Sempra Energy (SRE) Price Target Lowered to $125.00 at J P Morgan Chase & Co
Sempra Energy (NYSE:SRE) had its price target reduced by J P Morgan Chase & Co from $126.00 to $125.00 in a research note published on Thursday. J P Morgan Chase & Co currently has a neutral rating on the utilities provider’s stock.
A number of other brokerages have also weighed in on SRE. BidaskClub raised Sempra Energy from a hold rating to a buy rating in a report on Tuesday, August 8th. Zacks Investment Research lowered Sempra Energy from a buy rating to a hold rating in a report on Tuesday, August 8th. Morgan Stanley increased their price objective on Sempra Energy from $131.00 to $134.00 and gave the company an overweight rating in a report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) raised Sempra Energy from a neutral rating to a buy rating and set a $129.00 price objective on the stock in a report on Wednesday. Finally, Royal Bank Of Canada reissued a buy rating and issued a $117.00 price objective on shares of Sempra Energy in a report on Monday, July 24th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Sempra Energy presently has an average rating of Buy and a consensus price target of $124.22.
Sempra Energy (NYSE:SRE) traded down 0.94% during midday trading on Thursday, reaching $114.87. The company had a trading volume of 1,237,806 shares. Sempra Energy has a 1-year low of $92.95 and a 1-year high of $120.17. The company has a market capitalization of $28.84 billion, a P/E ratio of 16.99 and a beta of 0.55. The firm has a 50-day moving average of $116.61 and a 200 day moving average of $114.22.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.30. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. On average, equities research analysts forecast that Sempra Energy will post $5.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 22nd will be issued a dividend of $0.8225 per share. This represents a $3.29 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, September 21st. Sempra Energy’s dividend payout ratio (DPR) is 48.74%.
Hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. boosted its position in Sempra Energy by 27.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 202 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in Sempra Energy by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 6 shares in the last quarter. Grove Bank & Trust boosted its position in Sempra Energy by 38.3% during the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 286 shares in the last quarter. WESPAC Advisors SoCal LLC boosted its position in Sempra Energy by 0.7% during the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock worth $145,000 after purchasing an additional 9 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Sempra Energy by 49.7% during the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 436 shares in the last quarter. Institutional investors own 80.80% of the company’s stock.
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.
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