Sempra Energy President Sells $6,501,222 in Stock (SRE)
Sempra Energy (NYSE:SRE) President Mark A. Snell sold 63,700 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $102.06, for a total transaction of $6,501,222.00. Following the transaction, the president now directly owns 61,243 shares in the company, valued at approximately $6,250,461. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at ISI Group upgraded shares of Sempra Energy from a “neutral” rating to a “buy” rating in a research note on Monday, June 9th. They now have a $115.00 price target on the stock, up previously from $95.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Sempra Energy in a research note on Friday, May 23rd. They now have a $103.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Sempra Energy from $102.00 to $105.00 in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $99.57.
Sempra Energy (NYSE:SRE) traded up 0.54% during mid-day trading on Monday, hitting $101.67. The stock had a trading volume of 1,137,166 shares. Sempra Energy has a 52 week low of $77.49 and a 52 week high of $102.28. The stock has a 50-day moving average of $99.27 and a 200-day moving average of $94.33. The company has a market cap of $24.937 billion and a P/E ratio of 23.64.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that Sempra Energy will post $4.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 2.60%.
Sempra Energy is a holding company. During the year ended December 31, 2011, Sempra Energy’s business was organized in five segments consisting of San Diego Gas & Electric Company (NYSE:SRE), Southern California Gas Company (SoCalGas), Sempra Generation, Sempra Pipelines & Storage and Sempra LNG (liquefied natural gas).
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