Sempra Announces Quarterly Dividend of $1.15 (NYSE:SRE)

Sempra (NYSE:SREGet Rating) announced a quarterly dividend on Thursday, May 12th, RTT News reports. Stockholders of record on Thursday, July 7th will be paid a dividend of 1.145 per share by the utilities provider on Friday, July 15th. This represents a $4.58 dividend on an annualized basis and a dividend yield of 2.90%.

Sempra has raised its dividend by an average of 7.1% per year over the last three years and has raised its dividend every year for the last 19 years. Sempra has a dividend payout ratio of 51.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Sempra to earn $8.91 per share next year, which means the company should continue to be able to cover its $4.58 annual dividend with an expected future payout ratio of 51.4%.

Shares of SRE opened at $157.96 on Friday. The firm has a market capitalization of $49.65 billion, a P/E ratio of 49.83, a P/E/G ratio of 3.32 and a beta of 0.62. Sempra has a 12-month low of $119.56 and a 12-month high of $173.28. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average price of $162.84 and a 200-day moving average price of $142.49.

Sempra (NYSE:SREGet Rating) last released its quarterly earnings data on Thursday, May 5th. The utilities provider reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.05. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.35 billion. Sempra had a return on equity of 10.96% and a net margin of 8.44%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.95 earnings per share. Analysts predict that Sempra will post 8.47 earnings per share for the current year.

Several analysts recently weighed in on the company. Mizuho lifted their price objective on Sempra from $148.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. Credit Suisse Group started coverage on Sempra in a report on Monday, April 25th. They issued an “outperform” rating and a $180.00 price objective for the company. Citigroup boosted their target price on shares of Sempra from $142.00 to $171.00 in a report on Thursday, April 28th. Royal Bank of Canada boosted their target price on shares of Sempra from $158.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, April 13th. Finally, Morgan Stanley boosted their target price on shares of Sempra from $162.00 to $168.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $159.90.

In other news, CEO Jeffrey W. Martin sold 30,796 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $162.23, for a total transaction of $4,996,035.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Peter R. Wall sold 2,559 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $144.45, for a total transaction of $369,647.55. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SRE. Zacks Investment Management purchased a new stake in Sempra in the fourth quarter valued at approximately $441,000. NEXT Financial Group Inc boosted its position in Sempra by 65.8% in the fourth quarter. NEXT Financial Group Inc now owns 1,091 shares of the utilities provider’s stock valued at $145,000 after buying an additional 433 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Sempra by 7.9% in the fourth quarter. Glenmede Trust Co. NA now owns 21,597 shares of the utilities provider’s stock valued at $2,856,000 after buying an additional 1,577 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Sempra by 10.1% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,969 shares of the utilities provider’s stock valued at $393,000 after buying an additional 273 shares during the last quarter. Finally, Boston Private Wealth LLC purchased a new stake in Sempra in the fourth quarter valued at approximately $223,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

About Sempra (Get Rating)

Sempra operates as an energy-services holding company in the United States and internationally. The company's San Diego Gas & Electric Company segment provides electric services; and supplies natural gas. It offers electric services to approximately 3.6 million population and natural gas services to approximately 3.3 million population that covers 4,100 square miles.

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Dividend History for Sempra (NYSE:SRE)

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