Parallel Advisors LLC Purchases 2,299 Shares of Sempra Energy $SRE

Parallel Advisors LLC boosted its holdings in shares of Sempra Energy (NYSE:SRE) by 26.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,907 shares of the utilities provider’s stock after buying an additional 2,299 shares during the quarter. Parallel Advisors LLC’s holdings in Sempra Energy were worth $826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mattson Financial Services LLC purchased a new stake in shares of Sempra Energy in the fourth quarter worth $30,000. Pingora Partners LLC raised its position in shares of Sempra Energy by 48.3% during the 1st quarter. Pingora Partners LLC now owns 430 shares of the utilities provider’s stock valued at $31,000 after buying an additional 140 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in Sempra Energy during the first quarter valued at approximately $38,000. Park Square Financial Group LLC purchased a new stake in Sempra Energy during the 4th quarter valued at $41,000. Finally, Eastern Bank lifted its holdings in shares of 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 acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Sempra Energy in a research note on Thursday, August 21st. Barclays increased their price objective on shares of Sempra Energy from $71.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Finally, Citigroup reiterated a “neutral” rating and issued a $80.00 target price (up previously from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.27.

Sempra Energy Price Performance

Shares of NYSE SRE opened at $82.51 on Friday. Sempra Energy has a 12 month low of $61.90 and a 12 month high of $95.77. 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’s 50 day simple moving average is $80.97 and its 200-day simple moving average is $75.92. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.62 and a beta of 0.65.

Sempra Energy (NYSE:SRE) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business 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 revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Analysts expect that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.645 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.1%. Sempra Energy’s dividend payout ratio is 62.32%.

Insider Activity at Sempra Energy

In related news, SVP Alexander Lisa Larroque sold 1,576 shares of the stock in a transaction on Wednesday, July 23rd. The stock was 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 in the company, valued at approximately $1,248,000. This represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin C. Sagara sold 28,864 shares of Sempra Energy stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $84.21, for a total value of $2,430,637.44. Following the sale, the director owned 15,475 shares in the company, valued at $1,303,149.75. This represents a 65.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,554 shares of company stock valued at $2,976,117 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.