Sempra (NYSE:SRE) Updates FY 2024 Earnings Guidance

Sempra (NYSE:SRE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 4.600-4.900 for the period, compared to the consensus estimate of 4.790. The company issued revenue guidance of -. Sempra also updated its FY 2025 guidance to 4.900-5.250 EPS.

Sempra Stock Performance

Sempra stock traded up $0.84 during trading on Friday, hitting $78.41. The stock had a trading volume of 2,482,117 shares, compared to its average volume of 3,001,310. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average is $76.82 and its two-hundred day moving average is $73.55. Sempra has a 1 year low of $63.75 and a 1 year high of $83.68. The stock has a market cap of $49.41 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74.

Sempra (NYSE:SRE) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a return on equity of 8.95% and a net margin of 20.99%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The firm’s revenue was down 9.7% compared to the same quarter last year. As a group, analysts predict that Sempra will post 4.8 EPS for the current year.

Sempra Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Thursday, June 27th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, June 27th. Sempra’s payout ratio is currently 54.99%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Sempra from $79.00 to $84.00 and gave the company an overweight rating in a report on Wednesday, May 8th. Evercore ISI lifted their target price on Sempra from $83.00 to $84.00 and gave the company an outperform rating in a report on Wednesday. BMO Capital Markets lowered their price target on shares of Sempra from $86.00 to $84.00 and set an outperform rating on the stock in a report on Wednesday, July 10th. Morgan Stanley cut their price objective on shares of Sempra from $79.00 to $76.00 and set an equal weight rating for the company in a research report on Monday, June 24th. Finally, LADENBURG THALM/SH SH lowered their target price on shares of Sempra from $81.50 to $79.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $82.27.

Insider Activity

In other Sempra news, CAO Peter R. Wall sold 6,100 shares of Sempra stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total transaction of $457,927.00. Following the transaction, the chief accounting officer now directly owns 14,751 shares of the company’s stock, valued at $1,107,357.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Peter R. Wall sold 6,100 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $75.07, for a total transaction of $457,927.00. Following the transaction, the chief accounting officer now directly owns 14,751 shares of the company’s stock, valued at $1,107,357.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard J. Mark bought 1,925 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $77.97 per share, with a total value of $150,092.25. Following the purchase, the director now owns 5,420 shares in the company, valued at approximately $422,597.40. The disclosure for this purchase can be found here. Corporate insiders own 0.24% 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.