Morgan Stanley Raises Sempra Energy (NYSE:SRE) Price Target to $134.00
Sempra Energy (NYSE:SRE) had its price target increased by equities research analysts at Morgan Stanley from $131.00 to $134.00 in a note issued to investors on Thursday. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 15.46% from the stock’s current price.
A number of other research firms also recently weighed in on SRE. BidaskClub downgraded shares of Sempra Energy from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday. UBS AG restated a “buy” rating and set a $128.00 price target (up previously from $124.00) on shares of Sempra Energy in a report on Tuesday, April 18th. Barclays PLC downgraded shares of Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price target on the stock. in a report on Thursday, June 8th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $117.00 price target on shares of Sempra Energy in a report on Monday, July 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $121.00.
Shares of Sempra Energy (SRE) traded down 0.57% during mid-day trading on Thursday, reaching $116.06. 1,345,024 shares of the company were exchanged. The company has a market capitalization of $29.14 billion, a price-to-earnings ratio of 17.17 and a beta of 0.54. Sempra Energy has a 12 month low of $92.95 and a 12 month high of $117.97. The firm’s 50-day moving average is $113.35 and its 200-day moving average is $111.07.
Sempra Energy (NYSE:SRE) last released its earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.30. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The company’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, equities analysts forecast that Sempra Energy will post $5.18 earnings per share for the current fiscal year.
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In related news, CEO Debra L. Reed sold 23,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $113.43, for a total value of $2,608,890.00. Following the transaction, the chief executive officer now directly owns 112,345 shares in the company, valued at approximately $12,743,293.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRE. Bronfman E.L. Rothschild L.P. raised its position in Sempra Energy by 27.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after buying an additional 202 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Sempra Energy by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock worth $107,000 after buying an additional 6 shares during the last quarter. Grove Bank & Trust raised its position in Sempra Energy by 38.3% in the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock worth $116,000 after buying an additional 286 shares during the last quarter. Parallel Advisors LLC raised its position in Sempra Energy by 49.7% in the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock worth $148,000 after buying an additional 436 shares during the last quarter. Finally, Financial Architects Inc raised its position in Sempra Energy by 0.5% in the first quarter. Financial Architects Inc now owns 1,359 shares of the utilities provider’s stock worth $150,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.
Sempra Energy Company Profile
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.
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