Sempra Energy (SRE) Upgraded by Zacks Investment Research to Buy
According to Zacks, “Sempra Energy’s future cash inflow will likely derive tailwinds from LNG development prospects and renewable expansion. Focus on the expansion of renewable capacity will enable the company to provide emission-free electricity to its customers. It is also confident of attaining a 12% earnings CAGR through 2020 backed by these factors. IEnova is expected to be one of the major growth drivers at the company over the next several years. However, Sempra Energy’s share price has underperformed the Zacks Categorized Utility-Gas Distribution industry price over the last one year as it continues to face headwinds in the form of stringent government regulations and operational risks.”
Several other equities research analysts also recently weighed in on the company. Guggenheim reaffirmed a buy rating and issued a $121.00 target price on shares of Sempra Energy in a research report on Monday, November 7th. Argus reaffirmed a buy rating on shares of Sempra Energy in a research report on Tuesday, September 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Sempra Energy has an average rating of Buy and a consensus price target of $114.69.
Sempra Energy (NYSE:SRE) opened at 101.27 on Tuesday. The firm has a market cap of $25.36 billion, a price-to-earnings ratio of 18.79 and a beta of 0.52. Sempra Energy has a 52-week low of $86.72 and a 52-week high of $114.66. The firm’s 50-day moving average price is $102.12 and its 200 day moving average price is $106.68.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. Sempra Energy had a return on equity of 9.41% and a net margin of 13.24%. The firm earned $2.54 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Sempra Energy will post $4.81 EPS for the current year.
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In other news, Director Alan L. Boeckmann acquired 6,000 shares of the business’s stock in a transaction on Tuesday, November 29th. The shares were purchased at an average price of $101.52 per share, for a total transaction of $609,120.00. Following the completion of the purchase, the director now directly owns 5,102 shares of the company’s stock, valued at approximately $517,955.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd boosted its stake in shares of Sempra Energy by 200.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 900 shares of the company’s stock valued at $103,000 after buying an additional 600 shares during the last quarter. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Sempra Energy during the second quarter valued at about $114,000. Cantab Capital Partners LLP purchased a new stake in shares of Sempra Energy during the second quarter valued at about $126,000. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Sempra Energy during the second quarter valued at about $128,000. Finally, FineMark National Bank & Trust boosted its stake in shares of Sempra Energy by 4.3% in the second quarter. FineMark National Bank & Trust now owns 1,134 shares of the company’s stock valued at $129,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.
Sempra Energy Company Profile
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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