Argus Reiterates Buy Rating for Sempra Energy (SRE)
Sempra Energy (NYSE:SRE)‘s stock had its “buy” rating restated by stock analysts at Argus in a report issued on Tuesday.
A number of other equities analysts have also commented on SRE. Zacks Investment Research raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. lowered shares of Sempra Energy from a “conviction-buy” rating to a “neutral” rating and dropped their price target for the company from $109.90 to $109.46 in a research report on Sunday, June 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $110.87.
Shares of Sempra Energy (NYSE:SRE) opened at 108.75 on Tuesday. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 28.72 and a beta of 0.47. The company’s 50-day moving average is $106.41 and its 200-day moving average is $106.42. Sempra Energy has a 12-month low of $86.72 and a 12-month high of $114.66.
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Sempra Energy (NYSE:SRE) last posted its earnings results on Thursday, August 4th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.18. The business earned $2.16 billion during the quarter, compared to analyst estimates of $2.62 billion. Sempra Energy had a net margin of 9.56% and a return on equity of 9.49%. Sempra Energy’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that Sempra Energy will post $4.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 29th will be given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Tuesday, September 27th. Sempra Energy’s dividend payout ratio (DPR) is currently 79.68%.
In related news, SVP Trevor I. Mihalik sold 5,659 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $106.86, for a total transaction of $604,720.74. Following the transaction, the senior vice president now owns 2,615 shares of the company’s stock, valued at $279,438.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William P. Rutledge sold 5,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $107.20, for a total transaction of $536,000.00. Following the transaction, the director now directly owns 10,838 shares in the company, valued at approximately $1,161,833.60. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SRE. Nomura Asset Management Co. Ltd. raised its position in shares of Sempra Energy by 0.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 28,348 shares of the company’s stock worth $2,665,000 after buying an additional 200 shares during the period. PGGM Investments raised its stake in shares of Sempra Energy by 6.6% in the first quarter. PGGM Investments now owns 210,294 shares of the company’s stock valued at $21,881,000 after buying an additional 12,967 shares during the period. Commonwealth Equity Services Inc raised its stake in shares of Sempra Energy by 2.5% in the first quarter. Commonwealth Equity Services Inc now owns 36,407 shares of the company’s stock valued at $3,788,000 after buying an additional 881 shares during the period. Aperio Group LLC raised its stake in shares of Sempra Energy by 7.1% in the first quarter. Aperio Group LLC now owns 100,512 shares of the company’s stock valued at $10,458,000 after buying an additional 6,628 shares during the period. Finally, Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Sempra Energy during the first quarter valued at about $538,000. 79.55% of the stock is currently owned by institutional investors and hedge funds.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas); Sempra International, which includes Sempra South American Utilities and Sempra Mexico segments, and Sempra U.S. Gas & Power, which includes Sempra Renewables and Sempra Natural Gas segments.
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