Shares of Sempra Energy (NYSE:SRE) have received a consensus rating of “Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $146.06.
SRE has been the subject of a number of research analyst reports. Wells Fargo & Co downgraded Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $145.00 price target for the company. in a research report on Monday, August 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their target price on Sempra Energy from $139.00 to $136.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. KeyCorp raised shares of Sempra Energy from a “sector weight” rating to an “overweight” rating and set a $141.00 price target on the stock in a report on Tuesday, July 21st. Morgan Stanley increased their price target on shares of Sempra Energy from $143.00 to $144.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. Finally, Seaport Global Securities initiated coverage on shares of Sempra Energy in a research report on Monday, June 15th. They issued a “buy” rating and a $142.00 price objective on the stock.
Shares of SRE stock traded down $1.83 on Friday, hitting $120.89. The stock had a trading volume of 1,171,066 shares, compared to its average volume of 1,220,952. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.80 and a quick ratio of 0.77. The business has a 50 day moving average of $126.34 and a 200 day moving average of $125.09. Sempra Energy has a 12-month low of $88.00 and a 12-month high of $161.87. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 2.16 and a beta of 0.67.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $1.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.01). Sempra Energy had a return on equity of 11.47% and a net margin of 38.49%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts expect that Sempra Energy will post 7.62 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Friday, September 25th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Thursday, September 24th. Sempra Energy’s payout ratio is currently 61.65%.
In other news, Director Michael N. Mears bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $131.83 per share, with a total value of $263,660.00. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at approximately $263,660. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Trevor I. Mihalik sold 10,281 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $124.16, for a total transaction of $1,276,488.96. Following the completion of the sale, the chief financial officer now owns 15,464 shares in the company, valued at $1,920,010.24. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 6,700 shares of company stock worth $864,068. 0.09% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in SRE. Bridgeway Capital Management Inc. raised its position in shares of Sempra Energy by 36.1% in the second quarter. Bridgeway Capital Management Inc. now owns 178,500 shares of the utilities provider’s stock worth $20,926,000 after buying an additional 47,300 shares in the last quarter. WFA of San Diego LLC bought a new position in Sempra Energy in the 2nd quarter worth about $300,000. Quadrature Capital Ltd bought a new position in Sempra Energy in the 2nd quarter worth about $7,201,000. Stephens Inc. AR raised its holdings in shares of Sempra Energy by 30.7% in the 2nd quarter. Stephens Inc. AR now owns 2,473 shares of the utilities provider’s stock valued at $290,000 after acquiring an additional 581 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sempra Energy by 2.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,294,764 shares of the utilities provider’s stock valued at $151,786,000 after acquiring an additional 25,496 shares during the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.
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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