Sempra Energy (NYSE:SRE) Stock Rating Reaffirmed by Royal Bank Of Canada
Sempra Energy (NYSE:SRE)‘s stock had its “buy” rating reiterated by equities researchers at Royal Bank Of Canada in a research report issued on Monday. They currently have a $117.00 price objective on the utilities provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 3.24% from the stock’s previous close.
Several other analysts have also issued reports on the company. Morgan Stanley upped their price objective on Sempra Energy from $129.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, May 8th. BidaskClub upgraded Sempra Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. BMO Capital Markets restated a “hold” rating and issued a $115.00 price objective on shares of Sempra Energy in a research note on Wednesday, May 10th. Barclays PLC lowered Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price objective on the stock. in a research note on Thursday, June 8th. Finally, UBS AG restated a “buy” rating and issued a $128.00 price objective (up previously from $124.00) on shares of Sempra Energy in a research note on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $120.43.
Sempra Energy (NYSE SRE) traded down 1.39% on Monday, reaching $113.33. The company had a trading volume of 927,495 shares. Sempra Energy has a 12 month low of $92.95 and a 12 month high of $117.97. The company’s 50 day moving average price is $113.81 and its 200-day moving average price is $109.85. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.50 and a beta of 0.54.
Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Tuesday, May 9th. The utilities provider reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.15. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.87 billion. Sempra Energy had a return on equity of 9.06% and a net margin of 13.77%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. On average, equities analysts predict that Sempra Energy will post $5.10 earnings per share for the current fiscal year.
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In other 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 owns 112,345 shares in the company, valued at $12,743,293.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in SRE. Quadrature Capital Ltd purchased a new position in shares of Sempra Energy during the fourth quarter worth $770,000. Brookfield Asset Management Inc. raised its position in shares of Sempra Energy by 13.8% in the fourth quarter. Brookfield Asset Management Inc. now owns 724,085 shares of the utilities provider’s stock worth $72,872,000 after buying an additional 88,000 shares during the period. Perigon Wealth Management LLC raised its position in shares of Sempra Energy by 69.7% in the fourth quarter. Perigon Wealth Management LLC now owns 11,261 shares of the utilities provider’s stock worth $1,230,000 after buying an additional 4,625 shares during the period. Kentucky Retirement Systems purchased a new position in shares of Sempra Energy during the fourth quarter worth $1,826,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Sempra Energy during the fourth quarter worth $815,000. Institutional investors own 80.50% of the company’s stock.
About Sempra Energy
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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