In a report released yesterday, Shahriar Pourreza from Wells Fargo maintained a Buy rating on Sempra Energy, with a price target of $118.00. The company’s shares closed yesterday at $83.34.
Pourreza covers the Utilities sector, focusing on stocks such as Public Service Enterprise, NRG Energy, and Vistra Corp. According to TipRanks, Pourreza has an average return of 5.9% and a 54.64% success rate on recommended stocks.
In addition to Wells Fargo, Sempra Energy also received a Buy from Truist Financial’s Richard Sunderland in a report issued on September 3. However, on August 31, Mizuho Securities downgraded Sempra Energy (NYSE: SRE) to a Hold.
Based on Sempra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $3 billion and a net profit of $797 million. In comparison, last year the company earned a revenue of $3 billion and had a net profit of $473 million
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRE in relation to earlier this year.
