Thursday, May 19, 2005 12:55:30 AM
"SRE replaces ATG as our Top Pick, given the ebbing headwind of its mandatory convertible securities, which convert today (5/17/05). While our fundamental view of SRE remains unchanged, we would view any weakness from today's conversion as an ample buying opportunity for investors to build/add to a position in SRE.
"Recall our Buy rating is predicated on SRE's favorable growth opportunities and that it trades at an increasingly unwarranted discount to its peers. We also highlight the company's rapidly subsiding regulatory risks, including the positive conclusion of Phase I of its rate case and the CPUC's favorable ruling in the border price investigation.
"Our target price of $46 assumes a 14x multiple on our FY06 EPS estimate of $3.30, implying a potential return to target of ~24%, including SRE's below average 2.9% dividend yield."
Recent SRE News
- SoCalGas Earns ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency for the Second Consecutive Year • PR Newswire (US) • 04/30/2024 11:45:00 AM
- Sempra Named a Best Employer for Diversity by Forbes • PR Newswire (US) • 04/25/2024 08:20:00 PM
- ONCOR TO RELEASE FIRST QUARTER 2024 RESULTS MAY 7 • PR Newswire (US) • 04/19/2024 01:00:00 PM
- Sempra to Report First-Quarter 2024 Earnings May 7 • PR Newswire (US) • 04/19/2024 11:55:00 AM
- SoCalGas Hosts U.S. Department of Energy's Second Annual Minority Business Summit, Emphasizing the Importance of Diverse Spending • PR Newswire (US) • 04/18/2024 10:50:00 AM
- FIRST CLASS 8 HEAVY-DUTY ELECTRIC FREIGHT TRUCK MAKES HISTORIC CROSSING OF U.S.-MEXICO BORDER • PR Newswire (US) • 04/11/2024 10:11:00 PM
- SDG&E RECOGNIZED FOR PUBLIC SAFETY PARTNER PORTAL • PR Newswire (US) • 04/10/2024 08:15:00 PM
- SoCalGas Joins Lawrence Livermore National Laboratory and Electrochaea to Help Advance Gas Infrastructure Decarbonization • PR Newswire (US) • 03/19/2024 10:55:00 AM
- Sempra Infrastructure Launches Cimarron Wind Project • PR Newswire (US) • 03/14/2024 10:55:00 AM
- SDG&E'S SUPPLY CHAIN BOOSTS ECONOMY BY $2.6 BILLION IN 2023 • PR Newswire (US) • 03/13/2024 09:00:00 PM
- Students Learn About Financial Literacy and Energy Efficiency Through SoCalGas' Junior Achievement Storefront that Showcases Clean Energy's Future • PR Newswire (US) • 03/13/2024 08:15:00 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 03/11/2024 09:29:01 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 03/11/2024 12:47:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 12:40:23 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 12:40:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/09/2024 12:39:35 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 10:57:56 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 10:55:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/07/2024 10:53:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 10:52:37 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/06/2024 10:49:31 PM
- SoCalGas Exceeds California's Supplier Diversity Procurement Goal for 31st Consecutive Year, Purchasing Over 44% of all Goods and Services from Diverse Businesses in 2023 • PR Newswire (US) • 03/06/2024 11:45:00 AM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 03/06/2024 11:01:23 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:50:04 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 01:30:37 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM