Shares of Sempra Energy (NYSE:SRE) have earned an average rating of “Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $125.50.
Several research firms have weighed in on SRE. Wells Fargo & Company cut their target price on Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, October 10th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. J P Morgan Chase & Co lowered their price target on Sempra Energy from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, October 12th. Goldman Sachs Group raised Sempra Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $129.00 in a research report on Wednesday, October 11th. Finally, Bank of America began coverage on Sempra Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $125.00 price target on the stock.
Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its position in Sempra Energy by 27.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after buying an additional 202 shares in the last quarter. WESPAC Advisors SoCal LLC grew its position in Sempra Energy by 0.7% during the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock worth $145,000 after buying an additional 9 shares in the last quarter. Parallel Advisors LLC grew its position in Sempra Energy by 49.7% during 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. Fieldpoint Private Securities LLC acquired a new stake in Sempra Energy during the third quarter worth about $153,000. Finally, Rocky Mountain Advisers LLC acquired a new stake in Sempra Energy during the third quarter worth about $183,000. 80.62% of the stock is currently owned by institutional investors.
Sempra Energy (NYSE:SRE) last posted its earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. Sempra Energy had a return on equity of 8.81% and a net margin of 10.22%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company earned $1.02 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. analysts forecast that Sempra Energy will post 5.24 earnings per share for the current fiscal year.
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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