Shares of Sempra Energy (NYSE:SRE) have been assigned a consensus recommendation of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $120.11.
Several equities research analysts have commented on SRE shares. Zacks Investment Research lowered shares of Sempra Energy from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Bank of America lowered shares of Sempra Energy from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research note on Friday, December 22nd. Wells Fargo reiterated a “buy” rating and issued a $121.00 price objective (down previously from $130.00) on shares of Sempra Energy in a research note on Wednesday, January 3rd. UBS started coverage on shares of Sempra Energy in a research note on Friday, February 2nd. They issued a “buy” rating and a $124.00 price objective for the company. Finally, JPMorgan Chase reiterated a “neutral” rating and issued a $104.00 price objective (down previously from $112.00) on shares of Sempra Energy in a research note on Tuesday, March 6th.
Shares of SRE traded up $0.37 on Friday, reaching $110.74. The company’s stock had a trading volume of 409,308 shares, compared to its average volume of 2,371,595. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.50 and a quick ratio of 0.46. Sempra Energy has a twelve month low of $100.63 and a twelve month high of $122.97. The firm has a market capitalization of $28,494.18, a PE ratio of 20.36, a P/E/G ratio of 2.29 and a beta of 0.49.
The business also recently announced a quarterly dividend, which was paid on Sunday, April 15th. Stockholders of record on Friday, March 23rd were given a dividend of $0.895 per share. This is an increase from Sempra Energy’s previous quarterly dividend of $0.82. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, March 22nd. Sempra Energy’s dividend payout ratio is currently 66.05%.
In other news, Chairman Debra L. Reed sold 49,909 shares of the stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $110.37, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP G Joyce Rowland sold 3,948 shares of the stock in a transaction that occurred on Thursday, April 5th. The shares were sold at an average price of $109.81, for a total transaction of $433,529.88. Following the transaction, the vice president now directly owns 2,655 shares of the company’s stock, valued at $291,545.55. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Parnassus Investments CA boosted its holdings in Sempra Energy by 22.1% in the 4th quarter. Parnassus Investments CA now owns 4,398,413 shares of the utilities provider’s stock worth $470,278,000 after buying an additional 796,352 shares during the period. BlackRock Inc. boosted its holdings in Sempra Energy by 2.4% in the 4th quarter. BlackRock Inc. now owns 20,631,499 shares of the utilities provider’s stock worth $2,205,919,000 after buying an additional 475,879 shares during the period. Bank of New York Mellon Corp boosted its holdings in Sempra Energy by 8.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,559,513 shares of the utilities provider’s stock worth $273,662,000 after buying an additional 199,223 shares during the period. Magellan Asset Management Ltd boosted its holdings in Sempra Energy by 11.4% in the 4th quarter. Magellan Asset Management Ltd now owns 1,598,444 shares of the utilities provider’s stock worth $170,906,000 after buying an additional 163,168 shares during the period. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Sempra Energy in the 4th quarter worth approximately $13,680,000. 82.43% of the stock is owned by hedge funds and other institutional investors.
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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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