Goldman Sachs Group, Inc. (The) upgraded shares of Sempra Energy (NYSE:SRE) from a neutral rating to a buy rating in a research note released on Wednesday morning. The brokerage currently has $129.00 price objective on the utilities provider’s stock.
SRE has been the topic of several other research reports. Wells Fargo & Company cut their price objective on Sempra Energy from $130.00 to $128.00 and set an outperform rating on the stock in a report on Tuesday. Zacks Investment Research downgraded Sempra Energy from a buy rating to a hold rating in a report on Tuesday, August 8th. BidaskClub downgraded Sempra Energy from a hold rating to a sell rating in a report on Monday, July 31st. Morgan Stanley boosted their price objective on Sempra Energy from $131.00 to $134.00 and gave the company an overweight rating in a report on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a buy rating and issued a $117.00 price objective on shares of Sempra Energy in a report on Monday, July 24th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $124.22.
Sempra Energy (NYSE:SRE) traded up 0.89% during trading on Wednesday, hitting $115.96. The stock had a trading volume of 1,161,029 shares. The company has a market cap of $29.11 billion, a P/E ratio of 17.15 and a beta of 0.55. Sempra Energy has a one year low of $92.95 and a one year high of $120.17. The firm has a 50 day moving average of $116.68 and a 200-day moving average of $114.21.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.30. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. Sempra Energy had a return on equity of 9.11% and a net margin of 15.51%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. Equities analysts anticipate that Sempra Energy will post $5.23 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.8225 per share. The ex-dividend date is Thursday, September 21st. This represents a $3.29 annualized dividend and a yield of 2.84%. Sempra Energy’s dividend payout ratio (DPR) is 48.74%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Sempra Energy by 0.3% during the 2nd quarter. BlackRock Inc. now owns 20,037,400 shares of the utilities provider’s stock worth $2,259,219,000 after purchasing an additional 68,576 shares during the period. Vanguard Group Inc. increased its holdings in Sempra Energy by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,796,341 shares of the utilities provider’s stock worth $2,006,537,000 after purchasing an additional 429,693 shares during the period. Capital International Investors increased its holdings in Sempra Energy by 7.1% during the 2nd quarter. Capital International Investors now owns 9,993,320 shares of the utilities provider’s stock worth $1,126,747,000 after purchasing an additional 661,199 shares during the period. Morgan Stanley increased its holdings in Sempra Energy by 1.9% during the 1st quarter. Morgan Stanley now owns 4,087,824 shares of the utilities provider’s stock worth $451,706,000 after purchasing an additional 76,182 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Sempra Energy by 2.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,031,859 shares of the utilities provider’s stock worth $454,591,000 after purchasing an additional 80,131 shares during the period. Institutional investors own 80.80% of the company’s stock.
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.
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