Sempra Energy (NYSE:SRE) Sets New 52-Week High - Should You Buy?

Key Points

• Shares of Sempra Energy hit a new 52-week high of $97.50 (last traded $97.20) on Monday, with roughly 265,266 shares changing hands.
• Analysts hold a consensus rating of Moderate Buy with an average price target of $100.73, and several firms recently raised targets (e.g., Wells Fargo to $115, JPMorgan to $106, UBS to $100).
• Sempra raised its quarterly dividend to $0.6575 (annualized $2.63, yield 2.7%), though the dividend payout ratio is elevated at 95.29%.

Shares of Sempra Energy (NYSE:SRE - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $97.50 and last traded at $97.2010, with a volume of 265266 shares trading hands. The stock had previously closed at $95.88.

Analyst Ratings Changes

Several research analysts recently weighed in on SRE shares. UBS Group reaffirmed a "neutral" rating and issued a $100.00 target price (up from $96.00) on shares of Sempra Energy in a report on Friday, March 6th. Wells Fargo & Company raised their price target on Sempra Energy from $113.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, March 23rd. JPMorgan Chase & Co. boosted their price objective on Sempra Energy from $98.00 to $106.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Morgan Stanley reaffirmed an "overweight" rating and issued a $101.00 price objective on shares of Sempra Energy in a research note on Friday, February 20th. Finally, Barclays set a $95.00 target price on Sempra Energy and gave the stock an "overweight" rating in a research report on Tuesday, February 3rd. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.73.

Sempra Energy Trading Up 1.2%

The stock has a market cap of $63.39 billion, a P/E ratio of 35.16, a price-to-earnings-growth ratio of 3.63 and a beta of 0.73. The stock's 50-day moving average is $91.85 and its two-hundred day moving average is $90.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.59 and a quick ratio of 1.57.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The business had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $3.82 billion. Sempra Energy had a net margin of 13.27% and a return on equity of 8.22%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 EPS. Equities research analysts anticipate that Sempra Energy will post 4.76 EPS for the current year.

Sempra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Thursday, March 19th will be paid a dividend of $0.6575 per share. The ex-dividend date of this dividend is Thursday, March 19th. 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 yield of 2.7%. Sempra Energy's dividend payout ratio is currently 95.29%.

Insiders Place Their Bets

In other news, Director Jennifer M. Kirk acquired 1,000 shares of the firm's stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $93.44 per share, with a total value of $93,440.00. Following the acquisition, the director directly owned 1,000 shares of the company's stock, valued at approximately $93,440. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Dyan Z. Wold sold 1,539 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $95.38, for a total value of $146,789.82. Following the transaction, the chief accounting officer owned 4,633 shares of the company's stock, valued at $441,895.54. This represents a 24.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 6,192 shares of company stock worth $576,979. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Sempra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of Sempra Energy by 52.5% in the 1st quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider's stock valued at $1,285,000 after acquiring an additional 6,196 shares during the last quarter. Woodline Partners LP increased its stake in Sempra Energy by 40.7% during the first quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider's stock worth $3,819,000 after acquiring an additional 15,474 shares during the last quarter. American Century Companies Inc. raised its position in Sempra Energy by 2.8% during the second quarter. American Century Companies Inc. now owns 143,208 shares of the utilities provider's stock valued at $10,851,000 after purchasing an additional 3,866 shares during the period. Global Retirement Partners LLC purchased a new stake in Sempra Energy during the second quarter valued at approximately $343,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Sempra Energy by 16.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 17,238 shares of the utilities provider's stock valued at $1,306,000 after purchasing an additional 2,397 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other 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.

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