Sempra (NYSE:SRE) Releases 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 Price Performance

Sempra stock traded up $0.26 during mid-day trading on Thursday, reaching $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 company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.85. The company 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. The business has a fifty day simple moving average of $70.74 and a 200 day simple moving average of $71.86.

Sempra (NYSE:SRE) last released its earnings results on Tuesday, May 7th. The utilities provider reported $1.34 earnings per share (EPS) 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 firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $5.58 billion. During the same quarter in the previous year, the firm earned $1.46 EPS. Sempra’s quarterly revenue was down 44.5% on a year-over-year basis. On average, equities research analysts predict that Sempra will post 4.82 earnings per share for the current year.

Sempra Increases Dividend

The firm also recently announced 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 of this dividend was Wednesday, March 20th. This is an increase from Sempra’s previous quarterly dividend of $0.60. This represents a $2.48 annualized dividend and a dividend yield of 3.29%. Sempra’s payout ratio is presently 51.77%.

Analyst Ratings Changes

Several research firms recently weighed in on SRE. Morgan Stanley boosted 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. Royal Bank of Canada restated an outperform rating and set a $82.00 price target on shares of Sempra in a research note on Wednesday, March 6th. Wells Fargo & Company upped their price target on shares of Sempra from $79.00 to $84.00 and gave the company an overweight rating in a research note on Wednesday. Barclays upped their price target on shares of Sempra from $77.00 to $79.00 and gave the company an overweight rating in a research note on Thursday, March 14th. Finally, BMO Capital Markets raised shares of Sempra from a market perform rating to an outperform rating and upped their target price for the stock from $76.00 to $84.00 in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $82.23.

Insider Transactions at Sempra

In related news, CEO Jeffrey W. Martin sold 50,703 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $70.92, for a total transaction of $3,595,856.76. Following the transaction, the chief executive officer now directly owns 2 shares in the company, valued at approximately $141.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jeffrey W. Martin sold 50,703 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $70.92, for a total value of $3,595,856.76. Following the completion of the transaction, the chief executive officer now directly owns 2 shares of the company’s stock, valued at $141.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Diana L. Day sold 3,937 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $71.21, for a total value of $280,353.77. Following the transaction, the insider now owns 18,145 shares in the company, valued at approximately $1,292,105.45. The disclosure for this sale can be found here. Insiders have sold 122,432 shares of company stock valued at $8,668,035 in the last quarter. 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.