Research analysts at Barclays began coverage on shares of Sempra (NYSE:SRE – Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The brokerage set an “overweight” rating on the utilities provider’s stock.
Other analysts have also issued research reports about the company. BMO Capital Markets reduced their target price on Sempra from $84.00 to $80.00 and set a “market perform” rating for the company in a report on Monday, August 7th. StockNews.com assumed coverage on Sempra in a report on Sunday. They issued a “hold” rating for the company. Guggenheim reduced their target price on Sempra from $87.00 to $86.00 in a report on Friday, July 7th. Wells Fargo & Company reduced their target price on Sempra from $87.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Finally, 888 restated a “maintains” rating on shares of Sempra in a report on Friday, June 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.43.
Read Our Latest Research Report on SRE
Sempra Price Performance
Sempra (NYSE:SRE – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.54 billion. Sempra had a return on equity of 10.04% and a net margin of 14.90%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts predict that Sempra will post 4.47 earnings per share for the current year.
Institutional Trading of Sempra
Several hedge funds and other institutional investors have recently modified their holdings of SRE. OLD Second National Bank of Aurora raised its holdings in Sempra by 576.9% during the fourth quarter. OLD Second National Bank of Aurora now owns 176 shares of the utilities provider’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in shares of Sempra by 567.9% during the 4th quarter. Dark Forest Capital Management LP now owns 187 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 159 shares during the last quarter. WealthPLAN Partners LLC bought a new position in shares of Sempra in the 1st quarter valued at approximately $29,000. EP Wealth Advisors LLC bought a new position in shares of Sempra in the 1st quarter valued at approximately $29,000. Finally, West Tower Group LLC acquired a new stake in Sempra in the 2nd quarter worth approximately $31,000. 84.45% of the stock is currently owned by hedge funds and other institutional investors.
About Sempra
Sempra operates as an energy infrastructure company in the United States and internationally. It operates through four segments: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure. The San Diego Gas & Electric Company segment provides to San Diego and southern Orange counties; and natural gas service to San Diego County.
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