Sempra Energy (SRE) Upgraded at Zacks Investment Research
According to Zacks, “Sempra Energy’s future cash inflow will likely get tailwinds from LNG development prospects and renewable expansion. Steady focus on the expansion of its renewable capacity will enable the company to provide emission-free power to its customers. It is also confident of attaining 12% earnings CAGR through 2020 backed by these factors. However, the company also faces headwinds in the form of stringent government regulations and operational risks. It is further exposed to foreign currency risks because of its international presence and has to invest substantially to expand its operations.”
Separately, Goldman Sachs Group Inc. lowered shares of Sempra Energy from a conviction-buy rating to a neutral rating and dropped their target price for the stock from $110.00 to $108.00 in a report on Monday, June 6th. They noted that the move was a valuation call.
Sempra Energy (NYSE:SRE) opened at 106.62 on Wednesday. The stock has a market cap of $26.67 billion, a P/E ratio of 28.15 and a beta of 0.47. Sempra Energy has a 52 week low of $86.72 and a 52 week high of $114.66. The stock has a 50 day moving average price of $107.06 and a 200-day moving average price of $106.17.
Sempra Energy (NYSE:SRE) last posted its earnings results on Thursday, August 4th. The company reported $0.79 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.18. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Sempra Energy had a return on equity of 9.49% and a net margin of 9.56%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, equities analysts anticipate that Sempra Energy will post $4.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 29th will be paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, September 27th. Sempra Energy’s payout ratio is currently 79.68%.
In related news, Director William P. Rutledge sold 5,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $107.20, for a total value of $536,000.00. Following the completion of the transaction, the director now directly owns 10,838 shares of the company’s stock, valued at $1,161,833.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Trevor I. Mihalik sold 5,659 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $106.86, for a total transaction of $604,720.74. Following the completion of the transaction, the senior vice president now directly owns 2,615 shares of the company’s stock, valued at $279,438.90. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System bought a new position in Sempra Energy during the first quarter worth about $398,000. Mn Services Vermogensbeheer B.V. bought a new position in Sempra Energy during the first quarter worth about $538,000. Aperio Group LLC increased its position in Sempra Energy by 7.1% in the first quarter. Aperio Group LLC now owns 100,512 shares of the company’s stock worth $10,458,000 after buying an additional 6,628 shares during the last quarter. Commonwealth Equity Services Inc increased its position in Sempra Energy by 2.5% in the first quarter. Commonwealth Equity Services Inc now owns 36,407 shares of the company’s stock worth $3,788,000 after buying an additional 881 shares during the last quarter. Finally, PGGM Investments increased its position in Sempra Energy by 6.6% in the first quarter. PGGM Investments now owns 210,294 shares of the company’s stock worth $21,881,000 after buying an additional 12,967 shares during the last quarter. 79.55% of the stock is owned by institutional investors.
Sempra Energy Company Profile
Sempra Energy is a holding company. The Company’s principal operating units are San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas); Sempra International, which includes Sempra South American Utilities and Sempra Mexico segments, and Sempra U.S. Gas & Power, which includes Sempra Renewables and Sempra Natural Gas segments.
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