Sempra Energy (SRE) Sees Strong Trading Volume
Sempra Energy (NYSE:SRE) shares saw unusually-high trading volume on Tuesday . Approximately 2,233,678 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 1,665,680 shares.The stock last traded at $112.19 and had previously closed at $112.95.
SRE has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Sempra Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, April 5th. Goldman Sachs Group Inc. downgraded shares of Sempra Energy from a “conviction-buy” rating to a “neutral” rating and reduced their price objective for the company from $109.90 to $109.46 in a research report on Sunday, June 12th. Finally, Barclays PLC raised their price objective on shares of Sempra Energy from $110.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, April 1st.
The company has a market capitalization of $28.05 billion and a P/E ratio of 22.92. The stock’s 50-day moving average price is $110.96 and its 200 day moving average price is $102.33.
Sempra Energy (NYSE:SRE) last released its earnings results on Wednesday, May 4th. The company reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.19. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the firm earned $1.71 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts anticipate that Sempra Energy will post $4.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.755 dividend. The ex-dividend date was Tuesday, June 28th. This represents a $3.02 annualized dividend and a yield of 2.69%.
In other Sempra Energy news, President Mark A. Snell sold 50,000 shares of Sempra Energy stock in a transaction on Friday, May 6th. The shares were sold at an average price of $103.99, for a total value of $5,199,500.00. Following the transaction, the president now owns 72,909 shares in the company, valued at approximately $7,581,806.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. /Ca/ Jones sold 10,000 shares of Sempra Energy stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $109.69, for a total transaction of $1,096,900.00. Following the completion of the transaction, the director now owns 8,945 shares in the company, valued at approximately $981,177.05. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Trexquant Investment LP bought a new position in shares of Sempra Energy during the fourth quarter worth $3,450,000. Eaton Vance Management raised its position in shares of Sempra Energy by 10.5% in the fourth quarter. Eaton Vance Management now owns 3,115,540 shares of the company’s stock worth $292,892,000 after buying an additional 296,149 shares during the period. Advantus Capital Management Inc raised its position in shares of Sempra Energy by 1.7% in the fourth quarter. Advantus Capital Management Inc now owns 22,510 shares of the company’s stock worth $2,116,000 after buying an additional 373 shares during the period. Andra AP fonden raised its position in shares of Sempra Energy by 1.6% in the fourth quarter. Andra AP fonden now owns 75,500 shares of the company’s stock worth $7,098,000 after buying an additional 1,200 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Sempra Energy by 8,655.9% in the fourth quarter. Victory Capital Management Inc. now owns 782,862 shares of the company’s stock worth $73,597,000 after buying an additional 773,921 shares during the period.
Sempra Energy is a holding company. The Company’s principal operating units are San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas); Sempra International, which includes Sempra South American Utilities and Sempra Mexico segments, and Sempra U.S. Gas & Power, which includes Sempra Renewables and Sempra Natural Gas segments.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.