5 Oil and Gas Stocks in Billionaire Steve Cohen’s Portfolio

4. Sempra (NYSE:SRE)

Point72 Asset Management’s Stake Value: $58.32 million

Percentage of Point72 Asset Management’s 13F Portfolio: 0.25%

Number of Hedge Fund Holders: 23

Sempra (NYSE:SRE) is a California-based energy infrastructure company. It primarily focuses on electricity and natural gas infrastructure. The company operated across North and South America up until June 2020, after which it exited the South American market after selling its business in Chile.

Sempra (NYSE:SRE) beat the EPS estimates by $0.01 in the third quarter of 2021. The EPS of the company was $1.70, compared to the $1.69 forecast. On top of that, the company generated $3.01 billion in revenue, beating the estimates of $2.75 billion by 9.74%. 

On October 19, Sempra’s (NYSE:SRE) price target was lowered by Mizuho analyst Anthony Crowdell to $139 down from $154; however, the analyst kept a Buy rating on the company’s shares.

Sempra (NYSE:SRE) was mentioned by ClearBridge Investments in their second-quarter 2021 investor letter. Here are the contents of the letter:

“Over the last year we have increased our exposure to utilities and during the quarter we continued to build out our position in Sempra. We added to utilities during the depths of the pandemic as their stocks sold off despite the defensive nature of their businesses. In a world of uncertainty, utilities offered predictable results with an attractive entry point. Our investment thesis in utilities, however, is not merely defensive; we believe utilities are one of the best ways to capitalize on the energy transition as the world decarbonizes and electrifies. As we move to electric vehicles and renewable power, the world will see tremendous investment in electric infrastructure. Utilities will build the grids of the future and this investment should drive attractive earnings growth for decades. We have focused our utilities investments in states with aggressive green policy initiatives that will drive strong growth.”