Sempra Energy (SRE) Rating Increased to Outperform at Wells Fargo & Co

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Wells Fargo & Co upgraded shares of Sempra Energy (NYSE:SRE) from a market perform rating to an outperform rating in a research note published on Monday morning, Marketbeat Ratings reports. They currently have $128.00 target price on the utilities provider’s stock, up from their previous target price of $125.00.

“We are initiating coverage of Bloom Energy (BE) with a Perform rating. While we see the potential for Bloom to be a core solution provider in disrupting the power market and leading to the possibility for multi-decade growth, we see limited valuation support at current price levels and also see significant execution in front of the company.”,” the firm’s analyst commented.

Several other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of Sempra Energy from a hold rating to a sell rating in a research report on Friday, May 18th. JPMorgan Chase & Co. reduced their price target on shares of Sempra Energy from $112.00 to $105.00 and set a neutral rating on the stock in a research report on Monday, June 4th. Argus upgraded shares of Sempra Energy from a hold rating to a buy rating in a research report on Friday, June 1st. Scotiabank upgraded shares of Sempra Energy from a sector perform rating to an outperform rating in a research report on Thursday, April 26th. Finally, Bank of America reduced their price target on shares of Sempra Energy from $116.00 to $113.00 and set a neutral rating on the stock in a research report on Tuesday, May 8th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $123.11.

SRE stock opened at $116.95 on Monday. Sempra Energy has a 12-month low of $100.49 and a 12-month high of $122.97. The stock has a market capitalization of $31.29 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.65 and a beta of 0.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.58.

Sempra Energy (NYSE:SRE) last released its quarterly earnings data on Monday, August 6th. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.17. Sempra Energy had a negative net margin of 5.89% and a positive return on equity of 8.69%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities analysts predict that Sempra Energy will post 5.43 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. boosted its stake in Sempra Energy by 5,266.3% during the second quarter. Nomura Holdings Inc. now owns 3,138,899 shares of the utilities provider’s stock worth $364,458,000 after acquiring an additional 3,080,406 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Sempra Energy by 11,368.8% during the first quarter. Summit Trail Advisors LLC now owns 1,295,974 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 1,284,674 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Sempra Energy by 186.1% during the first quarter. Neuberger Berman Group LLC now owns 1,963,575 shares of the utilities provider’s stock worth $218,389,000 after acquiring an additional 1,277,193 shares in the last quarter. BlackRock Inc. boosted its stake in Sempra Energy by 2.5% during the first quarter. BlackRock Inc. now owns 21,157,486 shares of the utilities provider’s stock worth $2,353,137,000 after acquiring an additional 525,987 shares in the last quarter. Finally, Pendal Group Ltd boosted its stake in Sempra Energy by 51.4% during the first quarter. Pendal Group Ltd now owns 1,105,817 shares of the utilities provider’s stock worth $122,989,000 after acquiring an additional 375,415 shares in the last quarter. Institutional investors own 89.33% of the company’s stock.

About Sempra Energy

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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Analyst Recommendations for Sempra Energy (NYSE:SRE)

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