Sempra (NYSE:SRE) Price Target Raised to $96.00

by · The Cerbat Gem

Sempra (NYSE:SRE – Free Report) had its price target lifted by Wells Fargo & Company from $87.00 to $96.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the company. Morgan Stanley boosted their price objective on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays upped their price target on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Bank of America began coverage on shares of Sempra in a research report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Sempra in a research report on Thursday, October 24th. They issued a “buy” rating and a $98.00 target price for the company. Finally, Evercore ISI lifted their price target on Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Sempra has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Read Our Latest Stock Report on SRE

Sempra Stock Performance

Shares of SRE opened at $91.25 on Thursday. The stock has a market capitalization of $57.77 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.82 and a beta of 0.75. The business’s fifty day moving average price is $83.60 and its 200 day moving average price is $79.21. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.52 and a quick ratio of 0.41. Sempra has a 12-month low of $66.40 and a 12-month high of $91.88.

Sempra (NYSE:SRE – Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.17). The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $3.54 billion. Sempra had a net margin of 22.63% and a return on equity of 8.01%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Equities research analysts forecast that Sempra will post 4.77 EPS for the current year.

Sempra Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.72%. Sempra’s dividend payout ratio is presently 54.63%.

Institutional Investors Weigh In On Sempra

A number of institutional investors have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in shares of Sempra in the 3rd quarter worth $28,000. Family Firm Inc. bought a new stake in Sempra in the second quarter worth about $30,000. Hollencrest Capital Management lifted its holdings in Sempra by 250.0% in the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 270 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Sempra during the 2nd quarter valued at about $33,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Sempra in the 2nd quarter worth approximately $34,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Sempra Company Profile

(Get Free Report)

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.

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