Sempra (NYSE:SRE) Issues FY 2023 Earnings Guidance

Sempra (NYSE:SREGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $8.60-$9.20 for the period, compared to the consensus estimate of $8.96. The company issued revenue guidance of -.Sempra also updated its FY 2022 guidance to $8.10-$8.70 EPS.

A number of equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Sempra in a report on Thursday, March 31st. They issued a hold rating for the company. Citigroup upped their price objective on Sempra from $142.00 to $171.00 in a report on Thursday, April 28th. Morgan Stanley upped their price objective on Sempra from $162.00 to $168.00 and gave the stock an equal weight rating in a report on Wednesday, April 20th. Royal Bank of Canada upped their price objective on Sempra from $158.00 to $178.00 and gave the stock an outperform rating in a report on Wednesday, April 13th. Finally, Credit Suisse Group began coverage on Sempra in a research note on Monday, April 25th. They issued an outperform rating and a $180.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Sempra currently has a consensus rating of Buy and an average price target of $159.90.

SRE traded up $0.20 during midday trading on Monday, reaching $161.26. 13,641 shares of the company’s stock traded hands, compared to its average volume of 1,752,607. The firm has a fifty day moving average of $163.01 and a two-hundred day moving average of $142.88. The stock has a market capitalization of $50.68 billion, a price-to-earnings ratio of 50.81, a P/E/G ratio of 3.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.72 and a quick ratio of 0.68. Sempra has a 52 week low of $119.56 and a 52 week high of $173.28.

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, topping the consensus estimate of $2.86 by $0.05. Sempra had a return on equity of 10.96% and a net margin of 8.44%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the business posted $2.95 EPS. The business’s revenue was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Sempra will post 8.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, July 7th will be issued a $1.145 dividend. This represents a $4.58 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, July 6th. Sempra’s dividend payout ratio (DPR) is currently 144.48%.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRE. NEXT Financial Group Inc lifted its stake in shares of Sempra by 65.8% in the 4th quarter. NEXT Financial Group Inc now owns 1,091 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 433 shares during the period. Fort Point Capital Partners LLC purchased a new position in shares of Sempra in the 1st quarter valued at approximately $212,000. Boston Private Wealth LLC purchased a new position in shares of Sempra in the 4th quarter valued at approximately $223,000. KC Investment Advisors LLC purchased a new position in shares of Sempra in the 1st quarter valued at approximately $262,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Sempra by 780.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,804 shares of the utilities provider’s stock valued at $302,000 after purchasing an additional 1,599 shares during the period. Institutional investors own 86.06% of the company’s stock.

Sempra Company Profile (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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Earnings History and Estimates for Sempra (NYSE:SRE)

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