Sempra (NYSE:SRE) Issues FY24 Earnings Guidance

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

Sempra Trading Up 0.3 %

NYSE:SRE traded up $0.26 during mid-day trading on Thursday, hitting $75.49. The company had a trading volume of 1,080,950 shares, compared to its average volume of 2,952,303. Sempra has a fifty-two week low of $63.75 and a fifty-two week high of $78.70. The business’s fifty day moving average is $70.74 and its two-hundred day 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. The firm has a market cap of $47.72 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.52 and a beta of 0.70.

Sempra (NYSE:SRE) last released its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.01). Sempra had a net margin of 18.26% and a return on equity of 9.45%. The company 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 company posted $1.46 EPS. The company’s quarterly revenue was down 44.5% compared to the same quarter last year. As a group, research analysts expect that Sempra will post 4.82 earnings per share for the current year.

Sempra Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 21st were given a dividend of $0.62 per share. The ex-dividend date was Wednesday, March 20th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from Sempra’s previous quarterly dividend of $0.60. Sempra’s dividend payout ratio (DPR) is currently 51.77%.

Analyst Ratings Changes

SRE has been the topic of a number of research analyst reports. StockNews.com lowered Sempra from a hold rating to a sell rating in a research report on Tuesday, February 20th. Wells Fargo & Company raised their price target on Sempra from $79.00 to $84.00 and gave the company an overweight rating in a research note on Wednesday. BMO Capital Markets upgraded Sempra from a market perform rating to an outperform rating and lifted their target price for the stock from $76.00 to $84.00 in a research note on Thursday, January 11th. Mizuho reduced their target price on Sempra from $83.00 to $79.00 and set a buy rating for the company in a research note on Thursday, January 25th. Finally, Morgan Stanley lifted their price target on Sempra from $74.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Sempra currently has an average rating of Moderate Buy and a consensus target price of $82.23.

Insider Activity

In other news, CEO Jeffrey W. Martin sold 50,703 shares of Sempra stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $70.92, for a total value of $3,595,856.76. Following the transaction, the chief executive officer now owns 2 shares in the company, valued at approximately $141.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Diana L. Day sold 3,937 shares of the business’s 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 owns 18,145 shares in the company, valued at approximately $1,292,105.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey W. Martin sold 50,703 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $70.92, for a total value of $3,595,856.76. Following the sale, the chief executive officer now owns 2 shares in the company, valued at approximately $141.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,432 shares of company stock worth $8,668,035. Insiders own 0.27% of the company’s stock.

About Sempra

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.