Kayne Anderson Capital Advisors LP has decreased its holdings in Sempra Energy (NYSE: SRE) by 4.8%, selling 31,305 shares during the second quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC), Kayne Anderson Capital Advisors now holds 627,068 shares of the energy provider, representing approximately 1.1% of its investment portfolio. This positions Sempra Energy as the 19th largest holding for the firm, valued at about $47.5 million.
Several institutional investors have also adjusted their positions in Sempra Energy recently. Vanguard Group Inc. increased its shares by 1.9% in the first quarter, now owning 64,238,102 shares valued at $4.58 billion. Wellington Management Group LLP made a more significant move, boosting its holdings by 26.8% to 48,686,047 shares worth $3.47 billion. Other notable changes include Newport Trust Company LLC, which lifted its position by 0.3%, and Price T Rowe Associates Inc. MD, which increased its stake by 4.0%. Invesco Ltd. also added to its holdings, growing its position by 12.4%.
As of now, approximately 89.65% of Sempra Energy’s stock is held by institutional investors and hedge funds.
Sempra Energy Stock Overview
Shares of Sempra Energy opened at $92.40 on Thursday. The stock has experienced a 12-month low of $61.90 and a high of $95.77. With a market capitalization of $60.29 billion, Sempra Energy has a price-to-earnings (P/E) ratio of 22.32 and a price-to-earnings-growth (PEG) ratio of 2.84. The company’s current ratio stands at 0.48, while the quick ratio is 0.41 and the debt-to-equity ratio is 0.93. Its fifty-day moving average price is $87.99, and the 200-day moving average price is $81.08.
Recently, Sempra Energy declared a quarterly dividend of $0.645, which was paid on October 15, 2023. This dividend results in an annualized amount of $2.58 and a yield of 2.8%. The ex-dividend date for this payment was October 1, 2023, and the company’s dividend payout ratio currently stands at 62.32%.
Insider Activity and Analyst Ratings
In related news, insider activity at Sempra Energy has been notable. Director Kevin C. Sagara sold 14,433 shares on September 29, 2023, at an average price of $89.50, amounting to a total transaction of approximately $1.29 million. Following this sale, Sagara now directly owns 1,042 shares valued at $93,259, marking a 93.27% decrease in his position. Additionally, Executive Vice President Caroline Ann Winn sold 5,114 shares on August 14, 2023, for a total of about $419,399.
In the last three months, insiders have sold a total of 48,411 shares valued at approximately $4.14 million, with insiders currently holding 0.27% of the stock.
Analysts have recently weighed in on Sempra Energy, with several research reports published. Evercore ISI set a price target of $105.00 and rated the stock as “outperform” on October 6, 2023. Weiss Ratings maintained a “hold (c+)” rating, while Morgan Stanley reiterated an “overweight” rating with a target of $99.00. Citigroup also adjusted its rating to “neutral” and increased its target from $70.00 to $80.00. Wells Fargo & Company initiated coverage, giving Sempra Energy an “overweight” rating with a target price of $115.00.
Currently, two analysts have rated Sempra Energy with a “Strong Buy,” six have issued a “Buy,” and six have rated it as a “Hold.” According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.00.
Sempra Energy operates as an energy infrastructure company, providing essential services across three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure.
