Investors Buy Large Volume of Sempra Energy Put Options (SRE)
Sempra Energy (NYSE:SRE) was the target of some unusual options trading activity on Monday. Stock investors acquired 895 put options on the stock. This represents an increase of 685% compared to the average volume of 114 put options.
Several brokerages have recently weighed in on SRE. Royal Bank Of Canada reiterated a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. J P Morgan Chase & Co lifted their target price on shares of Sempra Energy from $123.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Morgan Stanley lifted their target price on shares of Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Bank of America began coverage on shares of Sempra Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Goldman Sachs Group upgraded shares of Sempra Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $117.00 to $129.00 in a research report on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $124.56.
Large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. boosted its position in Sempra Energy by 27.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock valued at $105,000 after buying an additional 202 shares in the last quarter. Grove Bank & Trust raised its stake in shares of 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 acquiring an additional 286 shares during the last quarter. WESPAC Advisors SoCal LLC raised its stake in shares of Sempra Energy by 0.7% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock worth $145,000 after acquiring an additional 9 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of 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 acquiring an additional 436 shares during the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Sempra Energy in the third quarter worth about $153,000. Hedge funds and other institutional investors own 80.62% of the company’s stock.
Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.04. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. equities research analysts predict that Sempra Energy will post 5.24 EPS for the current year.
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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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