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Sempra Energy’s Main Institutional Investor Sold 4 Million Shares

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Sempra Energy and T. Rowe Price

In this series, we’re seeing how institutional investors played out their utility holdings in the first quarter. Let’s look now at Sempra Energy (SRE). T. Rowe Price is the largest institutional investor in Sempra with a 9.3% stake, or 24.6 million shares of the utility’s total outstanding shares. During the first quarter, it sold 4 million SRE shares. In the fourth quarter, it held 5.1% in the utility.

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Why Sempra Energy?

California’s largest utility, Sempra Energy (SRE), was less exposed to the wildfire fiasco in California than the state’s top two utilities (EIX) (PCG). It has strong growth prospects going forward with its acquisition of Oncor Electric. Sempra is already one of the fastest-growing utilities in the industry. With the acquisition of Oncor, its earnings growth is expected to significantly accelerate in the next few quarters.

The Vanguard Group added 1.1 million shares of Sempra Energy in the first quarter, which took its stake to 7.4%.

State Street Global Advisers lowered its stake in Sempra Energy to 4.4% in the first quarter. It sold net 0.6 million shares in the fourth quarter, holding 4.9% of Sempra’s total outstanding shares.

Among the big additions, Franklin Advisers added net 7.5 million shares in the quarter. It held 5.7% of SRE’s total outstanding shares as of March 31.

Capital Research Global Investors added net 3.4 million shares, which took its stake to 4.6% as of March 31.

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