JPMorgan Chase & Co. Issues Positive Forecast for Sempra Energy (NYSE:SRE) Stock Price

Sempra Energy (NYSE:SRE) had its price target increased by JPMorgan Chase & Co. from $98.00 to $106.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts have also commented on the company. Barclays set a $95.00 price objective on Sempra Energy and gave the company an “overweight” rating in a report on Tuesday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Sempra Energy from $112.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Citigroup reissued a “neutral” rating and issued a $99.00 target price (up from $80.00) on shares of Sempra Energy in a report on Monday, November 24th. Wall Street Zen downgraded Sempra Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.55.

Sempra Energy Trading Down 0.9%

Sempra Energy stock opened at $95.06 on Wednesday. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $97.44. The stock has a market capitalization of $62.10 billion, a P/E ratio of 34.44, a PEG ratio of 3.59 and a beta of 0.73. The stock has a 50-day simple moving average of $91.25 and a 200 day simple moving average of $89.91. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.57 and a current ratio of 1.59.

Sempra Energy (NYSE:SRE) last issued its earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the company posted $1.50 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, March 19th will be given a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, March 19th. This is a boost from Sempra Energy’s previous quarterly dividend of $0.65. Sempra Energy’s dividend payout ratio is presently 93.48%.

Insider Activity

In other news, CAO Dyan Z. Wold sold 1,539 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $95.38, for a total transaction of $146,789.82. Following the transaction, the chief accounting officer owned 4,633 shares of the company’s stock, valued at $441,895.54. This represents a 24.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia J. Warner purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $92.95 per share, for a total transaction of $232,375.00. Following the acquisition, the director owned 11,275 shares of the company’s stock, valued at approximately $1,048,011.25. This represents a 28.49% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 6,192 shares of company stock valued at $576,979. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. West Wealth Group LLC boosted its holdings in 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 acquiring an additional 112 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of Sempra Energy by 1.7% during 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 purchasing an additional 113 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in Sempra Energy by 1.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 8,587 shares of the utilities provider’s stock worth $773,000 after buying an additional 115 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in Sempra Energy by 2.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 5,191 shares of the utilities provider’s stock valued at $458,000 after acquiring an additional 116 shares during the period. Finally, Advisor OS LLC lifted its stake in shares of Sempra Energy by 1.2% during the 3rd quarter. Advisor OS LLC now owns 9,681 shares of the utilities provider’s stock valued at $871,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Energy Company Profile

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.