Sempra (NYSE:SRE) Updates 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 Price Performance

Shares of Sempra stock traded up $0.91 during mid-day trading on Wednesday, reaching $74.90. 2,006,768 shares of the stock were exchanged, compared to its average volume of 2,949,525. The firm has a 50-day simple moving average of $70.74 and a 200 day simple moving average of $71.86. Sempra has a fifty-two week low of $63.75 and a fifty-two week high of $78.70. The company has a market cap of $47.35 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The company has a current ratio of 0.54, a quick ratio of 0.49 and a debt-to-equity ratio of 0.85.

Sempra (NYSE:SRE) last issued its quarterly 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 return on equity of 9.45% and a net margin of 18.26%. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the business earned $1.46 earnings per share. Sempra’s revenue was down 44.5% compared to the same quarter last year. On average, sell-side analysts predict that Sempra will post 4.82 EPS 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 issued a $0.62 dividend. This is a boost from Sempra’s previous quarterly dividend of $0.60. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Wednesday, March 20th. Sempra’s dividend payout ratio (DPR) is currently 51.77%.

Wall Street Analyst Weigh In

SRE has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an outperform rating and set a $82.00 target price on shares of Sempra in a research report on Wednesday, March 6th. Wells Fargo & Company boosted their target price on shares of Sempra from $79.00 to $84.00 and gave the company an overweight rating in a report on Wednesday. BMO Capital Markets upgraded 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 research report on Thursday, January 11th. Morgan Stanley lifted their price target on Sempra from $74.00 to $75.00 and gave the stock an equal weight rating in a research note on Thursday, March 21st. Finally, StockNews.com lowered Sempra from a hold rating to a sell rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $82.23.

Insiders Place Their Bets

In other 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 transaction of $3,595,856.76. Following the completion of the sale, the chief executive officer now owns 2 shares in the company, valued at $141.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sempra news, CEO Jeffrey W. Martin sold 50,703 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2 shares of the company’s stock, valued at $141.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, 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 90 days, insiders have sold 122,432 shares of company stock valued at $8,668,035. 0.27% of the stock is currently owned by insiders.

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.