Morgan Stanley Raises Sempra Energy (SRE) Price Target to $142.00

Sempra Energy (NYSE:SRE) had its price target upped by Morgan Stanley from $132.00 to $142.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

SRE has been the subject of a number of other research reports. Zacks Investment Research cut Sempra Energy from a hold rating to a sell rating in a research note on Monday, February 4th. ValuEngine raised Sempra Energy from a hold rating to a buy rating in a research report on Friday, May 10th. Wells Fargo & Co raised their price objective on Sempra Energy from $130.00 to $137.00 and gave the company an outperform rating in a research report on Thursday, March 28th. TheStreet raised Sempra Energy from a c+ rating to a b rating in a research report on Tuesday, February 26th. Finally, Argus raised their price objective on Sempra Energy to $142.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $131.57.

SRE opened at $134.35 on Thursday. The company has a market capitalization of $36.86 billion, a PE ratio of 24.12, a PEG ratio of 2.85 and a beta of 0.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.38 and a quick ratio of 0.36. Sempra Energy has a 52 week low of $100.49 and a 52 week high of $135.91.

Sempra Energy (NYSE:SRE) last released its earnings results on Tuesday, May 7th. The utilities provider reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.23. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Sempra Energy had a return on equity of 10.57% and a net margin of 9.89%. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. As a group, research analysts expect that Sempra Energy will post 6.02 earnings per share for the current fiscal year.

In related news, VP G Joyce Rowland sold 2,393 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $120.86, for a total transaction of $289,217.98. Following the completion of the transaction, the vice president now owns 12,461 shares of the company’s stock, valued at approximately $1,506,036.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph A. Householder sold 50,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $134.80, for a total value of $6,793,920.00. Following the transaction, the insider now directly owns 55,115 shares of the company’s stock, valued at approximately $7,429,502. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,516 shares of company stock valued at $7,825,683. 0.13% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Karp Capital Management Corp bought a new stake in shares of Sempra Energy in the 4th quarter worth $25,000. Global Retirement Partners LLC increased its holdings in shares of Sempra Energy by 361.5% in the 4th quarter. Global Retirement Partners LLC now owns 240 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 188 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Sempra Energy by 10,582.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,099,319 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 3,070,305 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Sempra Energy in the 4th quarter worth $30,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of Sempra Energy by 1,285.0% in the 4th quarter. Johnson Financial Group Inc. now owns 277 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 257 shares in the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

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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