Sempra (NYSE:SRE) Price Target Raised to $89.00 at Barclays

Sempra (NYSE:SRE) had its target price lifted by research analysts at Barclays from $87.00 to $89.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 5.84% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Evercore ISI upped their price target on Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets boosted their target price on Sempra from $90.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Bank of America started coverage on Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.58.

Sempra Stock Performance

NYSE SRE traded up $0.46 on Tuesday, reaching $84.09. The stock had a trading volume of 418,514 shares, compared to its average volume of 2,876,375. The stock has a market cap of $52.99 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. Sempra has a 12-month low of $63.75 and a 12-month high of $84.47. The business’s 50-day moving average price is $81.10 and its 200 day moving average price is $76.47. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46.

Sempra (NYSE:SRE) last released its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. As a group, equities analysts expect that Sempra will post 4.79 earnings per share for the current year.

Hedge Funds Weigh In On Sempra

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRE. GSA Capital Partners LLP bought a new position in Sempra during the 1st quarter valued at $815,000. Magnetar Financial LLC bought a new position in Sempra during the 1st quarter valued at $2,293,000. Forsta AP Fonden boosted its stake in Sempra by 13.7% during the 1st quarter. Forsta AP Fonden now owns 117,200 shares of the utilities provider’s stock valued at $8,418,000 after purchasing an additional 14,100 shares in the last quarter. Perpetual Ltd lifted its position in shares of Sempra by 4.8% during the 1st quarter. Perpetual Ltd now owns 2,891,026 shares of the utilities provider’s stock valued at $207,662,000 after acquiring an additional 133,119 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Sempra by 249.9% during the 1st quarter. SG Americas Securities LLC now owns 155,854 shares of the utilities provider’s stock valued at $11,195,000 after acquiring an additional 111,314 shares during the last quarter. 89.65% of the stock is owned by institutional investors.

About Sempra

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.