Sempra Energy (NYSE:SRE) Sets New 52-Week High – Here’s Why

Sempra Energy (NYSE:SRE)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $99.70 and last traded at $96.9090, with a volume of 6108 shares. The stock had previously closed at $98.46.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SRE shares. Morgan Stanley reaffirmed an “overweight” rating and set a $101.00 price objective on shares of Sempra Energy in a research note on Friday, February 20th. Wall Street Zen cut Sempra Energy from a “hold” rating to a “sell” rating in a research note on Sunday, March 29th. UBS Group reaffirmed a “neutral” rating and set a $100.00 price objective (up from $96.00) on shares of Sempra Energy in a research note on Friday, March 6th. Argus raised Sempra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, March 4th. Finally, Barclays set a $95.00 price objective on Sempra Energy and gave the stock an “overweight” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.73.

Sempra Energy Trading Down 1.0%

The company has a debt-to-equity ratio of 0.75, a current ratio of 1.59 and a quick ratio of 1.57. The stock has a market capitalization of $63.69 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 3.76 and a beta of 0.67. The business has a 50 day simple moving average of $93.32 and a 200-day simple moving average of $91.34.

Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Thursday, February 26th. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Sempra Energy had a return on equity of 8.22% and a net margin of 13.27%.Sempra Energy’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. As a group, equities analysts expect that Sempra Energy will post 4.76 earnings per share for the current year.

Sempra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Thursday, March 19th will be given a $0.6575 dividend. This is a boost from Sempra Energy’s previous quarterly dividend of $0.65. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, March 19th. Sempra Energy’s payout ratio is presently 95.29%.

Insider Buying and Selling at Sempra Energy

In related news, CFO Karen L. Sedgwick sold 4,872 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were 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 owned 39,029 shares of the company’s stock, valued at approximately $3,613,304.82. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dyan Z. Wold sold 1,539 shares of Sempra Energy stock in a transaction on Monday, March 16th. The shares were sold at an average price of $95.38, for a total transaction of $146,789.82. Following the completion of the sale, the chief accounting officer owned 4,633 shares in the company, valued at $441,895.54. The trade was a 24.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 6,192 shares of company stock valued at $576,979 and have sold 7,539 shares valued at $706,906. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Sempra Energy

Several institutional investors and hedge funds have recently bought and sold shares of SRE. Meeder Asset Management Inc. bought a new stake in shares of Sempra Energy during the 3rd quarter worth approximately $25,000. Ares Financial Consulting LLC bought a new stake in shares of Sempra Energy during the 4th quarter worth approximately $26,000. Clal Insurance Enterprises Holdings Ltd raised 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 purchasing an additional 127 shares in the last quarter. Key Financial Inc raised its stake 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 raised its stake 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 purchasing an additional 161 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

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.