Sempra Energy (SRE) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Sempra Energy (NYSE:SRE) from a sell rating to a hold rating in a research note published on Monday, July 24th.

SRE has been the topic of several other reports. Morgan Stanley reduced their target price on Sempra Energy from $133.00 to $129.00 and set an overweight rating on the stock in a report on Friday, April 28th. Barclays PLC lowered Sempra Energy from an overweight rating to an equal weight rating and set a $121.00 target price on the stock. in a report on Thursday, June 8th. Royal Bank Of Canada reissued a buy rating and set a $117.00 target price on shares of Sempra Energy in a report on Monday, July 24th. BMO Capital Markets reissued a hold rating and set a $115.00 target price on shares of Sempra Energy in a report on Wednesday, May 10th. Finally, UBS AG reissued a buy rating and set a $128.00 target price (up from $124.00) on shares of Sempra Energy in a report on Tuesday, April 18th. Three investment 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 an average price target of $121.00.

Sempra Energy (NYSE:SRE) opened at 116.55 on Monday. Sempra Energy has a one year low of $92.95 and a one year high of $117.97. The firm’s 50 day moving average price is $113.93 and its 200-day moving average price is $111.72. The company has a market capitalization of $29.26 billion, a PE ratio of 17.24 and a beta of 0.54.

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 the consensus estimate of $0.80 by $0.30. The company 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%. Sempra Energy’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Equities analysts forecast that Sempra Energy will post $5.23 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 dated Tuesday, May 23rd. The stock was sold at an average price of $113.43, for a total value of $2,608,890.00. Following the sale, the chief executive officer now directly owns 112,345 shares of the company’s stock, valued at $12,743,293.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in Sempra Energy by 25.7% in the second quarter. Toronto Dominion Bank now owns 84,810 shares of the utilities provider’s stock valued at $9,561,000 after buying an additional 17,343 shares in the last quarter. Cetera Investment Advisers purchased a new position in Sempra Energy during the second quarter valued at approximately $983,000. WINTON GROUP Ltd purchased a new position in Sempra Energy during the second quarter valued at approximately $360,000. Covington Capital Management increased its position in Sempra Energy by 8.4% in the second quarter. Covington Capital Management now owns 36,069 shares of the utilities provider’s stock valued at $4,067,000 after buying an additional 2,800 shares in the last quarter. Finally, Nomura Holdings Inc. increased its position in Sempra Energy by 585.2% in the second quarter. Nomura Holdings Inc. now owns 22,202 shares of the utilities provider’s stock valued at $2,505,000 after buying an additional 18,962 shares in the last quarter. Hedge funds and other institutional investors own 80.54% 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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