Wells Fargo & Company Issues Pessimistic Forecast for Sempra (NYSE:SRE) Stock Price

Sempra (NYSE:SRE) had its price target cut by equities researchers at Wells Fargo & Company from $96.00 to $88.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 22.24% from the company’s current price.

Other analysts have also issued reports about the stock. Morgan Stanley raised shares of Sempra from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $85.00 to $98.00 in a report on Friday, December 13th. UBS Group downgraded shares of Sempra from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $95.00 to $78.00 in a research report on Wednesday. The Goldman Sachs Group cut shares of Sempra from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $99.00 to $76.00 in a research report on Wednesday. Barclays dropped their target price on Sempra from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Evercore ISI lifted their price target on Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.54.

Sempra Stock Performance

Shares of SRE stock opened at $71.99 on Wednesday. The firm has a 50 day moving average of $83.43 and a two-hundred day moving average of $84.75. The stock has a market capitalization of $45.60 billion, a PE ratio of 15.86, a P/E/G ratio of 2.19 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89. Sempra has a 52 week low of $64.89 and a 52 week high of $95.77.

Sempra (NYSE:SRE) last released its earnings results on Tuesday, February 25th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. Sempra had a return on equity of 8.06% and a net margin of 22.63%. The firm had revenue of $3.76 billion during the quarter, compared to analyst estimates of $4.73 billion. During the same period last year, the business posted $1.13 earnings per share. Sempra’s revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Sempra will post 4.76 EPS for the current fiscal year.

Insider Activity

In other Sempra news, SVP Alexander Lisa Larroque sold 2,755 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $81.93, for a total value of $225,717.15. Following the completion of the sale, the senior vice president now owns 13,905 shares of the company’s stock, valued at approximately $1,139,236.65. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey W. Martin sold 49,737 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $82.94, for a total transaction of $4,125,186.78. Following the transaction, the chief executive officer now directly owns 2 shares in the company, valued at approximately $165.88. This trade represents a 100.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Crews Bank & Trust acquired a new position in Sempra in the 4th quarter valued at about $26,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Sempra during the fourth quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of Sempra in the fourth quarter valued at approximately $29,000. Synergy Investment Management LLC purchased a new position in shares of Sempra during the fourth quarter valued at approximately $29,000. Finally, TCTC Holdings LLC boosted its position in Sempra by 265.2% during the fourth quarter. TCTC Holdings LLC now owns 336 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 244 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

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.