Sempra (NYSE:SRE) Releases FY 2023 Earnings Guidance

Sempra (NYSE:SREGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $8.60-$9.20 for the period, compared to the consensus earnings per share 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 research firms have recently weighed in on SRE. Mizuho boosted their target price on Sempra from $148.00 to $174.00 and gave the company a buy rating in a research note on Wednesday, March 30th. StockNews.com began coverage on Sempra in a research note on Thursday, March 31st. They issued a hold rating for the company. 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. Royal Bank of Canada boosted their target price on Sempra from $158.00 to $178.00 and gave the company an outperform rating in a research note on Wednesday, April 13th. Finally, Morgan Stanley boosted their target price on Sempra from $162.00 to $168.00 and gave the company an equal weight rating in a research note on Wednesday, April 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $159.90.

NYSE SRE traded up $0.20 on Monday, hitting $161.26. The company’s stock had a trading volume of 13,641 shares, compared to its average volume of 1,752,607. Sempra has a 52-week low of $119.56 and a 52-week 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 company’s 50-day simple moving average is $163.01 and its 200 day simple moving average is $142.88. The firm has a market cap of $50.68 billion, a P/E ratio of 50.81, a PEG ratio of 3.37 and a beta of 0.62.

Sempra (NYSE:SREGet Rating) last released its earnings results on Thursday, May 5th. The utilities provider reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.05. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Sempra had a return on equity of 10.96% and a net margin of 8.44%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. On average, research analysts forecast that Sempra will post 8.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, July 7th will be paid a $1.145 dividend. This represents a $4.58 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, July 6th. Sempra’s payout ratio is presently 144.48%.

In related news, CAO Peter R. Wall sold 2,559 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $144.45, for a total transaction of $369,647.55. The transaction was disclosed in a document filed 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 have recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its holdings in shares of Sempra by 7.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 6,742 shares of the utilities provider’s stock worth $1,133,000 after purchasing an additional 452 shares in the last quarter. United Capital Financial Advisers LLC increased its holdings in shares of Sempra by 8.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 17,927 shares of the utilities provider’s stock worth $3,014,000 after purchasing an additional 1,448 shares in the last quarter. Cresset Asset Management LLC increased its holdings in shares of Sempra by 4.7% in the 1st quarter. Cresset Asset Management LLC now owns 3,092 shares of the utilities provider’s stock worth $527,000 after purchasing an additional 140 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Sempra in the 1st quarter worth $1,551,000. Finally, Invesco Ltd. increased its holdings in shares of Sempra by 22.2% in the 1st quarter. Invesco Ltd. now owns 2,287,516 shares of the utilities provider’s stock worth $384,577,000 after purchasing an additional 416,022 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

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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