Short Interest in Sempra Energy (NYSE:SRE) Increases By 19.8%

Sempra Energy (NYSE:SRE) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 10,624,752 shares, a growth of 19.8% from the March 15th total of 8,870,993 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 3,784,831 shares, the days-to-cover ratio is currently 2.8 days.

Insiders Place Their Bets

In other Sempra Energy news, Director Cynthia J. Warner acquired 2,500 shares of the stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $92.95 per share, with a total value of $232,375.00. Following the transaction, the director directly owned 11,275 shares of the company’s stock, valued at $1,048,011.25. This trade represents a 28.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Justin Christopher Bird sold 1,128 shares of Sempra Energy stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $96.69, for a total transaction of $109,066.32. Following the completion of the sale, the executive vice president owned 21,632 shares of the company’s stock, valued at $2,091,598.08. This trade represents a 4.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 6,192 shares of company stock worth $576,979 and sold 7,539 shares worth $706,906. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sempra Energy

A number of institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Sempra Energy in the third quarter valued at approximately $25,000. Bell Investment Advisors Inc boosted its stake in Sempra Energy by 79.5% during the 1st quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 116 shares during the period. Ares Financial Consulting LLC acquired a new stake in Sempra Energy during the 4th quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Sempra Energy by 57.7% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock valued at $31,000 after buying an additional 127 shares during the period. Finally, Key Financial Inc increased its holdings in Sempra Energy by 73.6% in the fourth quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock valued at $32,000 after buying an additional 153 shares in the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Argus raised Sempra Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, March 4th. Barclays reiterated an “overweight” rating and issued a $105.00 target price (up from $95.00) on shares of Sempra Energy in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $101.00 target price on shares of Sempra Energy in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company upped their price target on Sempra Energy from $113.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.64.

Sempra Energy Price Performance

Shares of Sempra Energy stock traded down $1.79 during mid-day trading on Friday, reaching $94.00. 4,674,495 shares of the stock traded hands, compared to its average volume of 3,152,691. The business has a 50-day moving average of $94.91 and a 200 day moving average of $91.84. Sempra Energy has a fifty-two week low of $69.08 and a fifty-two week high of $101.04. The stock has a market capitalization of $61.41 billion, a PE ratio of 34.06, a PEG ratio of 3.62 and a beta of 0.67. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 0.75.

Sempra Energy (NYSE:SRE) last announced its earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.16. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts predict that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Thursday, March 19th were issued a $0.6575 dividend. This is a boost from Sempra Energy’s previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, March 19th. Sempra Energy’s payout ratio is 95.29%.

About Sempra Energy

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.