Sempra Energy (NYSE:SRE) Given Average Rating of “Hold” by Brokerages
Shares of Sempra Energy (NYSE:SRE) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $121.75.
Several analysts recently commented on SRE shares. Barclays PLC cut Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price on the stock. in a report on Thursday, June 8th. BidaskClub upgraded Sempra Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. BMO Capital Markets reiterated a “hold” rating and issued a $115.00 target price on shares of Sempra Energy in a report on Wednesday, May 10th. Finally, Morgan Stanley upped their target price on Sempra Energy from $129.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, May 8th.
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Shares of Sempra Energy (NYSE:SRE) traded up 0.48% on Friday, hitting $112.15. 792,862 shares of the stock traded hands. The stock has a market cap of $28.13 billion, a PE ratio of 19.30 and a beta of 0.54. The stock has a 50 day moving average of $114.20 and a 200-day moving average of $108.83. Sempra Energy has a 1-year low of $92.95 and a 1-year high of $117.97.
Sempra Energy (NYSE:SRE) last announced its earnings results on Tuesday, May 9th. The utilities provider reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.15. Sempra Energy had a return on equity of 9.06% and a net margin of 13.77%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business posted $1.27 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts expect that Sempra Energy will post $5.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Friday, July 7th will be issued a dividend of $0.8225 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, July 5th. Sempra Energy’s payout ratio is 56.92%.
In other Sempra Energy news, CEO Debra L. Reed sold 23,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the transaction, the chief executive officer now directly owns 112,345 shares in the company, valued at approximately $12,743,293.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Sempra Energy by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock worth $107,000 after buying an additional 6 shares during the last quarter. Financial Architects Inc boosted its position in Sempra Energy by 0.5% in the first quarter. Financial Architects Inc now owns 1,359 shares of the utilities provider’s stock worth $150,000 after buying an additional 7 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Sempra Energy during the first quarter worth about $170,000. Signaturefd LLC acquired a new position in Sempra Energy during the first quarter worth about $201,000. Finally, Pacific Center for Financial Services boosted its position in Sempra Energy by 265.1% in the first quarter. Pacific Center for Financial Services now owns 1,829 shares of the utilities provider’s stock worth $202,000 after buying an additional 1,328 shares during the last quarter. Hedge funds and other institutional investors own 82.04% of the company’s stock.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.
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