Sempra Energy (NYSE:SRE) Given New $124.00 Price Target at Barclays

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Sempra Energy (NYSE:SRE) had its price target lowered by stock analysts at Barclays from $152.00 to $124.00 in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential upside of 0.62% from the stock’s current price.

SRE has been the subject of several other reports. Morgan Stanley dropped their price target on Sempra Energy from $171.00 to $154.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Vertical Research began coverage on Sempra Energy in a research note on Monday, February 24th. They issued a “hold” rating and a $167.00 target price for the company. KeyCorp increased their target price on Sempra Energy from $157.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Citigroup lowered their target price on Sempra Energy from $167.00 to $152.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Finally, BMO Capital Markets lowered their target price on Sempra Energy from $164.00 to $112.00 and set a “market perform” rating for the company in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $148.40.

NYSE SRE traded up $9.21 during trading hours on Thursday, hitting $123.23. 230,217 shares of the company’s stock were exchanged, compared to its average volume of 3,413,045. The business’s 50 day moving average is $137.81 and its 200-day moving average is $145.44. Sempra Energy has a 12-month low of $88.00 and a 12-month high of $161.87. The firm has a market capitalization of $30.42 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.33 and a current ratio of 0.36.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.07. The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $3.80 billion. Sempra Energy had a return on equity of 9.65% and a net margin of 19.97%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 earnings per share. As a group, equities research analysts anticipate that Sempra Energy will post 7.13 EPS for the current fiscal year.

In other Sempra Energy news, CAO Peter R. Wall sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $156.84, for a total transaction of $246,081.96. Following the transaction, the chief accounting officer now owns 2,242 shares of the company’s stock, valued at approximately $351,635.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey W. Martin sold 8,251 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $155.66, for a total value of $1,284,350.66. Following the transaction, the chief executive officer now directly owns 31,779 shares in the company, valued at approximately $4,946,719.14. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SRE. Duncker Streett & Co. Inc. bought a new position in Sempra Energy during the 4th quarter worth approximately $27,000. Savior LLC bought a new stake in shares of Sempra Energy in the 4th quarter worth approximately $30,000. Cedar Mountain Advisors LLC bought a new stake in shares of Sempra Energy in the 4th quarter worth approximately $30,000. Atlas Private Wealth Management bought a new stake in shares of Sempra Energy in the 4th quarter worth approximately $30,000. Finally, Hall Laurie J Trustee bought a new stake in shares of Sempra Energy in the 4th quarter worth approximately $39,000. 85.75% of the stock is currently owned by institutional investors.

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 generates, transmits, and distributes electricity; and supplies natural gas.

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Analyst Recommendations for Sempra Energy (NYSE:SRE)

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