Sempra (NYSE:SRE) Price Target Raised to $86.00 at Mizuho

Sempra (NYSE:SREFree Report) had its price target boosted by Mizuho from $79.00 to $86.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

SRE has been the subject of a number of other research reports. Barclays lifted their price objective on Sempra from $77.00 to $79.00 and gave the company an overweight rating in a research note on Thursday, March 14th. Wells Fargo & Company boosted their price target on Sempra from $79.00 to $84.00 and gave the company an overweight rating in a report on Wednesday, May 8th. StockNews.com cut shares of Sempra from a hold rating to a sell rating in a research note on Tuesday, February 20th. Morgan Stanley boosted their target price on shares of Sempra from $74.00 to $75.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada restated an outperform rating and set a $82.00 price target on shares of Sempra in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $82.86.

Read Our Latest Report on SRE

Sempra Stock Up 0.6 %

NYSE SRE traded up $0.50 on Friday, hitting $78.17. The stock had a trading volume of 2,588,873 shares, compared to its average volume of 3,336,057. The business’s fifty day moving average price is $71.78 and its 200 day moving average price is $72.24. The stock has a market cap of $49.47 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.62 and a quick ratio of 0.57. Sempra has a 52-week low of $63.75 and a 52-week high of $78.40.

Sempra (NYSE:SREGet Free Report) last announced its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Sempra had a return on equity of 8.95% and a net margin of 20.99%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $5.58 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s quarterly revenue was down 44.5% compared to the same quarter last year. Equities research analysts anticipate that Sempra will post 4.82 earnings per share for the current year.

Sempra Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Thursday, June 27th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, June 27th. Sempra’s dividend payout ratio is presently 54.93%.

Insider Buying and Selling

In other news, VP Trevor I. Mihalik sold 57,571 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $70.59, for a total value of $4,063,936.89. Following the transaction, the vice president now owns 10,922 shares in the company, valued at $770,983.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey W. Martin sold 50,703 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $70.92, for a total transaction of $3,595,856.76. Following the completion of the sale, the chief executive officer now owns 2 shares of the company’s stock, valued at approximately $141.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Trevor I. Mihalik sold 57,571 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $70.59, for a total value of $4,063,936.89. Following the completion of the sale, the vice president now directly owns 10,922 shares of the company’s stock, valued at approximately $770,983.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,432 shares of company stock worth $8,668,035. Insiders own 0.24% of the company’s stock.

Institutional Trading of Sempra

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Sempra by 101.8% during the 3rd quarter. Vanguard Group Inc. now owns 62,117,948 shares of the utilities provider’s stock worth $4,225,884,000 after purchasing an additional 31,334,782 shares during the last quarter. Norges Bank purchased a new stake in shares of Sempra in the 4th quarter valued at approximately $958,253,000. Wellington Management Group LLP lifted its holdings in shares of Sempra by 101.4% in the 3rd quarter. Wellington Management Group LLP now owns 24,206,231 shares of the utilities provider’s stock worth $1,646,750,000 after acquiring an additional 12,184,568 shares during the last quarter. FMR LLC boosted its position in shares of Sempra by 147.0% during the 3rd quarter. FMR LLC now owns 14,360,225 shares of the utilities provider’s stock worth $976,926,000 after purchasing an additional 8,546,205 shares during the period. Finally, Newport Trust Company LLC increased its holdings in Sempra by 104.0% in the 3rd quarter. Newport Trust Company LLC now owns 14,416,527 shares of the utilities provider’s stock valued at $980,756,000 after purchasing an additional 7,348,746 shares during the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

About Sempra

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Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.

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Analyst Recommendations for Sempra (NYSE:SRE)

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