Sempra (NYSE:SRE) Issues Earnings Results

Sempra (NYSE:SRE) posted its earnings results on Tuesday. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01), Briefing.com reports. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $5.58 billion. Sempra had a net margin of 18.26% and a return on equity of 9.45%. The business’s quarterly revenue was down 44.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 earnings per share. Sempra updated its FY24 guidance to $4.60-4.90 EPS and its FY25 guidance to $4.90-5.25 EPS.

Sempra Trading Up 0.6 %

Shares of NYSE SRE traded up $0.45 during midday trading on Friday, reaching $76.62. The company had a trading volume of 1,670,483 shares, compared to its average volume of 2,962,323. The stock has a market cap of $48.44 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. Sempra has a one year low of $63.75 and a one year high of $78.01. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average price is $70.95 and its 200-day moving average price is $71.92.

Sempra Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 21st were paid a $0.62 dividend. This is a boost from Sempra’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. Sempra’s dividend payout ratio is 51.77%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets raised Sempra from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $76.00 to $84.00 in a research report on Thursday, January 11th. Morgan Stanley boosted their price objective on Sempra from $74.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Mizuho decreased their price target on shares of Sempra from $83.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Wells Fargo & Company boosted their target price on shares of Sempra from $79.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of Sempra from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.23.

Insider Transactions at Sempra

In other news, insider Diana L. Day sold 3,937 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $71.21, for a total value of $280,353.77. Following the completion of the transaction, the insider now owns 18,145 shares in the company, valued at approximately $1,292,105.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Trevor I. Mihalik sold 57,571 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $70.59, for a total transaction of $4,063,936.89. Following the completion of the transaction, the vice president now directly owns 10,922 shares of the company’s stock, valued at $770,983.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Diana L. Day sold 3,937 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $71.21, for a total transaction of $280,353.77. Following the completion of the sale, the insider now owns 18,145 shares in the company, valued at approximately $1,292,105.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,432 shares of company stock worth $8,668,035. Company insiders own 0.27% of the company’s stock.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.