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.
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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