Sempra Energy (NYSE:SRE) Receives Consensus Rating of “Buy” from Brokerages
Sempra Energy (NYSE:SRE) has been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $122.00.
A number of brokerages have issued reports on SRE. BMO Capital Markets reissued a “hold” rating and set a $115.00 price objective on shares of Sempra Energy in a research report on Wednesday, May 10th. Morgan Stanley reduced their price objective on shares of Sempra Energy from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Friday, April 28th. BidaskClub downgraded shares of Sempra Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a research report on Monday, July 24th. Finally, Barclays PLC downgraded shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price objective on the stock. in a research report on Thursday, June 8th.
In other news, CEO Debra L. Reed sold 23,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total value of $2,608,890.00. Following the sale, the chief executive officer now directly owns 112,345 shares of the company’s stock, valued at approximately $12,743,293.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in SRE. Guardian Life Insurance Co. of America increased its stake 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 in the last quarter. Grove Bank & Trust increased its stake in Sempra Energy by 38.3% in the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock worth $116,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC increased its stake in Sempra Energy by 49.7% in the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock worth $148,000 after buying an additional 436 shares in the last quarter. Financial Architects Inc increased its stake 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 in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Sempra Energy during the first quarter worth $170,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sempra Energy (SRE) traded up 0.32% on Tuesday, reaching $117.49. 869,178 shares of the company traded hands. The stock’s 50 day moving average price is $113.25 and its 200-day moving average price is $110.71. The stock has a market capitalization of $29.47 billion, a P/E ratio of 20.22 and a beta of 0.54. Sempra Energy has a one year low of $92.95 and a one year high of $117.97.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.30. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. Sempra Energy had a net margin of 15.51% and a return on equity of 9.26%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. Equities analysts forecast that Sempra Energy will post $5.12 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Stockholders of record on Friday, July 7th were given a $0.8225 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Wednesday, July 5th. Sempra Energy’s dividend payout ratio is presently 48.74%.
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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