Sempra Energy (NYSE:SRE) was downgraded by Bank of America to a “hold” rating in a note issued to investors on Thursday. They currently have a $112.00 price objective on the utilities provider’s stock. Bank of America’s price target indicates a potential upside of 4.59% from the company’s current price.
SRE has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their target price on shares of Sempra Energy from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Wells Fargo & Co lowered their target price on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, October 10th. Royal Bank of Canada reissued a “buy” rating on shares of Sempra Energy in a research note on Tuesday, November 7th. Finally, Goldman Sachs Group raised shares of Sempra Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $117.00 to $129.00 in a research note on Wednesday, October 11th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Sempra Energy has a consensus rating of “Buy” and an average target price of $123.11.
Sempra Energy (NYSE:SRE) traded up $0.08 during mid-day trading on Thursday, hitting $107.08. 1,274,000 shares of the stock traded hands, compared to its average volume of 1,161,084. The company has a market capitalization of $27,073.70, a P/E ratio of 23.74, a P/E/G ratio of 2.31 and a beta of 0.61. Sempra Energy has a 12-month low of $99.71 and a 12-month high of $122.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.40 and a quick ratio of 0.36.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Sempra Energy by 0.3% in the second quarter. BlackRock Inc. now owns 20,037,400 shares of the utilities provider’s stock worth $2,259,219,000 after purchasing an additional 68,576 shares during the period. Vanguard Group Inc. grew its holdings in Sempra Energy by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,796,341 shares of the utilities provider’s stock worth $2,006,537,000 after purchasing an additional 429,693 shares during the period. Capital International Investors grew its holdings in Sempra Energy by 14.8% in the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock worth $1,308,797,000 after purchasing an additional 1,474,282 shares during the period. JPMorgan Chase & Co. grew its holdings in Sempra Energy by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock worth $454,591,000 after purchasing an additional 80,131 shares during the period. Finally, Parnassus Investments CA grew its holdings in Sempra Energy by 8.0% in the third quarter. Parnassus Investments CA now owns 3,602,061 shares of the utilities provider’s stock worth $411,103,000 after purchasing an additional 265,851 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.
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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.
