Sempra Energy (SRE) Position Reduced by IBM Retirement Fund

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IBM Retirement Fund lowered its stake in shares of Sempra Energy (NYSE:SRE) by 7.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,910 shares of the utilities provider’s stock after selling 451 shares during the period. IBM Retirement Fund’s holdings in Sempra Energy were worth $686,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Shelter Harbor Advisors LP acquired a new stake in shares of Sempra Energy during the 1st quarter valued at $13,903,000. IFP Advisors Inc lifted its stake in shares of Sempra Energy by 13.2% in the 1st quarter. IFP Advisors Inc now owns 10,550 shares of the utilities provider’s stock valued at $1,173,000 after purchasing an additional 1,233 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $708,000. Bright Rock Capital Management LLC acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $7,663,000. Finally, Lido Advisors LLC acquired a new stake in shares of Sempra Energy in the 1st quarter valued at $244,000. 88.28% of the stock is owned by institutional investors.

Shares of SRE opened at $118.03 on Friday. The firm has a market capitalization of $32.31 billion, a P/E ratio of 21.78, a PEG ratio of 2.74 and a beta of 0.39. Sempra Energy has a one year low of $100.49 and a one year high of $122.97. The company has a current ratio of 0.58, a quick ratio of 0.54 and a debt-to-equity ratio of 1.28.

Sempra Energy (NYSE:SRE) last announced its earnings results on Monday, August 6th. The utilities provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.18 by $0.17. Sempra Energy had a negative net margin of 5.89% and a positive return on equity of 8.69%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. research analysts expect that Sempra Energy will post 5.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 21st will be issued a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a dividend yield of 3.03%. Sempra Energy’s payout ratio is 66.05%.

SRE has been the subject of several analyst reports. Argus lifted their price objective on shares of Sempra Energy to $130.00 and gave the company a “buy” rating in a research note on Monday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Sempra Energy in a research note on Friday, August 17th. ValuEngine raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Monday, June 11th. JPMorgan Chase & Co. set a $110.00 price objective on shares of Sempra Energy and gave the company a “hold” rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co downgraded shares of Sempra Energy from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $118.00 to $123.00 in a report on Tuesday, June 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $123.11.

About Sempra Energy

Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.

Further Reading: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Sempra Energy (NYSE:SRE)

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