Morgan Stanley Raises Sempra Energy (SRE) Price Target to $132.00

Sempra Energy (NYSE:SRE) had its price target boosted by equities research analysts at Morgan Stanley from $131.00 to $132.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 0.64% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Wells Fargo & Co raised their price target on Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. ValuEngine upgraded Sempra Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. TheStreet upgraded Sempra Energy from a “c+” rating to a “b” rating in a research note on Tuesday, February 26th. Zacks Investment Research downgraded Sempra Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Argus raised their price target on Sempra Energy to $142.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $130.14.

Shares of SRE stock traded up $1.80 on Thursday, reaching $131.16. The stock had a trading volume of 189,144 shares, compared to its average volume of 1,666,406. The company has a market cap of $35.48 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.58 and a beta of 0.52. Sempra Energy has a 1 year low of $100.49 and a 1 year high of $130.80. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.38 and a quick ratio of 0.36.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.23. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $3.12 billion. Sempra Energy had a return on equity of 10.57% and a net margin of 9.89%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the business posted $1.43 EPS. As a group, analysts expect that Sempra Energy will post 6.01 earnings per share for the current year.

In related news, Director Lynn Schenk sold 5,000 shares of Sempra Energy stock in a transaction on Monday, April 15th. The stock was sold at an average price of $128.92, for a total transaction of $644,600.00. Following the transaction, the director now directly owns 16,306 shares in the company, valued at $2,102,169.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP G Joyce Rowland sold 2,393 shares of Sempra Energy stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $120.86, for a total value of $289,217.98. Following the transaction, the vice president now owns 12,461 shares in the company, valued at $1,506,036.46. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Karp Capital Management Corp bought a new stake in Sempra Energy during the fourth quarter valued at about $25,000. Global Retirement Partners LLC raised its holdings in Sempra Energy by 361.5% during the fourth quarter. Global Retirement Partners LLC now owns 240 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 188 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Sempra Energy by 10,582.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,099,319 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 3,070,305 shares during the period. 1 North Wealth Services LLC bought a new stake in Sempra Energy during the fourth quarter valued at about $30,000. Finally, Johnson Financial Group Inc. raised its holdings in Sempra Energy by 1,285.0% during the fourth quarter. Johnson Financial Group Inc. now owns 277 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 257 shares during the period. Institutional investors own 97.19% of the company’s stock.

Sempra Energy Company Profile

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 generates, transmits, and distributes electricity; and supplies natural gas.

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Analyst Recommendations for Sempra Energy (NYSE:SRE)

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