Sempra (NYSE:SRE) Issues FY 2024 Earnings Guidance

Sempra (NYSE:SRE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 4.600-4.900 for the period, compared to the consensus earnings per share estimate of 4.810. The company issued revenue guidance of -. Sempra also updated its FY 2025 guidance to 4.900-5.250 EPS.

Sempra Stock Performance

Shares of SRE stock traded down $0.15 during trading on Wednesday, reaching $73.84. The company had a trading volume of 172,799 shares, compared to its average volume of 2,928,610. The company has a market capitalization of $46.68 billion, a PE ratio of 15.45, a PEG ratio of 2.52 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.54 and a quick ratio of 0.49. The firm’s 50 day simple moving average is $70.74 and its two-hundred day simple moving average is $71.86. Sempra has a one year low of $63.75 and a one year high of $78.70.

Sempra (NYSE:SRE) last posted its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.01). Sempra had a return on equity of 9.45% and a net margin of 18.26%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was down 44.5% on a year-over-year basis. Sell-side analysts forecast that Sempra will post 4.82 earnings per share for the current year.

Sempra Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.36%. This is an increase from Sempra’s previous quarterly dividend of $0.60. The ex-dividend date was Wednesday, March 20th. Sempra’s payout ratio is presently 51.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SRE shares. BMO Capital Markets raised Sempra from a market perform rating to an outperform rating and lifted their price objective for the company from $76.00 to $84.00 in a report on Thursday, January 11th. Morgan Stanley boosted their target price on Sempra from $74.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Mizuho reduced their target price on Sempra from $83.00 to $79.00 and set a buy rating on the stock in a report on Thursday, January 25th. 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. Finally, Barclays boosted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $82.14.

Insider Buying and Selling at Sempra

In related news, EVP Justin Christopher Bird sold 5,063 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $71.22, for a total transaction of $360,586.86. Following the sale, the executive vice president now owns 19,712 shares in the company, valued at approximately $1,403,888.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Justin Christopher Bird sold 5,063 shares of Sempra stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $71.22, for a total transaction of $360,586.86. Following the transaction, the executive vice president now owns 19,712 shares in the company, valued at $1,403,888.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey W. Martin sold 50,703 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $70.92, for a total transaction of $3,595,856.76. Following the completion of the sale, the chief executive officer now directly owns 2 shares in the company, valued at approximately $141.84. The disclosure for this sale can be found here. Insiders have sold a total of 122,432 shares of company stock valued at $8,668,035 in the last three months. 0.27% of the stock is currently owned by company insiders.

About Sempra

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.