Morgan Stanley’s Analyst Provides Guidance for This Canadian Energy Company

By Ryan Adsit

Morgan Stanley analyst Stephen Byrd maintained a Hold rating on Sempra Energy (SREResearch Report) today and set a price target of $152.00. The company’s shares closed last Monday at $145.08, close to its 52-week high of $148.14.

According to TipRanks.com, Byrd is a 1-star analyst with an average return of -0.7% and a 54.8% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Consolidated Edison, Inc., and American Electric Power.

Sempra Energy has an analyst consensus of Moderate Buy, with a price target consensus of $151.60.

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Based on Sempra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.21 billion and net profit of $390 million. In comparison, last year the company earned revenue of $2.93 billion and had a net profit of $310 million.

Based on the recent corporate insider activity of 56 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Sempra Energy is an energy-service holding company, whose operating units invests in, developing and operating energy infrastructure, and provides gas and electricity services to their customers in North and South America.