First Horizon Advisors Inc. Reduces Stock Holdings in Sempra Energy $SRE

First Horizon Advisors Inc. lowered its stake in Sempra Energy (NYSE:SRE) by 30.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,256 shares of the utilities provider’s stock after selling 1,414 shares during the period. First Horizon Advisors Inc.’s holdings in Sempra Energy were worth $247,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. increased its position in shares of Sempra Energy by 51.2% during the second quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider’s stock valued at $29,000 after buying an additional 127 shares during the period. Mendel Money Management boosted its position in Sempra Energy by 1.6% during the 2nd quarter. Mendel Money Management now owns 8,476 shares of the utilities provider’s stock valued at $642,000 after acquiring an additional 130 shares in the last quarter. Tritonpoint Wealth LLC boosted its position in Sempra Energy by 2.2% during the 2nd quarter. Tritonpoint Wealth LLC now owns 5,999 shares of the utilities provider’s stock valued at $458,000 after acquiring an additional 132 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Sempra Energy by 1.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,169 shares of the utilities provider’s stock worth $583,000 after acquiring an additional 133 shares during the period. Finally, Concurrent Investment Advisors LLC raised its position in shares of Sempra Energy by 0.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 25,370 shares of the utilities provider’s stock worth $1,922,000 after acquiring an additional 139 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Energy Price Performance

SRE opened at $93.63 on Friday. The firm has a market cap of $61.09 billion, a PE ratio of 22.62, a P/E/G ratio of 2.84 and a beta of 0.68. The stock has a 50-day moving average price of $88.43 and a 200-day moving average price of $81.32. Sempra Energy has a 1 year low of $61.90 and a 1 year 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.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.27. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. Sell-side analysts predict that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Sempra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Thursday, December 11th will be given a $0.645 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, December 11th. Sempra Energy’s payout ratio is 62.32%.

Wall Street Analyst Weigh In

SRE has been the subject of a number of research analyst reports. Barclays lowered their target price on Sempra Energy from $101.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup restated a “neutral” rating and set a $80.00 target price (up previously from $70.00) on shares of Sempra Energy in a report on Monday, August 4th. Jefferies Financial Group set a $89.00 target price on shares of Sempra Energy and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. BTIG Research upgraded shares of Sempra Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.42.

Insider Buying and Selling at Sempra Energy

In other Sempra Energy news, EVP Caroline Ann Winn sold 5,114 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $82.01, for a total value of $419,399.14. Following the transaction, the executive vice president directly owned 39,380 shares of the company’s stock, valued at approximately $3,229,553.80. This trade represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kevin C. Sagara sold 14,433 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $89.50, for a total transaction of $1,291,753.50. Following the completion of the transaction, the director owned 1,042 shares in the company, valued at $93,259. This trade represents a 93.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 52,733 shares of company stock worth $4,541,791. 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.