Richard Mark Acquires 2,692 Shares of Sempra Energy (NYSE:SRE) Stock

Sempra Energy (NYSE:SRE) Director Richard Mark bought 2,692 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $93.30 per share, with a total value of $251,163.60. Following the completion of the purchase, the director owned 17,376 shares of the company’s stock, valued at approximately $1,621,180.80. The trade was a 18.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sempra Energy Stock Performance

Shares of SRE stock opened at $93.15 on Friday. The stock has a market cap of $60.85 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 3.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.59 and a quick ratio of 1.57. The stock has a 50-day moving average of $90.63 and a 200-day moving average of $89.48. Sempra Energy has a one year low of $61.90 and a one year high of $97.44.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.16. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, March 19th will be issued a dividend of $0.6575 per share. The ex-dividend date is Thursday, March 19th. This is a boost from Sempra Energy’s previous quarterly dividend of $0.65. This represents a $2.63 annualized dividend and a yield of 2.8%. Sempra Energy’s dividend payout ratio is currently 93.48%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Sempra Energy from $112.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Barclays set a $95.00 price target on Sempra Energy and gave the company an “overweight” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded shares of Sempra Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $101.00 price target on shares of Sempra Energy in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Sempra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Hedge Funds Weigh In On Sempra Energy

Several large investors have recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of Sempra Energy during the third quarter worth $25,000. Ares Financial Consulting LLC acquired a new stake in Sempra Energy in the fourth quarter valued at $26,000. Clal Insurance Enterprises Holdings Ltd raised its position in Sempra Energy by 57.7% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Sempra Energy by 83.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 161 shares during the last quarter. Finally, Key Financial Inc lifted its holdings in Sempra Energy by 73.6% during the 4th quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock worth $32,000 after buying an additional 153 shares during the period. Institutional investors own 89.65% of the company’s stock.

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.