Sempra Energy (NYSE:SRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Steady focus on the expansion of its renewable capacity will enable Sempra Energy to provide emission-free power to customers. Over the next five years, the company expects to make capital expenditure and investments of approximately $24.8 billion. Such strong capital investment strategies have led the company to outperform its broader industry in last three months. Its recent Oncor buyout has added Texas’ largest electric transmission and distribution provider to Sempra Energy’s portfolio. Steady focus on the expansion of its renewable capacity will enable the company to provide emission-free power to its customers. However, the company continues to face headwinds in the form of stringent government regulations and operational risks. Sempra Energy’s 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.”
Several other research firms have also issued reports on SRE. JPMorgan Chase reaffirmed a “neutral” rating and issued a $104.00 price target (down previously from $112.00) on shares of Sempra Energy in a research report on Tuesday, March 6th. Guggenheim reaffirmed a “buy” rating and issued a $122.00 price target on shares of Sempra Energy in a research report on Friday, February 23rd. Wells Fargo reaffirmed a “buy” rating and issued a $120.00 price target (down previously from $121.00) on shares of Sempra Energy in a research report on Wednesday, February 28th. TheStreet lowered Sempra Energy from a “b-” rating to a “c” rating in a research report on Tuesday, February 27th. Finally, Bank of America lowered Sempra Energy from a “buy” rating to a “hold” rating and set a $112.00 target price for the company. in a research report on Thursday, December 28th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sempra Energy presently has an average rating of “Buy” and an average price target of $120.09.
SRE opened at $111.13 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $28,476.31, a PE ratio of 20.50, a P/E/G ratio of 2.21 and a beta of 0.49. Sempra Energy has a 1 year low of $100.63 and a 1 year high of $122.97.
Sempra Energy (NYSE:SRE) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.82 billion. Sempra Energy had a return on equity of 8.86% and a net margin of 2.28%. Sempra Energy’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. sell-side analysts forecast that Sempra Energy will post 5.6 earnings per share for the current fiscal year.
In other Sempra Energy news, VP G Joyce Rowland sold 3,948 shares of the business’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $109.81, for a total value of $433,529.88. Following the completion of the transaction, the vice president now owns 2,655 shares of the company’s stock, valued at approximately $291,545.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Debra L. Reed sold 49,909 shares of the business’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $110.37, for a total value of $5,508,456.33. Following the completion of the transaction, the chairman now directly owns 177,227 shares of the company’s stock, valued at approximately $19,560,543.99. The disclosure for this sale can be found here. In the last three months, insiders acquired 235,000 shares of company stock valued at $23,000. 0.17% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Pin Oak Investment Advisors Inc. bought a new stake in shares of Sempra Energy during the 4th quarter valued at about $116,000. MHI Funds LLC bought a new stake in shares of Sempra Energy during the 4th quarter valued at about $130,000. Front Row Advisors LLC bought a new stake in shares of Sempra Energy during the 4th quarter valued at about $130,000. Calton & Associates Inc. bought a new stake in shares of Sempra Energy during the 4th quarter valued at about $139,000. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Sempra Energy during the 3rd quarter valued at about $153,000. 82.43% of the stock is owned by institutional investors and hedge funds.
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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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