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 (EPS) guidance of $4.60-4.90 for the period, compared to the consensus estimate of $4.81. Sempra also updated its FY25 guidance to $4.90-5.25 EPS.

Sempra Trading Up 1.3 %

NYSE:SRE opened at $76.18 on Friday. The company has a market cap of $48.16 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a quick ratio of 0.49, a current ratio of 0.54 and a debt-to-equity ratio of 0.85. Sempra has a twelve month low of $63.75 and a twelve month high of $78.70. The business has a 50 day moving average price of $70.84 and a two-hundred day moving average price of $71.89.

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

Sempra Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 21st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Wednesday, March 20th. This is an increase from Sempra’s previous quarterly dividend of $0.60. Sempra’s dividend payout ratio is presently 51.77%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays increased their price objective on Sempra from $77.00 to $79.00 and gave the company an overweight rating in a report on Thursday, March 14th. Morgan Stanley increased their price target on Sempra from $74.00 to $75.00 and gave the company an equal weight rating in a research note on Thursday, March 21st. Wells Fargo & Company increased their price target on Sempra from $79.00 to $84.00 and gave the company an overweight rating in a research note on Wednesday. Mizuho dropped their price target on Sempra from $83.00 to $79.00 and set a buy rating on the stock in a research note on Thursday, January 25th. Finally, StockNews.com cut Sempra from a hold rating to a sell rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $82.23.

Insiders Place Their Bets

In other news, VP Trevor I. Mihalik sold 57,571 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $70.59, for a total transaction of $4,063,936.89. Following the sale, the vice president now directly owns 10,922 shares of the company’s stock, valued at approximately $770,983.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jeffrey W. Martin sold 50,703 shares of the firm’s stock in a transaction dated 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 directly owns 2 shares of the company’s stock, valued at $141.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Trevor I. Mihalik sold 57,571 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 10,922 shares in the company, valued at $770,983.98. The disclosure for this sale can be found here. Insiders have sold 122,432 shares of company stock worth $8,668,035 in the last 90 days. Company insiders own 0.27% of the company’s stock.

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.