Sempra (NYSE:SRE) Updates FY24 Earnings Guidance

Sempra (NYSE:SRE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.60-4.90 for the period, compared to the consensus earnings per share estimate of $4.81. Sempra also updated its FY25 guidance to $4.90-5.25 EPS.

Sempra Stock Up 1.2 %

Shares of NYSE:SRE traded up $0.91 during midday trading on Wednesday, hitting $74.90. 2,006,768 shares of the stock were exchanged, compared to its average volume of 2,949,525. The company has a market capitalization of $47.35 billion, a PE ratio of 15.66, a P/E/G ratio of 2.52 and a beta of 0.70. The business’s fifty day simple moving average is $70.74 and its two-hundred day simple moving average is $71.86. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.49 and a current ratio of 0.54. Sempra has a 52-week low of $63.75 and a 52-week high of $78.70.

Sempra (NYSE:SRE) last announced its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.01). Sempra had a return on equity of 9.45% and a net margin of 18.26%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. The firm’s revenue was down 44.5% compared to the same quarter last year. As a group, research analysts predict that Sempra will post 4.82 earnings per share for the current fiscal year.

Sempra Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 21st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, March 20th. This is a positive change from Sempra’s previous quarterly dividend of $0.60. Sempra’s dividend payout ratio (DPR) is currently 51.77%.

Analysts Set New Price Targets

Several research firms recently commented on SRE. StockNews.com downgraded shares of Sempra from a hold rating to a sell rating in a research note on Tuesday, February 20th. Barclays boosted their target price on Sempra from $77.00 to $79.00 and gave the stock an overweight rating in a research note on Thursday, March 14th. Wells Fargo & Company increased their price objective on Sempra from $79.00 to $84.00 and gave the company an overweight rating in a report on Wednesday. Morgan Stanley raised their price target on shares of Sempra from $74.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. Finally, BMO Capital Markets upgraded Sempra from a market perform rating to an outperform rating and boosted their price objective for the company from $76.00 to $84.00 in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Sempra currently has a consensus rating of Moderate Buy and a consensus target price of $82.23.

Insider Activity

In other news, insider Diana L. Day sold 3,937 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $71.21, for a total transaction of $280,353.77. Following the sale, the insider now owns 18,145 shares of the company’s stock, valued at approximately $1,292,105.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Trevor I. Mihalik sold 57,571 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $70.59, for a total value of $4,063,936.89. Following the sale, the vice president now directly owns 10,922 shares of the company’s stock, valued at $770,983.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Diana L. Day sold 3,937 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $71.21, for a total transaction of $280,353.77. Following the sale, the insider now directly owns 18,145 shares in the company, valued at $1,292,105.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,432 shares of company stock valued at $8,668,035. 0.27% of the stock is currently owned by corporate insiders.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.