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.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/21/sempra-energy-sre-sets-new-52-week-high-at-118-16.html.
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.
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.