Sempra Energy (SRE) Upgraded to “B” by TheStreet

TheStreet upgraded shares of Sempra Energy (NYSE:SRE) from a c+ rating to a b rating in a research note released on Wednesday.

SRE has been the subject of a number of other reports. Morgan Stanley initiated coverage on Sempra Energy in a research note on Friday, August 10th. They set a weight rating for the company. Bank of America reduced their price objective on Sempra Energy from $122.00 to $120.00 and set a neutral rating on the stock in a report on Wednesday, September 26th. JPMorgan Chase & Co. set a $110.00 price objective on Sempra Energy and gave the stock a hold rating in a report on Monday, July 30th. ValuEngine upgraded Sempra Energy from a hold rating to a buy rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $129.00 price objective on Sempra Energy and gave the stock a buy rating in a report on Monday, September 17th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $123.38.

Shares of SRE stock traded down $1.37 on Wednesday, reaching $116.60. 127,218 shares of the company’s stock were exchanged, compared to its average volume of 1,738,837. Sempra Energy has a 52 week low of $100.49 and a 52 week high of $127.22. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.58. The firm has a market capitalization of $30.96 billion, a P/E ratio of 21.57, a P/E/G ratio of 2.60 and a beta of 0.37.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.10. Sempra Energy had a positive return on equity of 8.69% and a negative net margin of 5.89%. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the company earned $1.04 EPS. Sempra Energy’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Sempra Energy will post 5.42 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 21st were issued a dividend of $0.895 per share. The ex-dividend date was Thursday, September 20th. This represents a $3.58 annualized dividend and a yield of 3.07%. Sempra Energy’s payout ratio is currently 66.05%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRE. Girard Partners LTD. purchased a new position in shares of Sempra Energy in the 3rd quarter valued at $168,000. Bank of New York Mellon Corp increased its holdings in shares of Sempra Energy by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,391,551 shares of the utilities provider’s stock valued at $272,041,000 after acquiring an additional 35,552 shares during the period. AXA increased its holdings in shares of Sempra Energy by 20.8% in the 3rd quarter. AXA now owns 278,820 shares of the utilities provider’s stock valued at $31,716,000 after acquiring an additional 48,018 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Sempra Energy by 7.1% in the 3rd quarter. Alliancebernstein L.P. now owns 473,571 shares of the utilities provider’s stock valued at $53,869,000 after acquiring an additional 31,275 shares during the period. Finally, Keybank National Association OH increased its holdings in shares of Sempra Energy by 3.1% in the 3rd quarter. Keybank National Association OH now owns 135,805 shares of the utilities provider’s stock valued at $15,448,000 after acquiring an additional 4,082 shares during the period. Institutional investors own 88.44% of the company’s stock.

Sempra Energy Company Profile

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.

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Analyst Recommendations for Sempra Energy (NYSE:SRE)

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