Sempra Energy (NYSE:SRE) Price Target Raised to $134.00 at Morgan Stanley
Sempra Energy (NYSE:SRE) had its target price raised by Morgan Stanley from $131.00 to $134.00 in a research note issued to investors on Thursday. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 15.46% from the stock’s current price.
Other analysts have also issued reports about the stock. BidaskClub raised shares of Sempra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $117.00 price target on shares of Sempra Energy in a research note on Monday, July 24th. UBS AG reaffirmed a “buy” rating and issued a $128.00 price target (up from $124.00) on shares of Sempra Energy in a research note on Tuesday, April 18th. Barclays PLC lowered shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price target for the company. in a research note on Thursday, June 8th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $115.00 price target on shares of Sempra Energy in a research note on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sempra Energy currently has a consensus rating of “Buy” and an average target price of $121.00.
Shares of Sempra Energy (NYSE SRE) traded down 0.57% on Thursday, reaching $116.06. 1,347,067 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $113.35 and its 200-day moving average price is $111.07. Sempra Energy has a 1-year low of $92.95 and a 1-year high of $117.97. The company has a market capitalization of $29.14 billion, a P/E ratio of 17.17 and a beta of 0.54.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.46 billion. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS. Analysts anticipate that Sempra Energy will post $5.18 EPS for the current fiscal year.
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In related news, CEO Debra L. Reed sold 23,000 shares of the business’s stock in a transaction that occurred on 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 in the company, 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 the SEC website. 0.17% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Sempra Energy by 2,725.7% in the first quarter. BlackRock Inc. now owns 19,968,824 shares of the utilities provider’s stock worth $2,206,556,000 after buying an additional 19,262,128 shares during the last quarter. Vanguard Group Inc. increased its stake in Sempra Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,366,648 shares of the utilities provider’s stock worth $1,919,015,000 after buying an additional 596,498 shares during the last quarter. Wellington Management Group LLP increased its stake in Sempra Energy by 4.9% in the first quarter. Wellington Management Group LLP now owns 8,542,152 shares of the utilities provider’s stock worth $943,907,000 after buying an additional 400,464 shares during the last quarter. Morgan Stanley increased its stake in Sempra Energy by 1.9% in the first quarter. Morgan Stanley now owns 4,087,824 shares of the utilities provider’s stock worth $451,706,000 after buying an additional 76,182 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Sempra Energy by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock worth $454,591,000 after buying an additional 80,131 shares during the last quarter. Institutional investors and hedge funds own 80.51% 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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