Wells Fargo Sticks to Its Buy Rating for Sempra Energy (SRE)
Wells Fargo analyst Shahriar Pourreza maintained a Buy rating on Sempra Energy on May 29 and set a price target of $118.00. The company’s shares closed last Friday at $89.13.
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Pourreza covers the Utilities sector, focusing on stocks such as Sempra Energy, Eversource Energy, and Pinnacle West Capital. According to TipRanks, Pourreza has an average return of 8.1% and a 65.26% success rate on recommended stocks.
Sempra Energy has an analyst consensus of Strong Buy, with a price target consensus of $105.17, a 18.00% upside from current levels. In a report released on May 21, Morgan Stanley also maintained a Buy rating on the stock with a $99.00 price target.
Based on Sempra Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.66 billion and a net profit of $1.15 billion. In comparison, last year the company earned a revenue of $3.8 billion and had a net profit of $917 million
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SRE in relation to earlier this year. Last month, Pablo Ferrero, a Director at SRE sold 2,600.00 shares for a total of $232,778.00.
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