Sempra Energy (NYSE:SRE) Upgraded to Strong-Buy at BTIG Research

Key Points

• Sempra Energy has been upgraded to a "strong-buy" rating by BTIG Research, enhancing its investment appeal amidst strong performance indicators.
• The company's stock is currently priced at $92.08, with analysts suggesting a consensus target price of $91.50, reflecting a moderately optimistic outlook.
• Insiders have made significant stock sales recently, indicating potential shifts in confidence, with key executives decreasing their ownership in the company.

Sempra Energy (NYSE:SRE - Get Free Report) was upgraded by equities research analysts at BTIG Research to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also recently commented on SRE. Morgan Stanley reiterated an "overweight" rating and set a $99.00 target price on shares of Sempra Energy in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sempra Energy in a report on Wednesday, October 8th. Mizuho increased their price objective on shares of Sempra Energy from $86.00 to $93.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Citigroup reissued a "neutral" rating and issued a $80.00 target price (up previously from $70.00) on shares of Sempra Energy in a research report on Monday, August 4th. Finally, Jefferies Financial Group set a $89.00 target price on shares of Sempra Energy and gave the company a "hold" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $91.50.

Sempra Energy Stock Down 0.2%

Shares of Sempra Energy stock opened at $92.08 on Wednesday. Sempra Energy has a 1-year low of $61.90 and a 1-year high of $95.77. The company has a market capitalization of $60.08 billion, a PE ratio of 22.24, a P/E/G ratio of 2.84 and a beta of 0.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41. The business has a 50-day moving average of $85.88 and a 200-day moving average of $79.21.

Sempra Energy (NYSE:SRE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company's revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Sempra Energy will post 4.76 EPS for the current fiscal year.

Insider Transactions at Sempra Energy

In related news, EVP Caroline Ann Winn sold 5,114 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $82.01, for a total transaction of $419,399.14. Following the sale, the executive vice president owned 39,380 shares in the company, valued at $3,229,553.80. This represents a 11.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kevin C. Sagara sold 14,433 shares of Sempra Energy stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $89.50, for a total value of $1,291,753.50. Following the completion of the transaction, the director owned 1,042 shares of the company's stock, valued at approximately $93,259. The trade was a 93.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,411 shares of company stock valued at $4,141,790. Insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SRE. Manchester Capital Management LLC raised its position in shares of Sempra Energy by 24.4% during the second quarter. Manchester Capital Management LLC now owns 642 shares of the utilities provider's stock worth $49,000 after purchasing an additional 126 shares during the period. 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 valued at $29,000 after purchasing an additional 127 shares during the period. Mendel Money Management boosted its position in shares of Sempra Energy by 1.6% in the 2nd quarter. Mendel Money Management now owns 8,476 shares of the utilities provider's stock valued at $642,000 after purchasing an additional 130 shares during the period. Tritonpoint Wealth LLC increased its stake in Sempra Energy by 2.2% in the 2nd quarter. Tritonpoint Wealth LLC now owns 5,999 shares of the utilities provider's stock worth $458,000 after purchasing an additional 132 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Sempra Energy by 1.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,169 shares of the utilities provider's stock worth $583,000 after buying an additional 133 shares during the period. 89.65% of the stock is currently owned by 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.

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