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SRE

Sempra Energy

$113.35

0.82 (0.73%)

14:56
06/21/18
06/21
14:56
06/21/18
14:56

Sempra Energy to defend strategy, push back against activists, Dealreporter says

Sempra Energy was caught off guard when Elliott Management and Bluescape Resources released a public letter to kick off their activist campaign and the utility owner has plans to come out "strongly in defense of its current strategy" and push back against the activists at its investor day next week, sources tell Dealreporter, according to contacts.

SRE Sempra Energy
$113.35

0.82 (0.73%)

05/21/18
ARGS
05/21/18
UPGRADE
Target $119
ARGS
Buy
Sempra Energy upgraded to Buy at Argus on 'strong growth prospects'
As reported earlier, Argus analyst Jacob Kilstein upgraded Sempra Energy to Buy from Hold with a $119 price target, citing anticipated earnings accretion from the recent purchase of a majority stake in Oncor, favorable regulations, and the growing base rate at its California utilities. The analyst also points to Sempra Energy's "above-peer-average sales, margins, and earnings" along with its prospects for continued strong growth, stating that this profile justified the premium 18.7-times FY18 EPS estimate valuation on the stock vs. 17.3-times for comparable utilities. Kilstein adds that his dividend discount model anticipates accelerated dividend payouts once the exports of LNG commence.
05/21/18
05/21/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Neutral from Sell at MoffettNathanson. 2. ProsHoldings (PROS) upgraded to Outperform from Market Perform at Northland with analyst Tim Klasell citing last week's annual user conference and analyst meetings. 3. Ctrip (CTRP) upgraded to Buy from Hold at TH Data Capital with analyst Tian Hou saying the company's business has "already stabilized and is on its way to recovery." 4. Sempra Energy (SRE) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein citing anticipated earnings accretion from the recent purchase of a majority stake in Oncor, favorable regulations, and the growing base rate at its California utilities. 5. Dillard's (DDS) upgraded to Buy from Underperform at BofA/Merrill with analyst Heather Balsky saying she expects improved consumer sentiment, especially in the energy market, to support positive comps and drive multiple expansion. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/12/18
WELS
06/12/18
DOWNGRADE
WELS
Market Perform
Sempra Energy downgraded to Market Perform from Outperform at Wells Fargo
06/12/18
06/12/18
DOWNGRADE
Target $123

Market Perform
Sempra Energy downgraded to Market Perform at Wells Fargo
As previously reported, Wells Fargo analyst Sarah Akers downgraded Sempra Energy to Market Perform from Outperform, citing balanced risk/reward following activist-driven pop. While the analyst sees opportunities to unlock value via effective capital allocation and new growth ventures, she would not argue for multiple expansion at this point given below average credit metrics and ongoing risks. Akers also raised her price target on the stock to $123 from $118.

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