Traders Buy Sempra Energy (SRE) on Weakness
Traders purchased shares of Sempra Energy (NYSE:SRE) on weakness during trading on Wednesday. $47.45 million flowed into the stock on the tick-up and $34.62 million flowed out of the stock on the tick-down, for a money net flow of $12.83 million into the stock. Of all companies tracked, Sempra Energy had the 30th highest net in-flow for the day. Sempra Energy traded down ($0.47) for the day and closed at $106.59
A number of analysts recently weighed in on the company. Royal Bank of Canada restated a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. JPMorgan Chase & Co. boosted their target price on Sempra Energy from $123.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Bank of America assumed coverage on Sempra Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $125.00 target price for the company. Goldman Sachs Group upgraded Sempra Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $129.00 in a research report on Wednesday, October 11th. Finally, Wells Fargo & Co dropped their target price on Sempra Energy from $130.00 to $128.00 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $122.33.
The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.96. The firm has a market cap of $26,670.00, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.18 and a beta of 0.62.
Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.04. Sempra Energy had a return on equity of 8.81% and a net margin of 10.22%. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company posted $1.02 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. equities analysts predict that Sempra Energy will post 5.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 29th were given a $0.8225 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $3.29 annualized dividend and a yield of 3.10%. Sempra Energy’s payout ratio is currently 72.95%.
A number of hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC lifted its position in Sempra Energy by 0.7% in the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 9 shares during the last quarter. Chartist Inc. CA lifted its position in Sempra Energy by 0.4% in the second quarter. Chartist Inc. CA now owns 2,885 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 11 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Sempra Energy by 1.0% during the second quarter. Salem Investment Counselors Inc. now owns 4,549 shares of the utilities provider’s stock valued at $513,000 after acquiring an additional 44 shares in the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Sempra Energy by 1.6% during the second quarter. Peapack Gladstone Financial Corp now owns 4,080 shares of the utilities provider’s stock valued at $460,000 after acquiring an additional 65 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its holdings in shares of Sempra Energy by 0.5% during the second quarter. Laurel Wealth Advisors Inc. now owns 14,125 shares of the utilities provider’s stock valued at $1,592,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 80.55% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.watchlistnews.com/traders-buy-sempra-energy-sre-on-weakness/1813795.html.
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.
Receive News & Ratings for Sempra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra Energy and related companies with MarketBeat.com's FREE daily email newsletter.