Sempra Energy (SRE) Downgraded by Bank of America to “Neutral”

Bank of America lowered shares of Sempra Energy (NYSE:SRE) from a buy rating to a neutral rating in a report released on Friday, MarketBeat.com reports. They currently have $112.00 price objective on the utilities provider’s stock.

SRE has been the topic of a number of other research reports. Royal Bank of Canada reissued a buy rating on shares of Sempra Energy in a research report on Tuesday, November 7th. JPMorgan Chase & Co. cut their price objective on shares of Sempra Energy from $126.00 to $125.00 and set a neutral rating on the stock in a research report on Thursday, October 12th. Goldman Sachs Group raised shares of Sempra Energy from a neutral rating to a buy rating and boosted their price objective for the stock from $117.00 to $129.00 in a research report on Wednesday, October 11th. Finally, Wells Fargo & Co cut their price objective 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. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sempra Energy has an average rating of Buy and an average target price of $123.11.

Shares of Sempra Energy (NYSE:SRE) opened at $108.31 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. The company has a market cap of $27,190.00, a price-to-earnings ratio of 24.02, a PEG ratio of 2.29 and a beta of 0.61. Sempra Energy has a 1 year low of $99.71 and a 1 year high of $122.97.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.04. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.64 billion. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 earnings per share. research analysts forecast that Sempra Energy will post 5.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.8225 dividend. The ex-dividend date is Thursday, December 28th. This represents a $3.29 annualized dividend and a dividend yield of 3.04%. Sempra Energy’s dividend payout ratio is currently 72.95%.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Sempra Energy by 0.3% in the second quarter. BlackRock Inc. now owns 20,037,400 shares of the utilities provider’s stock valued at $2,259,219,000 after purchasing an additional 68,576 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Sempra Energy by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,796,341 shares of the utilities provider’s stock valued at $2,006,537,000 after purchasing an additional 429,693 shares during the last quarter. Capital International Investors grew its stake in shares of Sempra Energy by 14.8% in the third quarter. Capital International Investors now owns 11,467,602 shares of the utilities provider’s stock valued at $1,308,797,000 after acquiring an additional 1,474,282 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sempra Energy by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock valued at $454,591,000 after acquiring an additional 80,131 shares in the last quarter. Finally, Parnassus Investments CA grew its stake in shares of Sempra Energy by 8.0% in the third quarter. Parnassus Investments CA now owns 3,602,061 shares of the utilities provider’s stock valued at $411,103,000 after acquiring an additional 265,851 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

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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.

Analyst Recommendations for Sempra Energy (NYSE:SRE)

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