Sempra Energy (SRE) Price Target Lowered to $120.00 at Morgan Stanley

Sempra Energy (NYSE:SRE) had its price objective decreased by Morgan Stanley from $121.00 to $120.00 in a report released on Friday, MarketBeat.com reports. Morgan Stanley currently has a hold rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on SRE. Argus upgraded shares of Sempra Energy from a hold rating to a buy rating in a research note on Friday, June 1st. JPMorgan Chase & Co. lowered their price target on shares of Sempra Energy from $112.00 to $105.00 and set a neutral rating on the stock in a research note on Monday, June 4th. ValuEngine upgraded shares of Sempra Energy from a sell rating to a hold rating in a research note on Monday, June 11th. Wells Fargo & Co lowered shares of Sempra Energy from an outperform rating to a market perform rating and lifted their price target for the company from $118.00 to $123.00 in a research note on Tuesday, June 12th. Finally, Bank of America lifted their price target on shares of Sempra Energy from $111.00 to $118.00 and gave the company a neutral rating in a research note on Tuesday, June 12th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $123.22.

Shares of NYSE:SRE opened at $115.21 on Friday. Sempra Energy has a 12 month low of $100.49 and a 12 month high of $127.22. The company has a current ratio of 0.58, a quick ratio of 0.54 and a debt-to-equity ratio of 1.28. The firm has a market cap of $31.51 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.67 and a beta of 0.39.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Monday, August 6th. The utilities provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.17. Sempra Energy had a negative net margin of 5.89% and a positive return on equity of 8.69%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. research analysts predict that Sempra Energy will post 5.43 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 21st will be paid a $0.895 dividend. The ex-dividend date is Thursday, September 20th. This represents a $3.58 annualized dividend and a yield of 3.11%. Sempra Energy’s payout ratio is currently 66.05%.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in shares of Sempra Energy by 3.0% during the 2nd quarter. Northern Trust Corp now owns 3,347,745 shares of the utilities provider’s stock worth $388,707,000 after purchasing an additional 96,158 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of Sempra Energy by 5,266.3% during the 2nd quarter. Nomura Holdings Inc. now owns 3,138,899 shares of the utilities provider’s stock worth $364,458,000 after purchasing an additional 3,080,406 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Sempra Energy by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 2,195,244 shares of the utilities provider’s stock worth $254,852,000 after purchasing an additional 147,022 shares during the last quarter. Magellan Asset Management Ltd increased its stake in shares of Sempra Energy by 3.9% during the 1st quarter. Magellan Asset Management Ltd now owns 1,660,686 shares of the utilities provider’s stock worth $184,701,000 after purchasing an additional 62,242 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Sempra Energy by 4.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,405,699 shares of the utilities provider’s stock worth $163,217,000 after purchasing an additional 59,400 shares during the last quarter. Institutional investors own 88.22% of the company’s stock.

About Sempra Energy

Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment engages in the generation, transmission, and distribution of electricity.

Featured Story: What is Considered a Good Return on Equity (ROE)?

Analyst Recommendations for Sempra Energy (NYSE:SRE)

Receive News & Ratings for Sempra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply