Bank of America Corporation Begins Coverage on Sempra Energy (SRE)
Analysts at Bank of America Corporation began coverage on shares of Sempra Energy (NYSE:SRE) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $125.00 price target on the utilities provider’s stock. Bank of America Corporation’s price objective suggests a potential upside of 9.24% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $117.00 price target on shares of Sempra Energy in a report on Monday, July 24th. Wells Fargo & Company cut their price target on Sempra Energy from $130.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, October 10th. Goldman Sachs Group, Inc. (The) raised Sempra Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $117.00 to $129.00 in a report on Wednesday, October 11th. Morgan Stanley lifted their price target on Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Finally, J P Morgan Chase & Co dropped their price objective on Sempra Energy from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Sempra Energy has a consensus rating of “Buy” and a consensus target price of $124.30.
Sempra Energy (SRE) traded down 0.13% during trading on Tuesday, reaching $114.28. 467,905 shares of the company’s stock traded hands. The firm’s 50 day moving average is $115.73 and its 200-day moving average is $114.46. Sempra Energy has a 12 month low of $92.95 and a 12 month high of $120.17. The company has a market capitalization of $28.69 billion, a price-to-earnings ratio of 16.90 and a beta of 0.56.
Sempra Energy (NYSE:SRE) last released its quarterly earnings results 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. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts expect that Sempra Energy will post $5.23 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC raised its holdings in Sempra Energy by 0.7% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 9 shares during the last quarter. Chartist Inc. CA grew its position in shares of Sempra Energy by 0.4% during the 2nd quarter. Chartist Inc. CA now owns 2,885 shares of the utilities provider’s stock worth $325,000 after buying an additional 11 shares during the period. Weatherly Asset Management L. P. grew its position in shares of Sempra Energy by 0.4% during the 2nd quarter. Weatherly Asset Management L. P. now owns 4,442 shares of the utilities provider’s stock worth $501,000 after buying an additional 17 shares during the period. Aspiriant LLC grew its position in shares of Sempra Energy by 0.7% during the 2nd quarter. Aspiriant LLC now owns 2,321 shares of the utilities provider’s stock worth $262,000 after buying an additional 17 shares during the period. Finally, First Hawaiian Bank grew its position in shares of Sempra Energy by 0.4% during the 2nd quarter. First Hawaiian Bank now owns 5,383 shares of the utilities provider’s stock worth $608,000 after buying an additional 24 shares during the period. 80.65% of the stock is owned by hedge funds and other institutional investors.
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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