Sempra Energy (SRE) Sets New 52-Week High at $118.16
Sempra Energy (NYSE:SRE)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $118.16 and last traded at $118.20, with a volume of 1,154,497 shares. The stock had previously closed at $116.55.
SRE has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Sempra Energy from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Friday, April 28th. BMO Capital Markets reaffirmed a “hold” rating and set a $115.00 target price on shares of Sempra Energy in a research report on Wednesday, May 10th. Barclays PLC lowered Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $121.00 target price for the company. in a research report on Thursday, June 8th. BidaskClub lowered Sempra Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 15th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $117.00 target price on shares of Sempra Energy in a research report on Monday, July 24th. Three 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 $121.00.
The stock has a market cap of $29.68 billion, a price-to-earnings ratio of 17.48 and a beta of 0.54. The firm’s 50 day moving average is $113.93 and its 200-day moving average is $111.72.
Sempra Energy (NYSE:SRE) last posted its earnings results on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.30. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Analysts forecast that Sempra Energy will post $5.23 earnings per share for the current year.
In related news, CEO Debra L. Reed sold 23,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $113.43, for a total transaction of $2,608,890.00. Following the transaction, the chief executive officer now owns 112,345 shares of the company’s stock, valued at $12,743,293.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Sempra Energy by 2,725.7% in the first quarter. BlackRock Inc. now owns 19,968,824 shares of the utilities provider’s stock worth $2,206,556,000 after buying an additional 19,262,128 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sempra Energy by 240.3% in the second quarter. Principal Financial Group Inc. now owns 1,283,054 shares of the utilities provider’s stock worth $144,664,000 after buying an additional 905,963 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Sempra Energy during the second quarter worth $85,559,000. Capital International Investors raised its stake in shares of Sempra Energy by 7.1% in the second quarter. Capital International Investors now owns 9,993,320 shares of the utilities provider’s stock worth $1,126,747,000 after buying an additional 661,199 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sempra Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 17,366,648 shares of the utilities provider’s stock worth $1,919,015,000 after buying an additional 596,498 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors.
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About Sempra Energy
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.