Sempra Energy (NYSE:SRE) Given Average Rating of “Buy” by Brokerages
Shares of Sempra Energy (NYSE:SRE) have been given an average recommendation of “Buy” by the five analysts that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $113.15.
A number of equities analysts have commented on the company. Zacks Investment Research upgraded Sempra Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Argus restated a “buy” rating on shares of Sempra Energy in a research note on Tuesday. Finally, Goldman Sachs Group Inc. downgraded Sempra Energy from a “conviction-buy” rating to a “neutral” rating and decreased their target price for the company from $110.00 to $108.00 in a research note on Monday, June 6th. They noted that the move was a valuation call.
Shares of Sempra Energy (NYSE:SRE) traded up 0.5312% during trading on Tuesday, hitting $108.5134. The stock had a trading volume of 918,160 shares. The firm has a market cap of $27.14 billion, a P/E ratio of 28.6542 and a beta of 0.47. The firm’s 50-day moving average is $106.41 and its 200-day moving average is $106.42. Sempra Energy has a one year low of $86.72 and a one year high of $114.66.
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Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.18. The firm earned $2.16 billion during the quarter, compared to the consensus estimate of $2.62 billion. Sempra Energy had a net margin of 9.56% and a return on equity of 9.49%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. Equities research analysts forecast that Sempra Energy will post $4.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Thursday, September 29th will be given a dividend of $0.755 per share. The ex-dividend date is Tuesday, September 27th. This represents a $3.02 annualized dividend and a dividend yield of 2.80%. Sempra Energy’s dividend payout ratio is presently 79.68%.
In other news, Director William P. Rutledge sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 10,838 shares in the company, valued at $1,161,833.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Trevor I. Mihalik sold 5,659 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $106.86, for a total value 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 disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its position in shares of Sempra Energy by 230.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,151,391 shares of the company’s stock valued at $119,802,000 after buying an additional 802,803 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Sempra Energy by 9.2% in the second quarter. Nisa Investment Advisors LLC now owns 47,350 shares of the company’s stock valued at $5,399,000 after buying an additional 4,000 shares in the last quarter. Shell Asset Management Co. increased its position in shares of Sempra Energy by 54.7% in the second quarter. Shell Asset Management Co. now owns 93,141 shares of the company’s stock valued at $10,620,000 after buying an additional 32,944 shares in the last quarter. Ngam Advisors L.P. acquired a new position in shares of Sempra Energy during the second quarter valued at about $1,297,000. Finally, JPMorgan Chase & Co. increased its position in shares of Sempra Energy by 84.1% in the second quarter. JPMorgan Chase & Co. now owns 7,275,776 shares of the company’s stock valued at $829,585,000 after buying an additional 3,324,658 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.
About Sempra Energy
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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