Envestnet Portfolio Solutions Inc. Sells 3,103 Shares of Sempra Energy (NYSE:SRE)

Envestnet Portfolio Solutions Inc. trimmed its position in Sempra Energy (NYSE:SRE) by 10.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,671 shares of the utilities provider’s stock after selling 3,103 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Sempra Energy were worth $1,832,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in shares of Sempra Energy in the 4th quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in shares of Sempra Energy in the 4th quarter valued at $29,000. Synergy Investment Management LLC bought a new position in shares of Sempra Energy in the 4th quarter valued at $29,000. TCTC Holdings LLC lifted its stake in shares of Sempra Energy by 265.2% in the 4th quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 244 shares during the last quarter. Finally, Mattson Financial Services LLC bought a new position in shares of Sempra Energy in the 4th quarter valued at $30,000. 89.65% of the stock is currently owned by institutional investors.

Sempra Energy Stock Up 2.4%

Shares of NYSE:SRE opened at $75.84 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.51 and a current ratio of 0.57. Sempra Energy has a 52-week low of $61.90 and a 52-week high of $95.77. The business’s 50 day simple moving average is $75.35 and its two-hundred day simple moving average is $77.52. The firm has a market cap of $49.44 billion, a P/E ratio of 16.67, a PEG ratio of 1.99 and a beta of 0.64.

Sempra Energy (NYSE:SRE) last issued its earnings results on Thursday, May 8th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Sempra Energy had a return on equity of 8.55% and a net margin of 22.15%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the business earned $1.34 EPS. Sempra Energy’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, June 26th will be issued a $0.645 dividend. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.40%. Sempra Energy’s dividend payout ratio is presently 56.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SRE shares. Guggenheim lowered their target price on Sempra Energy from $95.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays lowered Sempra Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $95.00 to $72.00 in a research report on Thursday, February 27th. Wells Fargo & Company lowered their target price on Sempra Energy from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. BMO Capital Markets raised their target price on Sempra Energy from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Finally, The Goldman Sachs Group lowered Sempra Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $99.00 to $76.00 in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.83.

Insider Buying and Selling at Sempra Energy

In related news, insider Diana L. Day sold 8,015 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total value of $595,193.90. Following the completion of the sale, the insider now directly owns 16,969 shares of the company’s stock, valued at approximately $1,260,117.94. This represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Justin Christopher Bird sold 4,817 shares of Sempra Energy stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $71.23, for a total transaction of $343,114.91. Following the transaction, the executive vice president now directly owns 19,778 shares in the company, valued at $1,408,786.94. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

About Sempra Energy

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.