Sempra (NYSE:SRE) Releases FY24 Earnings Guidance

Sempra (NYSE:SRE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $4.60-4.90 for the period, compared to the consensus earnings per share estimate of $4.81. Sempra also updated its FY25 guidance to $4.90-5.25 EPS.

Analyst Upgrades and Downgrades

SRE has been the subject of several research analyst reports. Mizuho cut their target price 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. Barclays lifted their target price on Sempra from $77.00 to $79.00 and gave the stock an overweight rating in a report on Thursday, March 14th. StockNews.com lowered Sempra from a hold rating to a sell rating in a research note on Tuesday, February 20th. Morgan Stanley upped their price objective on Sempra from $74.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $82.00 target price on shares of Sempra in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $82.14.

Sempra Trading Up 0.5 %

Shares of SRE stock traded up $0.38 during trading hours on Tuesday, reaching $73.09. 1,585,825 shares of the stock were exchanged, compared to its average volume of 2,929,162. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.85. Sempra has a 12-month low of $63.75 and a 12-month high of $78.70. The firm has a market capitalization of $46.20 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company’s 50-day moving average price is $70.69 and its 200-day moving average price is $71.82.

Sempra (NYSE:SRE) last issued its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $4.01 billion. Sempra had a return on equity of 9.45% and a net margin of 18.26%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, equities analysts anticipate that Sempra will post 4.82 earnings per share for the current year.

Sempra Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 21st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Wednesday, March 20th. This is an increase from Sempra’s previous quarterly dividend of $0.60. Sempra’s dividend payout ratio (DPR) is currently 51.77%.

Insider Activity at Sempra

In other Sempra news, insider Diana L. Day sold 3,937 shares of the stock in a transaction 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 sale, the insider now owns 18,145 shares of the company’s stock, valued at approximately $1,292,105.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Trevor I. Mihalik sold 57,571 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $70.59, for a total value of $4,063,936.89. Following the transaction, the vice president now directly owns 10,922 shares of the company’s stock, valued at $770,983.98. The sale 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 company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $71.21, for a total value 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 quarter, 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.