Sempra Energy (NYSE:SRE) Given "Neutral" Rating at Citigroup

Key Points

• Citigroup has raised its price target for Sempra Energy from $70.00 to $80.00, maintaining a "neutral" rating, indicating a potential downside of 3.70% from the current price.
• Currently, Sempra Energy also holds a consensus rating of "Moderate Buy" with an average price target of $81.58, backed by buy ratings from seven analysts.
• In the recent trading session, Sempra Energy's shares were up by $2.11, reaching a price of $83.08, reflecting active investor interest in the utilities sector.

Sempra Energy (NYSE:SRE - Get Free Report)'s stock had its "neutral" rating reiterated by research analysts at Citigroup in a research note issued to investors on Monday, Marketbeat.com reports. They presently have a $80.00 target price on the utilities provider's stock, up from their previous target price of $70.00. Citigroup's price objective indicates a potential downside of 2.92% from the stock's current price.

Several other analysts also recently commented on the stock. BMO Capital Markets upped their price target on shares of Sempra Energy from $78.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Jefferies Financial Group reduced their price target on shares of Sempra Energy from $77.00 to $75.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley reissued an "overweight" rating and issued a $88.00 price objective (up from $87.00) on shares of Sempra Energy in a research note on Wednesday, June 18th. Finally, Barclays dropped their price objective on shares of Sempra Energy from $72.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.58.

Sempra Energy Stock Down 0.7%

Shares of NYSE:SRE opened at $82.41 on Monday. The firm has a 50 day simple moving average of $76.85 and a 200-day simple moving average of $75.79. Sempra Energy has a twelve month low of $61.90 and a twelve month high of $95.77. The company has a market capitalization of $53.72 billion, a PE ratio of 18.11, a P/E/G ratio of 2.23 and a beta of 0.62. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

Sempra Energy (NYSE:SRE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.32 by $0.12. Sempra Energy had a net margin of 22.15% and a return on equity of 8.55%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Sempra Energy's revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts predict that Sempra Energy will post 4.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Alexander Lisa Larroque sold 1,576 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $80.00, for a total transaction of $126,080.00. Following the transaction, the senior vice president directly owned 15,600 shares of the company's stock, valued at $1,248,000. This represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Diana L. Day sold 8,015 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $74.26, for a total transaction of $595,193.90. Following the completion of the sale, the insider owned 16,969 shares in the company, valued at $1,260,117.94. This represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Sempra Energy

Several institutional investors and hedge funds have recently made changes to their positions in SRE. Westside Investment Management Inc. boosted its position in shares of Sempra Energy by 51.2% in the 2nd quarter. Westside Investment Management Inc. now owns 375 shares of the utilities provider's stock worth $29,000 after buying an additional 127 shares in the last quarter. Mattson Financial Services LLC purchased a new stake in shares of Sempra Energy in the 4th quarter worth about $30,000. Pingora Partners LLC boosted its position in shares of Sempra Energy by 48.3% in the 1st quarter. Pingora Partners LLC now owns 430 shares of the utilities provider's stock worth $31,000 after buying an additional 140 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of Sempra Energy by 245.1% in the 2nd quarter. NewSquare Capital LLC now owns 421 shares of the utilities provider's stock worth $32,000 after buying an additional 299 shares in the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in Sempra Energy by 230.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 430 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

About Sempra Energy

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.