Sempra Energy (SRE) Shares Gap Up to $107.94
Shares of Sempra Energy (NYSE:SRE) gapped up before the market opened on Tuesday . The stock had previously closed at $107.86, but opened at $107.94. Sempra Energy shares last traded at $108.60, with a volume of 698,941 shares traded.
A number of brokerages have issued reports on SRE. Argus reiterated a “buy” rating on shares of Sempra Energy in a research note on Tuesday. Zacks Investment Research upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. Finally, Goldman Sachs Group Inc. lowered shares of Sempra Energy from a “conviction-buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $108.00 in a research note on Monday, June 6th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Sempra Energy presently has an average rating of “Buy” and a consensus price target of $110.87.
The company has a market capitalization of $27.12 billion, a price-to-earnings ratio of 28.63 and a beta of 0.47. The company has a 50-day moving average price of $106.32 and a 200 day moving average price of $106.50.
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Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by $0.18. Sempra Energy had a net margin of 9.56% and a return on equity of 9.49%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue was down 8.9% on a year-over-year basis. On average, analysts predict that Sempra Energy will post $4.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 29th will be paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Tuesday, September 27th. Sempra Energy’s payout ratio is 79.68%.
In other Sempra Energy news, SVP Trevor I. Mihalik sold 5,659 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $106.86, for a total value of $604,720.74. Following the sale, the senior vice president now directly owns 2,615 shares of the company’s stock, valued at approximately $279,438.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William P. Rutledge sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $107.20, for a total value of $536,000.00. Following the completion of the sale, the director now directly owns 10,838 shares in the company, valued at $1,161,833.60. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Sempra Energy by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,367,180 shares of the company’s stock worth $1,752,166,000 after buying an additional 453,003 shares during the last quarter. State Street Corp raised its stake in shares of Sempra Energy by 0.6% in the second quarter. State Street Corp now owns 11,819,959 shares of the company’s stock worth $1,347,713,000 after buying an additional 67,319 shares during the last quarter. FMR LLC raised its stake in shares of Sempra Energy by 3.8% in the second quarter. FMR LLC now owns 8,890,701 shares of the company’s stock worth $1,013,717,000 after buying an additional 323,028 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $829,585,000 after buying an additional 3,324,658 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Sempra Energy by 6.5% in the second quarter. BlackRock Fund Advisors now owns 7,270,762 shares of the company’s stock worth $829,012,000 after buying an additional 442,955 shares during the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
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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