JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Sempra Energy (NYSE:SRE) Stock

Sempra Energy (NYSE:SRE) had its price target raised by analysts at JPMorgan Chase & Co. from $98.00 to $106.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.45% from the stock’s current price.

Several other equities research analysts have also issued reports on SRE. UBS Group reissued a “neutral” rating and set a $100.00 price target (up from $96.00) on shares of Sempra Energy in a research report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sempra Energy in a report on Wednesday, January 21st. Wells Fargo & Company boosted their target price on shares of Sempra Energy from $112.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Barclays set a $95.00 price target on shares of Sempra Energy and gave the stock an “overweight” rating in a research report on Tuesday, February 3rd. Finally, Wall Street Zen lowered shares of Sempra Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sempra Energy has an average rating of “Moderate Buy” and a consensus price target of $100.55.

Sempra Energy Stock Performance

Shares of SRE stock opened at $95.11 on Wednesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.59. Sempra Energy has a one year low of $61.90 and a one year high of $97.44. The company’s 50-day simple moving average is $91.39 and its 200-day simple moving average is $89.95. The stock has a market capitalization of $62.13 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 3.56 and a beta of 0.73.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same period in the previous year, the company earned $1.50 earnings per share. Sempra Energy’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Sempra Energy

In other news, Director Cynthia J. Warner purchased 2,500 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $92.95 per share, for a total transaction of $232,375.00. Following the completion of the transaction, the director owned 11,275 shares of the company’s stock, valued at approximately $1,048,011.25. The trade was a 28.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard J. Mark acquired 2,692 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $93.30 per share, for a total transaction of $251,163.60. Following the completion of the transaction, the director owned 17,376 shares in the company, valued at $1,621,180.80. The trade was a 18.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 6,192 shares of company stock valued at $576,979. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Sempra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SRE. Meeder Asset Management Inc. acquired a new stake in Sempra Energy in the 3rd quarter valued at approximately $25,000. Ares Financial Consulting LLC bought a new position in shares of Sempra Energy in the fourth quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Sempra Energy by 57.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares in the last quarter. Key Financial Inc increased its holdings in shares of Sempra Energy by 73.6% during the fourth quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 153 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Sempra Energy by 83.0% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 161 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

About Sempra Energy

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.