Sempra Energy (NYSE:SRE) Given New $115.00 Price Target at Wells Fargo & Company

Sempra Energy (NYSE:SRE) had its price objective boosted by equities researchers at Wells Fargo & Company from $113.00 to $115.00 in a report released on Monday,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 23.44% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, January 21st. UBS Group reaffirmed a “neutral” rating and issued a $100.00 price objective (up from $96.00) on shares of Sempra Energy in a research note on Friday, March 6th. Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays set a $95.00 target price on Sempra Energy and gave the company an “overweight” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $101.00 target price on shares of Sempra Energy in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Sempra Energy has an average rating of “Moderate Buy” and an average target price of $100.73.

Sempra Energy Stock Performance

NYSE:SRE opened at $93.17 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.57 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $91.45 and a 200-day moving average of $90.12. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $97.44. The firm has a market cap of $60.86 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 3.43 and a beta of 0.73.

Sempra Energy (NYSE:SRE) last issued its earnings results on Thursday, February 26th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the firm posted $1.50 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Analysts forecast that Sempra Energy will post 4.76 earnings per share for the current fiscal year.

Insider Transactions at Sempra Energy

In related news, CFO Karen L. Sedgwick sold 4,872 shares of Sempra Energy stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $92.58, for a total value of $451,049.76. Following the completion of the transaction, the chief financial officer directly owned 39,029 shares of the company’s stock, valued at $3,613,304.82. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jennifer M. Kirk bought 1,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $93.44 per share, for a total transaction of $93,440.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at approximately $93,440. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 6,192 shares of company stock valued at $576,979 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Sempra Energy

Several large investors have recently modified their holdings of SRE. Meeder Asset Management Inc. acquired a new stake in shares of Sempra Energy in the third quarter valued at about $25,000. Ares Financial Consulting LLC bought a new position in shares of Sempra Energy during the 4th quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Sempra Energy by 57.7% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock worth $31,000 after buying an additional 127 shares during the last quarter. Key Financial Inc grew its holdings in shares of Sempra Energy by 73.6% during the 4th quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Sempra Energy by 83.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider’s stock worth $32,000 after buying an additional 161 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

About Sempra Energy

Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.

The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.