Sempra Energy (SRE) Upgraded to “Buy” at Goldman Sachs Group, Inc. (The)

Sempra Energy (NYSE:SRE) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently commented on SRE. BidaskClub raised shares of Sempra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Morgan Stanley raised their price target on shares of Sempra Energy from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $117.00 price target on shares of Sempra Energy in a research note on Monday, July 24th. Finally, Wells Fargo & Company dropped their price target on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $123.43.

Sempra Energy (NYSE:SRE) opened at 113.81 on Wednesday. Sempra Energy has a 52-week low of $92.95 and a 52-week high of $120.17. The company has a market cap of $28.58 billion, a PE ratio of 16.83 and a beta of 0.55. The company has a 50-day moving average of $116.78 and a 200 day moving average of $114.21.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.30. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. Sempra Energy had a net margin of 15.51% and a return on equity of 9.11%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.79 EPS. Equities research analysts predict that Sempra Energy will post $5.23 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Sempra Energy by 27.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 202 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Sempra Energy by 0.6% during the first quarter. Guardian Life Insurance Co. of America now owns 964 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 6 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Sempra Energy by 38.3% during the second quarter. Grove Bank & Trust now owns 1,033 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 286 shares during the last quarter. WESPAC Advisors SoCal LLC raised its stake in shares of Sempra Energy by 0.7% during the second quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock valued at $145,000 after acquiring an additional 9 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Sempra Energy by 49.7% during the second quarter. Parallel Advisors LLC now owns 1,314 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 436 shares during the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Sempra Energy (NYSE:SRE)

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