Traders Sell Shares of Sempra Energy (SRE) on Strength Following Analyst Downgrade
Investors sold shares of Sempra Energy (NYSE:SRE) on strength during trading on Thursday after Bank of America lowered their price target on the stock from $122.00 to $120.00. $37.65 million flowed into the stock on the tick-up and $76.56 million flowed out of the stock on the tick-down, for a money net flow of $38.91 million out of the stock. Of all companies tracked, Sempra Energy had the 0th highest net out-flow for the day. Sempra Energy traded up $0.94 for the day and closed at $112.00
A number of other brokerages have also recently commented on SRE. Wells Fargo & Co set a $129.00 price target on shares of Sempra Energy and gave the company a “buy” rating in a research report on Monday, September 17th. Morgan Stanley increased their price target on shares of Sempra Energy from $120.00 to $121.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. ValuEngine upgraded shares of Sempra Energy from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Argus increased their price target on shares of Sempra Energy to $130.00 and gave the company a “buy” rating in a research report on Monday, July 9th. Finally, JPMorgan Chase & Co. set a $110.00 price target on shares of Sempra Energy and gave the company a “hold” rating in a research report on Monday, July 30th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Sempra Energy currently has a consensus rating of “Buy” and an average target price of $123.11.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Squar Milner Financial Services LLC bought a new position in shares of Sempra Energy in the second quarter worth approximately $105,000. Signaturefd LLC grew its holdings in shares of Sempra Energy by 191.5% in the second quarter. Signaturefd LLC now owns 1,603 shares of the utilities provider’s stock worth $186,000 after purchasing an additional 1,053 shares during the last quarter. Savant Capital LLC bought a new position in shares of Sempra Energy in the second quarter worth approximately $201,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Sempra Energy in the second quarter worth approximately $202,000. Finally, Howland Capital Management LLC bought a new position in shares of Sempra Energy in the second quarter worth approximately $203,000. Institutional investors and hedge funds own 88.21% of the company’s stock.
Sempra Energy (NYSE:SRE) last issued its earnings results on Monday, August 6th. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.17. Sempra Energy had a negative net margin of 5.89% and a positive return on equity of 8.69%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. equities analysts forecast that Sempra Energy will post 5.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 21st will be issued a $0.895 dividend. This represents a $3.58 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, September 20th. Sempra Energy’s dividend payout ratio is 66.05%.
Sempra Energy Company Profile (NYSE:SRE)
Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.
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