Zacks Reaffirms Neutral Rating for Sempra Energy (SRE)
Sempra Energy (NYSE:SRE)‘s stock had its “neutral” rating reissued by Zacks in a note issued to investors on Tuesday. They currently have a $111.00 price target on the stock. Zacks‘s target price points to a potential upside of 4.75% from the stock’s previous close.
Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on Sempra Energy following the mixed results in the second quarter of 2014. Despite missing the estimates, year-over-year improvement in both the top and bottom line, backed by higher contributions from the company’s utility businesses, is appreciable. The company’s multiple development ventures, including the Cameron Liquefaction project, its continued focus on expanding renewable capacity and systematic asset divestment program will likely boost future cash inflows. The company’s practice of paying regular dividends will also help attract more investors to the stock. However, we prefer to remain on the sidelines due to stringent government regulations and several operational risks.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. set a $107.00 price target on shares of Sempra Energy in a research note on Wednesday, July 9th. They now have an “overweight” rating 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $103.22.
Shares of Sempra Energy (NYSE:SRE) traded down 0.53% during mid-day trading on Tuesday, hitting $105.41. The stock had a trading volume of 811,354 shares. Sempra Energy has a 1-year low of $82.13 and a 1-year high of $106.09. The stock’s 50-day moving average is $101.9 and its 200-day moving average is $98.96. The company has a market cap of $25.898 billion and a P/E ratio of 24.21.
Sempra Energy (NYSE:SRE) last announced its earnings results on Thursday, August 7th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.13 by $0.05. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Sempra Energy will post $4.47 earnings per share for the current fiscal year.
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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