ValuEngine Downgrades Sempra Energy (NYSE:SRE) to Hold

ValuEngine cut shares of Sempra Energy (NYSE:SRE) from a buy rating to a hold rating in a report published on Thursday morning, ValuEngine reports.

Several other brokerages have also recently issued reports on SRE. Morgan Stanley boosted their price objective on Sempra Energy from $132.00 to $142.00 and gave the company an equal weight rating in a report on Thursday, May 23rd. Wells Fargo & Co upped their price target on Sempra Energy from $137.00 to $140.00 and gave the stock an outperform rating in a report on Monday, April 15th. KeyCorp assumed coverage on Sempra Energy in a report on Tuesday, June 4th. They issued an overweight rating and a $151.00 price target for the company. Argus upped their price target on Sempra Energy to $142.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Finally, Bank of America cut Sempra Energy from a buy rating to a neutral rating and upped their price target for the stock from $141.00 to $142.00 in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Sempra Energy presently has a consensus rating of Hold and an average target price of $142.43.

Shares of SRE stock traded down $3.60 on Thursday, hitting $132.08. The company had a trading volume of 58,708 shares, compared to its average volume of 1,331,021. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 2.92 and a beta of 0.45. The company’s 50-day simple moving average is $138.82. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 1.15. Sempra Energy has a twelve month low of $104.88 and a twelve month high of $141.86.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.09). The company had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.32 billion. Sempra Energy had a net margin of 9.89% and a return on equity of 10.57%. During the same period last year, the firm earned $1.35 EPS. As a group, sell-side analysts predict that Sempra Energy will post 6.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, July 5th were issued a $0.9675 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $3.87 dividend on an annualized basis and a yield of 2.93%. Sempra Energy’s payout ratio is 69.48%.

In other Sempra Energy news, insider Joseph A. Householder sold 50,400 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $134.80, for a total transaction of $6,793,920.00. Following the completion of the transaction, the insider now owns 55,115 shares of the company’s stock, valued at $7,429,502. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey W. Martin sold 9,392 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $133.85, for a total value of $1,257,119.20. Following the transaction, the chairman now directly owns 36,403 shares of the company’s stock, valued at approximately $4,872,541.55. The disclosure for this sale can be found here. Insiders sold a total of 60,515 shares of company stock valued at $8,148,984 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the business. Eagle Ridge Investment Management grew its position in shares of Sempra Energy by 0.3% in the first quarter. Eagle Ridge Investment Management now owns 61,767 shares of the utilities provider’s stock valued at $7,774,000 after purchasing an additional 165 shares in the last quarter. TCW Group Inc. purchased a new position in Sempra Energy in the first quarter worth approximately $12,121,000. Wealthfront Advisers LLC grew its position in Sempra Energy by 15.3% in the first quarter. Wealthfront Advisers LLC now owns 12,324 shares of the utilities provider’s stock worth $1,551,000 after acquiring an additional 1,634 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in Sempra Energy by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 41,642 shares of the utilities provider’s stock worth $5,241,000 after acquiring an additional 408 shares during the period. Finally, State Treasurer State of Michigan grew its position in Sempra Energy by 0.8% in the first quarter. State Treasurer State of Michigan now owns 78,938 shares of the utilities provider’s stock worth $9,935,000 after acquiring an additional 600 shares during the period. 96.94% of the stock is owned by institutional investors and hedge funds.

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 generates, transmits, and distributes electricity; and supplies natural gas.

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Analyst Recommendations for Sempra Energy (NYSE:SRE)

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