Sempra (NYSE:SRE) Updates FY 2022 Earnings Guidance

Sempra (NYSE:SREGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $8.10-$8.70 for the period, compared to the consensus estimate of $8.50. The company issued revenue guidance of -.Sempra also updated its FY 2023 guidance to $8.60-$9.20 EPS.

Shares of NYSE SRE traded up $0.20 during mid-day trading on Monday, reaching $161.26. 13,641 shares of the company’s stock were exchanged, compared to its average volume of 1,752,607. The firm has a market capitalization of $50.68 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 3.37 and a beta of 0.62. 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 business has a fifty day simple moving average of $163.01 and a 200 day simple moving average of $142.88. Sempra has a twelve month low of $119.56 and a twelve month high of $173.28.

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

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

A number of equities research analysts have recently commented on SRE shares. StockNews.com started coverage on Sempra in a research report on Thursday, March 31st. They set a hold rating on the stock. Royal Bank of Canada lifted their target price on Sempra from $158.00 to $178.00 and gave the company an outperform rating in a research report on Wednesday, April 13th. Mizuho lifted their target price on Sempra from $148.00 to $174.00 and gave the company a buy rating in a research report on Wednesday, March 30th. Morgan Stanley lifted their target price on Sempra from $162.00 to $168.00 and gave the company an equal weight rating in a research report on Wednesday, April 20th. Finally, Credit Suisse Group began coverage on Sempra in a research report on Monday, April 25th. They issued an outperform rating and a $180.00 target price on the stock. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $159.90.

In other news, CEO Jeffrey W. Martin sold 30,796 shares of Sempra stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $162.23, for a total transaction of $4,996,035.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Peter R. Wall sold 2,559 shares of Sempra 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 disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Toroso Investments LLC boosted its stake in shares of Sempra by 15.8% during the 4th quarter. Toroso Investments LLC now owns 3,961 shares of the utilities provider’s stock worth $524,000 after acquiring an additional 539 shares during the period. Fund Management at Engine No. 1 LLC bought a new position in shares of Sempra during the 1st quarter worth approximately $454,000. XTX Topco Ltd bought a new position in shares of Sempra during the 1st quarter worth approximately $453,000. Zacks Investment Management bought a new stake in Sempra in the 4th quarter valued at $441,000. Finally, Integrated Wealth Concepts LLC grew its holdings in Sempra by 10.1% in the 4th 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 in the last quarter. 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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