Sempra Energy (NYSE:SRE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Sempra Energy continues to face headwinds in the form of stringent government regulations and operational risks. Its operations are subject to risks associated with breakdown or failure of equipment or processes due to fuel supply or transportation disruptions, natural calamities and accidents. The company will face operational difficulties in case of any such event. It is further exposed to foreign currency risks because of its international presence and has to invest substantially to expand its operations. Moreover, the Aliso Canyon leak has been pushing up its quarterly expenses. However, steady focus on the expansion of its renewable capacity will enable the company to provide emission-free power to customers. “
Other analysts also recently issued reports about the stock. Bank of America downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Thursday, December 28th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of Sempra Energy from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, October 12th. Goldman Sachs Group raised shares of Sempra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $117.00 to $129.00 in a research report on Wednesday, October 11th. Finally, Wells Fargo & Co reduced their target price on shares of Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Sempra Energy presently has a consensus rating of “Hold” and a consensus target price of $122.33.
Sempra Energy (SRE) opened at $105.99 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.40 and a quick ratio of 0.36. Sempra Energy has a 1-year low of $99.71 and a 1-year high of $122.97. The company has a market cap of $29,117.89, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 2.16 and a beta of 0.62.
Sempra Energy (NYSE:SRE) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.04. Sempra Energy had a net margin of 10.22% and a return on equity of 8.81%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business earned $1.02 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts predict that Sempra Energy will post 5.26 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC purchased a new stake in Sempra Energy during the 3rd quarter valued at about $153,000. Rocky Mountain Advisers LLC purchased a new stake in Sempra Energy during the 3rd quarter valued at about $183,000. San Francisco Sentry Investment Group CA purchased a new stake in Sempra Energy during the 2nd quarter valued at about $186,000. Zions Bancorporation grew its position in Sempra Energy by 281.1% during the 3rd quarter. Zions Bancorporation now owns 1,738 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in Sempra Energy by 89.9% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,812 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 858 shares during the last quarter. 80.55% of the stock is currently owned by institutional investors.
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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.
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