Bank of America Merrill Lynch Analysts Initiate Coverage on Sempra Energy (SRE)
Friday, August 26, 2021 1:35 PM



Equities research analysts at Bank of America Merrill Lynch initiated coverage on shares of Sempra Energy (NYSE: SRE) in a research note to investors on Friday. The analysts set a "neutral" rating on the stock.

Separately, analysts at Goldman Sachs (NYSE: GS) cut their EPS estimates on shares of Sempra Energy in a research note on Tuesday. They now have a "neutral" rating and a $54.00 price target on the stock. Also, analysts at RBC Capital (NYSE: RY) initiated coverage on shares of Sempra Energy in a research note to investors on Friday, June 24th. They set a "sector perform" rating and a $55.00 price target on the stock.

Shares of Sempra Energy traded up 1.05% during mid-day trading on Monday, hitting $51.07. Sempra Energy has a 52 week low of $44.78 and a 52 week high of $55.97. The stock's 50-day moving average is $50.41 and its 200-day moving average is $52.67. The company has a market cap of $12.227 billion and a price-to-earnings ratio of 10.42.

Sempra Energy last announced its quarterly results on Tuesday, August 9th. The company reported $0.97 earnings per share (EPS) for the previous quarter, meeting the Thomson Reuters consensus estimate of $0.97 EPS. The company’s quarterly revenue was up 20.6% on a year-over-year basis. On average, analysts predict that Sempra Energy will post $1.01 EPS next quarter.

Sempra Energy is an energy services holding company. Sempra Energy has five segments: San Diego Gas & Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Commodities, Sempra Generation and Sempra Pipelines & Storage. SoCalGas and SDG&E sell, distribute, and transport natural gas. SoCalGas purchases and stores natural gas for itself and SDG&E on a combined portfolio basis and provides natural gas storage services for others. SoCalGas provides natural gas storage services for core, non-core and non-end-use customers. Core customers are residential and commercial and industrial customers. Non-core customers at SoCalGas consist primarily of electric generation, wholesale, large commercial, industrial, and oil recovery customers. In July 2010, Sempra Energy and Royal Bank of Scotland Group plc completed the sale of select operations of their RBS Sempra Commodities joint venture to J.P. Morgan, the investment banking arm of JPMorgan Chase & Co.

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