Pictet Asset Management Holding SA increased its stake in Sempra Energy (NYSE: SRE) by 14.8% during the third quarter, acquiring an additional 606,600 shares. The institutional investor now holds 4,700,225 shares, representing 0.72% of the company, valued at $366,430,000.
Other institutional investors have also adjusted their positions in Sempra Energy. Pure Financial Advisors LLC initiated a new position worth $4,555,000 in the second quarter. Carnegie Investment Counsel boosted its holdings by 15.5% during the first quarter, while Magellan Asset Management Ltd increased its stake by 4.2%. Bank of America Corp DE raised its position by 16.1%, and Swiss National Bank grew its holdings by 7.1% during the same period.
Wall Street analysts have recently weighed in on Sempra Energy. Wall Street Zen upgraded the stock from a "sell" to a "hold" rating. LADENBURG THALM/SH SH lowered its price target to $89.50 but maintained a "buy" rating. Jefferies Financial Group raised its rating to "buy" with a price target of $97.00. JPMorgan Chase & Co. set an "overweight" rating with a price target of $99.00, and HSBC initiated coverage with a "buy" rating and a $97.50 price target. The stock currently has an average "Moderate Buy" rating with a consensus target price of $99.47.
Sempra Energy reported third-quarter adjusted earnings per share (EPS) of $1.40, beating estimates of $1.22. However, revenue of $3.19 billion fell short of the $3.31 billion expected. The company's 2026 EPS guidance ranges from $4.80 to $5.30, with an expected 20% increase in Oncor’s base capital plan. Shares opened at $78.16 on Friday, with a market cap of $51.11 billion and a dividend yield of 3.4%.