energy’s payout ratio is currently 61.34%.

Sempra Energy Profile

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Sempra Energy is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: San Diego Gas and Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Texas Utilities, Sempra Mexico, and Sempra LNG.