Sempra (NYSE:SRE) Price Target Raised to $89.00 at Barclays

Sempra (NYSE:SRE) had its price objective lifted by analysts at Barclays from $87.00 to $89.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective points to a potential upside of 5.84% from the company’s previous close.

Several other brokerages have also issued reports on SRE. Evercore ISI boosted their price objective on shares of Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America initiated coverage on shares of Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Sempra from $90.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Finally, Morgan Stanley raised their price target on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

Sempra Trading Up 0.6 %

Shares of SRE traded up $0.46 during mid-day trading on Tuesday, reaching $84.09. The stock had a trading volume of 418,514 shares, compared to its average volume of 2,876,375. Sempra has a 52-week low of $63.75 and a 52-week high of $84.47. The firm has a market cap of $52.99 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.64 and a beta of 0.75. The business’s fifty day moving average is $81.10 and its 200 day moving average is $76.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.46 and a quick ratio of 0.41.

Sempra (NYSE:SRE) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Sempra had a return on equity of 8.58% and a net margin of 22.31%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. On average, sell-side analysts predict that Sempra will post 4.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRE. Wellington Management Group LLP increased its holdings in shares of Sempra by 12.1% in the 4th quarter. Wellington Management Group LLP now owns 27,123,899 shares of the utilities provider’s stock valued at $2,026,969,000 after acquiring an additional 2,917,668 shares during the last quarter. Nordea Investment Management AB increased its stake in Sempra by 5,279.4% in the first quarter. Nordea Investment Management AB now owns 1,583,816 shares of the utilities provider’s stock valued at $113,591,000 after purchasing an additional 1,554,374 shares during the last quarter. M&G Plc acquired a new stake in Sempra during the first quarter worth approximately $64,994,000. Clearbridge Investments LLC raised its holdings in Sempra by 6.9% during the second quarter. Clearbridge Investments LLC now owns 13,452,912 shares of the utilities provider’s stock worth $1,023,228,000 after purchasing an additional 874,133 shares in the last quarter. Finally, Zimmer Partners LP lifted its position in shares of Sempra by 96.9% during the 1st quarter. Zimmer Partners LP now owns 1,636,202 shares of the utilities provider’s stock worth $117,528,000 after buying an additional 805,084 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

About Sempra

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.