Barclays Cuts Sempra Energy (NYSE:SRE) Price Target to $98.00

Sempra Energy (NYSE:SRE) had its price target decreased by equities researchers at Barclays from $101.00 to $98.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 5.24% from the company’s previous close.

Several other research analysts have also issued reports on the company. Wells Fargo & Company started coverage on Sempra Energy in a research report on Monday, October 27th. They set an “overweight” rating and a $115.00 target price on the stock. Citigroup reaffirmed a “neutral” rating and issued a $80.00 price objective (up from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, October 8th. BMO Capital Markets raised their price target on shares of Sempra Energy from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $99.00 target price on shares of Sempra Energy in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.75.

Sempra Energy Stock Up 0.8%

Shares of NYSE SRE traded up $0.73 during midday trading on Thursday, reaching $93.12. 362,406 shares of the company’s stock traded hands, compared to its average volume of 4,334,327. The company has a market cap of $60.76 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.84 and a beta of 0.68. The stock’s 50 day simple moving average is $87.99 and its 200-day simple moving average is $81.08. The company has a quick ratio of 0.41, a current ratio of 0.48 and a debt-to-equity ratio of 0.93. Sempra Energy has a one year low of $61.90 and a one year high of $95.77.

Sempra Energy (NYSE:SRE) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.27. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. On average, analysts predict that Sempra Energy will post 4.76 EPS for the current fiscal year.

Insider Activity

In other news, Director Kevin C. Sagara sold 28,864 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $84.21, for a total value of $2,430,637.44. Following the completion of the sale, the director directly owned 15,475 shares in the company, valued at $1,303,149.75. The trade was a 65.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Caroline Ann Winn sold 5,114 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $82.01, for a total value of $419,399.14. Following the transaction, the executive vice president directly owned 39,380 shares of the company’s stock, valued at approximately $3,229,553.80. The trade was a 11.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,411 shares of company stock valued at $4,141,790. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sempra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. West Wealth Group LLC raised its position in shares of Sempra Energy by 1.1% during the 3rd quarter. West Wealth Group LLC now owns 10,207 shares of the utilities provider’s stock worth $942,000 after purchasing an additional 112 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Sempra Energy by 1.7% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 6,911 shares of the utilities provider’s stock worth $622,000 after buying an additional 113 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Sempra Energy by 24.4% during the second quarter. Manchester Capital Management LLC now owns 642 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 126 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Sempra Energy by 51.2% in the second quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Finally, Mendel Money Management boosted its stake in Sempra Energy by 1.6% during the 2nd quarter. Mendel Money Management now owns 8,476 shares of the utilities provider’s stock worth $642,000 after purchasing an additional 130 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

About Sempra Energy

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.