Sempra Energy (NYSE:SRE) Receives $113.15 Consensus Price Target from Analysts
Shares of Sempra Energy (NYSE:SRE) have been assigned an average rating of “Buy” from the five research firms that are covering the firm. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $113.15.
SRE has been the subject of a number of research reports. Goldman Sachs Group Inc. lowered shares of Sempra Energy from a “conviction-buy” rating to a “neutral” rating and dropped their target price for the stock from $109.90 to $109.46 in a report on Sunday, June 12th. Zacks Investment Research raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Finally, Argus reaffirmed a “buy” rating on shares of Sempra Energy in a report on Tuesday.
In related news, Director William P. Rutledge sold 5,000 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $107.20, for a total value of $536,000.00. Following the completion of the sale, the director now owns 10,838 shares of the company’s stock, valued at $1,161,833.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Trevor I. Mihalik sold 5,659 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $106.86, for a total transaction of $604,720.74. Following the completion of the sale, the senior vice president now directly owns 2,615 shares of the company’s stock, valued at approximately $279,438.90. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SRE. Vanguard Group Inc. boosted its position in Sempra Energy by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,367,180 shares of the company’s stock worth $1,752,166,000 after buying an additional 453,003 shares during the last quarter. State Street Corp boosted its position in Sempra Energy by 0.6% in the second quarter. State Street Corp now owns 11,819,959 shares of the company’s stock worth $1,347,713,000 after buying an additional 67,319 shares during the last quarter. FMR LLC boosted its position in Sempra Energy by 3.8% in the second quarter. FMR LLC now owns 8,890,701 shares of the company’s stock worth $1,013,717,000 after buying an additional 323,028 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Sempra Energy by 84.1% in the second quarter. JPMorgan Chase & Co. now owns 7,275,776 shares of the company’s stock worth $829,585,000 after buying an additional 3,324,658 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Sempra Energy by 6.5% in the second quarter. BlackRock Fund Advisors now owns 7,270,762 shares of the company’s stock worth $829,012,000 after buying an additional 442,955 shares during the last quarter. 79.54% of the stock is currently owned by institutional investors.
Sempra Energy (NYSE:SRE) opened at 110.58 on Tuesday. The firm’s 50-day moving average is $106.31 and its 200-day moving average is $106.56. Sempra Energy has a 52-week low of $86.72 and a 52-week high of $114.66. The stock has a market cap of $27.66 billion, a P/E ratio of 29.20 and a beta of 0.47.
Sempra Energy (NYSE:SRE) last released its earnings results on Thursday, August 4th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.18. Sempra Energy had a return on equity of 9.49% and a net margin of 9.56%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company earned $1.03 EPS. Sempra Energy’s quarterly revenue was down 8.9% compared to the same quarter last year. Equities research analysts predict that Sempra Energy will post $4.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Thursday, September 29th will be issued a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, September 27th. Sempra Energy’s dividend payout ratio is currently 79.68%.
About Sempra Energy
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.
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