Sempra Energy (SRE) Receives $122.67 Average Price Target from Brokerages
Shares of Sempra Energy (NYSE:SRE) have been given a consensus recommendation of “Buy” by the eight research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $122.67.
SRE has been the topic of a number of research analyst reports. BidaskClub raised Sempra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded Sempra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Morgan Stanley upped their price target on Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Barclays PLC lowered Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 price target on the stock. in a research report on Thursday, June 8th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $117.00 price objective on shares of Sempra Energy in a research note on Monday, July 24th.
Shares of Sempra Energy (NYSE:SRE) traded down 0.13% during mid-day trading on Wednesday, hitting $113.98. 869,990 shares of the stock traded hands. The stock has a market cap of $28.62 billion, a PE ratio of 16.86 and a beta of 0.56. Sempra Energy has a one year low of $92.95 and a one year high of $120.17. The stock has a 50-day moving average of $117.61 and a 200 day moving average of $113.75.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.30. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts predict that Sempra Energy will post $5.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 22nd will be given a dividend of $0.8225 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $3.29 annualized dividend and a dividend yield of 2.89%. Sempra Energy’s dividend payout ratio is currently 48.74%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intl Fcstone Inc. acquired a new position in shares of Sempra Energy during the second quarter worth approximately $851,000. Griffin Asset Management Inc. bought a new position in Sempra Energy in the 2nd quarter worth approximately $3,946,000. Toronto Dominion Bank grew its holdings in Sempra Energy by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 84,810 shares of the utilities provider’s stock worth $9,561,000 after buying an additional 17,343 shares in the last quarter. Cetera Investment Advisers bought a new position in Sempra Energy in the 2nd quarter worth approximately $983,000. Finally, WINTON GROUP Ltd bought a new position in Sempra Energy in the 2nd quarter worth approximately $360,000. 80.80% of the stock is currently owned by institutional investors.
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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