Sempra Energy (SRE) PT Raised to $124.00

Sempra Energy (NYSE:SRE) had its price target hoisted by research analysts at J P Morgan Chase & Co from $123.00 to $124.00 in a research note issued on Wednesday. The firm currently has a “neutral” rating on the utilities provider’s stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 5.53% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Bank of America Corporation began coverage on shares of Sempra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $125.00 target price for the company. Goldman Sachs Group, Inc. (The) upgraded shares of Sempra Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $129.00 in a research report on Wednesday, October 11th. Wells Fargo & Company dropped their price target on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 10th. Morgan Stanley raised their price target on shares of Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Sempra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Sempra Energy presently has a consensus rating of “Buy” and an average price target of $124.20.

Shares of Sempra Energy (NYSE:SRE) traded down 1.12% during midday trading on Wednesday, hitting $116.18. 180,605 shares of the stock were exchanged. The firm’s 50-day moving average is $115.35 and its 200-day moving average is $114.65. The stock has a market cap of $29.17 billion, a price-to-earnings ratio of 17.18 and a beta of 0.55. Sempra Energy has a 12 month low of $92.95 and a 12 month high of $120.17.

Sempra Energy (NYSE:SRE) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.04. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company posted $1.02 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that Sempra Energy will post $5.22 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. grew its position in shares of Sempra Energy by 27.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 202 shares during the period. Grove Bank & Trust grew its position in shares of Sempra Energy by 38.3% in the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 286 shares during the period. WESPAC Advisors SoCal LLC grew its position in shares of 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 period. Parallel Advisors LLC grew its position in shares of Sempra Energy by 49.7% in the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 436 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Sempra Energy in the first quarter valued at about $170,000. Institutional investors and hedge funds own 80.62% 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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