Sempra Energy $SRE Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Sempra Energy (NYSE:SRE) by 106.3% during the third quarter, Holdings Channel reports. The firm owned 10,428,007 shares of the utilities provider’s stock after acquiring an additional 5,374,277 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sempra Energy were worth $938,325,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sempra Energy by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 66,328,942 shares of the utilities provider’s stock worth $5,025,777,000 after buying an additional 2,090,840 shares in the last quarter. State Street Corp raised its stake in shares of Sempra Energy by 3.7% in the 2nd quarter. State Street Corp now owns 34,380,068 shares of the utilities provider’s stock valued at $2,626,827,000 after acquiring an additional 1,214,931 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Sempra Energy by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 14,036,572 shares of the utilities provider’s stock valued at $1,058,214,000 after acquiring an additional 525,750 shares in the last quarter. Norges Bank acquired a new stake in Sempra Energy in the 2nd quarter worth approximately $701,649,000. Finally, Bank of New York Mellon Corp boosted its position in Sempra Energy by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 5,159,207 shares of the utilities provider’s stock worth $464,225,000 after purchasing an additional 60,247 shares during the period. Institutional investors own 89.65% of the company’s stock.

Insider Activity at Sempra Energy

In related news, CFO Karen L. Sedgwick sold 7,564 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $92.29, for a total value of $698,081.56. Following the sale, the chief financial officer owned 41,280 shares of the company’s stock, valued at $3,809,731.20. The trade was a 15.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SRE shares. Morgan Stanley set a $97.00 price objective on shares of Sempra Energy and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Wells Fargo & Company reissued an “overweight” rating and set a $112.00 target price (down previously from $115.00) on shares of Sempra Energy in a research report on Tuesday, January 20th. Jefferies Financial Group set a $89.00 price target on Sempra Energy and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen raised Sempra Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.83.

Sempra Energy Stock Down 2.0%

Shares of SRE stock opened at $92.89 on Wednesday. Sempra Energy has a one year low of $61.90 and a one year high of $95.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.56. The stock has a fifty day moving average price of $88.72 and a 200 day moving average price of $88.15. The stock has a market cap of $60.63 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 2.53 and a beta of 0.74.

Sempra Energy Profile

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.