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SRE

Sempra Energy

$110.27

-0.72 (-0.65%)

, CVX

Chevron

$119.23

-0.02 (-0.02%)

18:52
04/12/18
04/12
18:52
04/12/18
18:52

Sempra Energy unit to develop liquid fuels marine terminal in Baja California

Sempra Energy (SRE) announced that its Mexican subsidiary, Infraestructura Energetica Nova, plans to develop, build and operate a receipt, storage and send-out liquid fuels marine terminal at the La Jovita Energy Hub in Ensenada, Mexico. With an expected investment of approximately $130M, the new Baja Refinados liquid fuels terminal will have an initial storage capacity of 1M barrels of gasoline and diesel that will increase the fuel supply capacity and reliability in Baja California. The Marine terminal is expected to commence operations in the second half of 2020. IEnova also announced it has signed a long-term contract with Chevron (CVX) Combustibles de Mexico S. de R.L. de C.V for approximately 50% of the facility's storage and send-out capacity to supply Chevron service stations and other commercial and industrial consumers in Baja California. Chevron will have the option to acquire 20% equity ownership of the facility after commercial operations begin. IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations.

SRE

Sempra Energy

$110.27

-0.72 (-0.65%)

CVX

Chevron

$119.23

-0.02 (-0.02%)

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SRE Sempra Energy
$110.27

-0.72 (-0.65%)

02/02/18
UBSW
02/02/18
INITIATION
Target $124
UBSW
Buy
Sempra Energy initiated with a Buy at UBS
UBS analyst Daniel Ford started Sempra Energy with a Buy rating and $124 price target.
01/03/18
WELS
01/03/18
NO CHANGE
Target $121
WELS
Outperform
Sempra Energy price target lowered to $121 from $130 at Wells Fargo
Wells Fargo analyst Sarah Akers lowered her price target for Sempra Energy to $121 from $130 to primarily reflect lower utility multiples. The analyst reiterates an Outperform rating on the shares.
12/22/17
BOFA
12/22/17
DOWNGRADE
Target $112
BOFA
Neutral
Sempra Energy downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith downgraded Sempra Energy to Neutral and cut its price target to $112 from $125 due to ongoing wildfire risk, which will be an overhang for the company. The analyst added the recent selloff in shares also puts pressure on the upcoming $6B equity raise and accretion metrics for Oncor.
10/11/17
GSCO
10/11/17
UPGRADE
Target $129
GSCO
Buy
Sempra Energy upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Sempra Energy to Buy and raised his price target for the shares to $129 from $117. Utility and infrastructure project developments in the U.S. and Mexico create an "active catalyst path" over the next six-to-nine months, Lapides tells investors in a research note. Further, the analyst believes the proposed acquisition of Energy Future Holdings could drive higher growth.
CVX Chevron
$119.23

-0.02 (-0.02%)

04/12/18
WELS
04/12/18
NO CHANGE
Target $153
WELS
Outperform
Chevron price target raised to $153 from $138 at Wells Fargo
Wells Fargo raised its price target for Chevron to $153 from $138 on valuation as it believes 2018 is a year that will reward the more aggressively positioned energy investor. The firm reiterated an Outperform rating on the shares.
03/20/18
JPMS
03/20/18
NO CHANGE
Target $135
JPMS
Overweight
Chevron pullback brings favorable entry point, says JPMorgan
JPMorgan analyst Phil Gresh says the pullback in Chevron shares to below $115 brings a favorable entry point. The analyst sees a "balanced long-term story" around production growth, free cash flow generation, and return of capital through at least 2022 with "fairly low execution risk." The analyst believes the "penalty box" following the "messy" Q4 will be temporary. He raised his price target for Chevron to $135 from $130 and keeps an Overweight rating on the shares.
02/28/18
02/28/18
UPGRADE
Target $138

Buy
Chevron upgraded to Buy on valuation at BofA/Merrill
As previously reported, BofA/Merrill upgraded Chevron to Buy from Neutral and maintained a $138 price target. Analyst Doug Leggate views valuation as attractive following the recent pullback in shares combined with his views of an improving commodity backdrop.
02/28/18
BOFA
02/28/18
UPGRADE
BOFA
Buy
Chevron upgraded to Buy from Neutral at BofA/Merrill

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