State of Michigan Retirement System Acquires 10,150 Shares of Sempra Energy (NYSE:SRE)

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State of Michigan Retirement System lifted its holdings in shares of Sempra Energy (NYSE:SRE) by 15.7% during the second quarter, HoldingsChannel reports. The firm owned 74,688 shares of the utilities provider’s stock after purchasing an additional 10,150 shares during the quarter. State of Michigan Retirement System’s holdings in Sempra Energy were worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SRE. Pacer Advisors Inc. purchased a new position in shares of Sempra Energy in the 2nd quarter worth about $2,785,000. Lucia Wealth Services LLC grew its position in shares of Sempra Energy by 33.0% during the 2nd quarter. Lucia Wealth Services LLC now owns 815 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 202 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Sempra Energy by 1.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 52,506 shares of the utilities provider’s stock worth $6,155,000 after purchasing an additional 713 shares during the last quarter. Intact Investment Management Inc. raised its holdings in shares of Sempra Energy by 9.2% in the 2nd quarter. Intact Investment Management Inc. now owns 41,400 shares of the utilities provider’s stock worth $4,851,000 after purchasing an additional 3,500 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in shares of Sempra Energy by 8.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,109 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 91 shares during the period. Institutional investors own 83.41% of the company’s stock.

SRE has been the subject of a number of recent research reports. UBS Group raised their target price on Sempra Energy from $160.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Morgan Stanley boosted their price objective on Sempra Energy from $140.00 to $143.00 and gave the company an “equal weight” rating in a research note on Friday, July 17th. Seaport Global Securities assumed coverage on shares of Sempra Energy in a research report on Monday, June 15th. They set a “buy” rating and a $142.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Sempra Energy from $139.00 to $136.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Barclays restated a “buy” rating and set a $147.00 price target on shares of Sempra Energy in a research note on Wednesday, April 22nd. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $146.13.

In other news, CFO Trevor I. Mihalik sold 10,281 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $124.16, for a total value of $1,276,488.96. Following the completion of the transaction, the chief financial officer now directly owns 15,464 shares in the company, valued at approximately $1,920,010.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Shares of Sempra Energy stock opened at $124.46 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.45 and a quick ratio of 0.43. Sempra Energy has a 1 year low of $88.00 and a 1 year high of $161.87. The firm has a market cap of $36.41 billion, a PE ratio of 15.22, a PEG ratio of 2.30 and a beta of 0.71. The company has a 50 day simple moving average of $121.35 and a two-hundred day simple moving average of $130.50.

Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Monday, May 4th. The utilities provider reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.82. Sempra Energy had a net margin of 22.32% and a return on equity of 11.30%. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the company posted $1.92 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Sempra Energy will post 7.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Friday, June 26th were given a dividend of $1.045 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $4.18 dividend on an annualized basis and a yield of 3.36%. Sempra Energy’s payout ratio is 61.65%.

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 generates, transmits, and distributes electricity; and supplies natural gas.

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

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