Wells Fargo & Co Lowers Sempra Energy (SRE) to Hold

Sempra Energy (NYSE:SRE) was downgraded by equities research analysts at Wells Fargo & Co to a “hold” rating in a research note issued to investors on Tuesday.

Several other research analysts have also issued reports on the stock. TheStreet raised shares of Sempra Energy from a “c+” rating to a “b” rating in a research report on Monday, May 7th. Zacks Investment Research raised shares of Sempra Energy from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a research report on Tuesday, April 3rd. Guggenheim reissued a “buy” rating and issued a $122.00 price target on shares of Sempra Energy in a research report on Friday, February 23rd. Argus raised shares of Sempra Energy from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Monday, May 21st. Finally, ValuEngine raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $120.70.

SRE stock opened at $117.19 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.37 and a quick ratio of 0.34. Sempra Energy has a 52-week low of $100.49 and a 52-week high of $122.97. The stock has a market cap of $26.79 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.13 and a beta of 0.47.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Monday, May 7th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.19). The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.28 billion. Sempra Energy had a net margin of 1.45% and a return on equity of 8.30%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the company earned $1.74 earnings per share. equities analysts anticipate that Sempra Energy will post 5.42 EPS for the current fiscal year.

In other news, Chairman Debra L. Reed sold 49,909 shares of the firm’s stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $110.37, for a total transaction of $5,508,456.33. Following the completion of the sale, the chairman now owns 177,227 shares of the company’s stock, valued at $19,560,543.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William G. Ouchi sold 1,918 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $104.80, for a total transaction of $201,006.40. Following the sale, the director now directly owns 14,954 shares of the company’s stock, valued at approximately $1,567,179.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,775 shares of company stock valued at $6,142,993. Company insiders own 0.16% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRE. Summit Trail Advisors LLC grew its stake in shares of Sempra Energy by 11,368.8% during the first quarter. Summit Trail Advisors LLC now owns 1,295,974 shares of the utilities provider’s stock valued at $1,296,000 after purchasing an additional 1,284,674 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Sempra Energy by 186.1% in the first quarter. Neuberger Berman Group LLC now owns 1,963,575 shares of the utilities provider’s stock valued at $218,389,000 after acquiring an additional 1,277,193 shares during the last quarter. BlackRock Inc. boosted its stake in Sempra Energy by 2.5% in the first quarter. BlackRock Inc. now owns 21,157,486 shares of the utilities provider’s stock valued at $2,353,137,000 after acquiring an additional 525,987 shares during the last quarter. Pendal Group Ltd boosted its stake in Sempra Energy by 51.4% in the first quarter. Pendal Group Ltd now owns 1,105,817 shares of the utilities provider’s stock valued at $122,989,000 after acquiring an additional 375,415 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Sempra Energy by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 2,559,513 shares of the utilities provider’s stock valued at $273,662,000 after acquiring an additional 199,223 shares during the last quarter. 90.13% of the stock is currently owned by institutional investors and hedge funds.

About Sempra Energy

Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.

Analyst Recommendations for Sempra Energy (NYSE:SRE)

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