Sempra (NYSE:SRE) Issues FY 2022 Earnings Guidance

Sempra (NYSE:SRE – Get Rating) updated its FY 2022 earnings guidance on Monday. 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.

Several equities research analysts have commented on SRE shares. 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. Citigroup lifted their target price on shares of Sempra from $142.00 to $171.00 in a report on Thursday, April 28th. Morgan Stanley reduced their target price on shares of Sempra from $168.00 to $164.00 and set an equal weight rating for the company in a report on Monday. Royal Bank of Canada boosted their price objective on shares of Sempra from $158.00 to $178.00 and gave the company an outperform rating in a report on Wednesday, April 13th. Finally, Credit Suisse Group assumed coverage on shares of Sempra in a report on Monday, April 25th. They issued an outperform rating and a $180.00 price objective for the company. 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 stock currently has a consensus rating of Buy and a consensus price target of $159.50.

SRE traded up $0.63 during trading on Wednesday, reaching $166.74. The stock had a trading volume of 1,326,616 shares, compared to its average volume of 1,719,848. The stock’s 50 day moving average is $164.24 and its two-hundred day moving average is $144.48. 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 has a market capitalization of $52.41 billion, a price-to-earnings ratio of 52.60, a P/E/G ratio of 3.39 and a beta of 0.62. Sempra has a one year low of $119.56 and a one year high of $173.28.

Sempra (NYSE:SRE – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The utilities provider reported $2.91 EPS for the quarter, beating the consensus estimate of $2.86 by $0.05. Sempra had a return on equity of 10.96% and a net margin of 8.44%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm posted $2.95 earnings per share. Sempra’s revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts predict that Sempra will post 8.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, July 7th will be issued a dividend of $1.145 per share. The ex-dividend date is Wednesday, July 6th. This represents a $4.58 dividend on an annualized basis and a yield of 2.75%. Sempra’s dividend payout ratio is currently 144.48%.

In other news, CAO Peter R. Wall sold 2,559 shares of the 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey W. Martin sold 30,796 shares of the business’s stock in a transaction dated 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. Corporate insiders own 0.14% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SRE. Toroso Investments LLC increased its position in shares of Sempra by 42.4% during the first quarter. Toroso Investments LLC now owns 5,641 shares of the utilities provider’s stock worth $948,000 after purchasing an additional 1,680 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Sempra by 54.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 8,516 shares of the utilities provider’s stock valued at $1,432,000 after acquiring an additional 2,999 shares during the period. Wealthfront Advisers LLC increased its position in shares of Sempra by 5.8% in the 1st quarter. Wealthfront Advisers LLC now owns 9,962 shares of the utilities provider’s stock valued at $1,675,000 after acquiring an additional 546 shares during the period. Continuum Advisory LLC acquired a new position in shares of Sempra in the 1st quarter valued at $532,000. Finally, Virtu Financial LLC acquired a new position in shares of Sempra in the 1st quarter valued at $471,000. 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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