The Riggs Asset Managment Co. Inc. Acquires New Position in Sempra Energy (SRE)

The Riggs Asset Managment Co. Inc. Acquires New Position in Sempra Energy (SRE)

Riggs Asset Managment Co. Inc. purchased a new stake in Sempra Energy (NYSE:SRE) during the second quarter, Holdings Channel reports. The fund purchased 1,000 shares of the company’s stock, valued at approximately $114,000.

Other large investors have also recently modified their holdings of the company. Financial Architects Inc boosted its stake in shares of Sempra Energy by 37.8% in the second quarter. Financial Architects Inc now owns 1,784 shares of the company’s stock valued at $204,000 after buying an additional 489 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Sempra Energy during the second quarter valued at $228,000. Mechanics Bank Trust Department boosted its stake in shares of Sempra Energy by 19.6% in the second quarter. Mechanics Bank Trust Department now owns 2,895 shares of the company’s stock valued at $330,000 after buying an additional 475 shares during the last quarter. ING Groep NV purchased a new stake in shares of Sempra Energy during the second quarter valued at $331,000. Finally, EP Wealth Advisors Inc. purchased a new stake in shares of Sempra Energy during the first quarter valued at $346,000. 79.54% of the stock is currently owned by institutional investors.

Shares of Sempra Energy (NYSE:SRE) traded down 0.56% on Friday, hitting $104.01. The stock had a trading volume of 975,025 shares. The company’s 50 day moving average price is $105.65 and its 200-day moving average price is $107.03. The company has a market cap of $26.01 billion, a P/E ratio of 27.47 and a beta of 0.49. Sempra Energy has a 12 month low of $86.72 and a 12 month high of $114.66.

Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by $0.18. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Sempra Energy had a return on equity of 9.49% and a net margin of 9.56%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, analysts expect that Sempra Energy will post $4.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Thursday, September 29th will be issued a $0.755 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 2.90%. Sempra Energy’s dividend payout ratio is presently 79.68%.

SRE has been the topic of several analyst reports. Argus reissued a “buy” rating on shares of Sempra Energy in a report on Tuesday, September 20th. Zacks Investment Research raised Sempra Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Sempra Energy has a consensus rating of “Hold” and a consensus price target of $110.87.

In other news, Director William P. Rutledge sold 5,000 shares of Sempra Energy stock in a transaction on Monday, August 8th. The stock was sold at an average price of $107.20, for a total value of $536,000.00. Following the transaction, the director now directly owns 10,838 shares in the company, valued at approximately $1,161,833.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Trevor I. Mihalik sold 5,659 shares of Sempra Energy stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $106.86, for a total value of $604,720.74. Following the completion of the transaction, the senior vice president now owns 2,615 shares in the company, valued at $279,438.90. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

About Sempra Energy

Sempra Energy is a holding company. The Company’s principal operating units are San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas); Sempra International, which includes Sempra South American Utilities and Sempra Mexico segments, and Sempra U.S. Gas & Power, which includes Sempra Renewables and Sempra Natural Gas segments.

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