Bank of America Downgrades Sempra Energy (NYSE:SRE) to Hold

Sempra Energy (NYSE:SRE) was downgraded by research analysts at Bank of America from a “buy” rating to a “hold” rating in a research note issued on Thursday, December 28th. They currently have a $112.00 price objective on the utilities provider’s stock. Bank of America’s price objective indicates a potential upside of 4.78% from the company’s current price.

Other analysts have also recently issued reports about the company. Goldman Sachs Group raised Sempra Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $117.00 to $129.00 in a research report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Sempra Energy in a research report on Tuesday, November 7th. JPMorgan Chase & Co. raised their price objective on Sempra Energy from $123.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Finally, Wells Fargo & Co lowered their target price on Sempra Energy from $130.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Sempra Energy has a consensus rating of “Buy” and an average target price of $122.33.

Sempra Energy (SRE) opened at $106.89 on Thursday. Sempra Energy has a 52-week low of $99.71 and a 52-week high of $122.97. The company has a current ratio of 0.40, a quick ratio of 0.36 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $26,840.00, a P/E ratio of 23.70, a P/E/G ratio of 2.19 and a beta of 0.62.

Sempra Energy (NYSE:SRE) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.04 EPS for the quarter, meeting the consensus estimate of $1.04. Sempra Energy had a return on equity of 8.81% and a net margin of 10.22%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. equities analysts predict that Sempra Energy will post 5.25 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. increased its stake in Sempra Energy by 27.9% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 927 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 202 shares during the period. WESPAC Advisors SoCal LLC increased its stake in shares of Sempra Energy by 0.7% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 1,286 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 9 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in shares of Sempra Energy in the 3rd quarter valued at $153,000. Rocky Mountain Advisers LLC bought a new position in shares of Sempra Energy in the 3rd quarter valued at $183,000. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of Sempra Energy in the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 80.47% of the company’s stock.

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About Sempra Energy

Sempra Energy is a holding company. The Company’s principal operating units are Sempra Utilities, which includes its San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas) and Sempra South American Utilities segments, and Sempra Infrastructure, which includes its Sempra Mexico, Sempra Renewables and Sempra LNG & Midstream segments.

Analyst Recommendations for Sempra Energy (NYSE:SRE)

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