Sempra (NYSE:SRE) Updates 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 equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Sempra from $158.00 to $178.00 and gave the stock an outperform rating in a research note on Wednesday, April 13th. StockNews.com initiated coverage on shares of Sempra in a research report on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley dropped their price target on shares of Sempra from $168.00 to $164.00 and set an equal weight rating for the company in a research report on Monday. Mizuho lifted their price target on shares of Sempra from $148.00 to $174.00 and gave the company a buy rating in a research report on Wednesday, March 30th. Finally, Credit Suisse Group initiated coverage on shares of Sempra in a research report on Monday, April 25th. They set an outperform rating and a $180.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and a consensus price target of $159.50.

Shares of SRE stock traded up $3.58 during trading on Monday, reaching $163.69. The company’s stock had a trading volume of 13,500 shares, compared to its average volume of 1,729,814. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.72 and a quick ratio of 0.68. The company has a market capitalization of $51.45 billion, a price-to-earnings ratio of 51.61, a P/E/G ratio of 3.39 and a beta of 0.62. The stock’s 50-day moving average price is $163.83 and its 200 day moving average price is $144.08. Sempra has a 1-year low of $119.56 and a 1-year high of $173.28.

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

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $4.58 annualized dividend and a dividend yield of 2.80%. Sempra’s dividend payout ratio is presently 144.48%.

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

A number of hedge funds have recently added to or reduced their stakes in SRE. Zacks Investment Management acquired a new position in Sempra in the 4th quarter valued at $441,000. Integrated Wealth Concepts LLC increased its stake 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 during the period. Plancorp LLC increased its stake in Sempra by 4.7% in the 1st quarter. Plancorp LLC now owns 1,992 shares of the utilities provider’s stock valued at $335,000 after buying an additional 90 shares during the period. SVB Wealth LLC increased its stake in Sempra by 11.5% in the 1st quarter. SVB Wealth LLC now owns 1,877 shares of the utilities provider’s stock valued at $316,000 after buying an additional 193 shares during the period. Finally, Centaurus Financial Inc. increased its stake in Sempra by 19.1% in the 1st quarter. Centaurus Financial Inc. now owns 1,808 shares of the utilities provider’s stock valued at $304,000 after buying an additional 290 shares during the period. Hedge funds and other 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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