Sempra Energy’s (SRE) Buy Rating Reiterated at Argus
Sempra Energy (NYSE:SRE)‘s stock had its “buy” rating reaffirmed by analysts at Argus in a research note issued on Tuesday.
SRE has been the subject of a number of other research reports. Zacks Investment Research raised Sempra Energy from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th. Goldman Sachs Group Inc. downgraded Sempra Energy from a “conviction-buy” rating to a “neutral” rating and lowered 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 company. Sempra Energy currently has an average rating of “Buy” and an average target price of $110.87.
Sempra Energy (NYSE:SRE) opened at 107.94 on Tuesday. Sempra Energy has a 12-month low of $86.72 and a 12-month high of $114.66. The stock has a market cap of $27.00 billion, a P/E ratio of 28.50 and a beta of 0.47. The stock has a 50 day moving average price of $106.41 and a 200-day moving average price of $106.42.
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Sempra Energy (NYSE:SRE) last posted its quarterly 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. Sempra Energy had a net margin of 9.56% and a return on equity of 9.49%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the firm posted $1.03 EPS. Sempra Energy’s revenue was down 8.9% on a year-over-year basis. On average, equities analysts expect that Sempra Energy will post $4.79 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 29th will be paid a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, September 27th. Sempra Energy’s dividend payout ratio is presently 79.68%.
In other Sempra Energy news, SVP Trevor I. Mihalik sold 5,659 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was 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 in the company, valued at $279,438.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William P. Rutledge sold 5,000 shares of the business’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 transaction, the director now owns 10,838 shares in the company, valued at approximately $1,161,833.60. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Gamble Jones Investment Counsel boosted its position in shares of Sempra Energy by 0.4% in the second quarter. Gamble Jones Investment Counsel now owns 2,150 shares of the company’s stock worth $245,000 after buying an additional 9 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its position in shares of Sempra Energy by 0.7% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,250 shares of the company’s stock worth $143,000 after buying an additional 9 shares in the last quarter. Neumann Capital Management LLC boosted its position in shares of Sempra Energy by 0.7% in the second quarter. Neumann Capital Management LLC now owns 2,284 shares of the company’s stock worth $260,000 after buying an additional 16 shares in the last quarter. Sterling Global Strategies LLC boosted its position in shares of Sempra Energy by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 4,614 shares of the company’s stock worth $526,000 after buying an additional 18 shares in the last quarter. Finally, Conning Inc. boosted its position in shares of Sempra Energy by 0.4% in the second quarter. Conning Inc. now owns 5,631 shares of the company’s stock worth $642,000 after buying an additional 20 shares in the last quarter. Institutional investors own 79.55% of the company’s stock.
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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