Barclays Lowers Sempra Energy (NYSE:SRE) Price Target to $71.00

Sempra Energy (NYSE:SRE) had its target price cut by Barclays from $72.00 to $71.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts have also recently commented on the stock. Argus cut shares of Sempra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Wells Fargo & Company lowered their target price on Sempra Energy from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. BMO Capital Markets boosted their target price on Sempra Energy from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Morgan Stanley reiterated an “overweight” rating and issued a $88.00 price target (up previously from $87.00) on shares of Sempra Energy in a report on Wednesday, June 18th. Finally, Citigroup lowered their price objective on Sempra Energy from $93.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sempra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $80.75.

Sempra Energy Stock Performance

NYSE:SRE opened at $74.89 on Thursday. The stock has a market capitalization of $48.82 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.63. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. Sempra Energy has a 1 year low of $61.90 and a 1 year high of $95.77. The firm has a 50 day moving average of $75.93 and a 200-day moving average of $76.55.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.90 billion. Sempra Energy had a return on equity of 8.55% and a net margin of 22.15%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, sell-side analysts anticipate that Sempra Energy will post 4.76 EPS for the current fiscal year.

Sempra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Thursday, June 26th will be paid a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, June 26th. Sempra Energy’s payout ratio is 56.70%.

Insider Transactions at Sempra Energy

In other news, insider Diana L. Day sold 8,015 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total transaction of $595,193.90. Following the completion of the transaction, the insider directly owned 16,969 shares in the company, valued at approximately $1,260,117.94. The trade was a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Sempra Energy

A number of hedge funds have recently modified their holdings of the company. Pachira Investments Inc. bought a new stake in shares of Sempra Energy in the 2nd quarter valued at $204,000. Moody National Bank Trust Division increased its holdings in shares of Sempra Energy by 1.7% in the second quarter. Moody National Bank Trust Division now owns 26,034 shares of the utilities provider’s stock worth $1,973,000 after acquiring an additional 432 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Sempra Energy by 6.4% during the second quarter. Baker Tilly Wealth Management LLC now owns 15,477 shares of the utilities provider’s stock worth $1,173,000 after purchasing an additional 936 shares during the period. Fortress Wealth Management Inc. acquired a new stake in shares of Sempra Energy during the second quarter worth about $211,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Sempra Energy by 46.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 253,268 shares of the utilities provider’s stock valued at $19,026,000 after purchasing an additional 79,860 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Energy Company Profile

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.