Sempra (NYSE:SRE) Announces Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Sempra (NYSE:SREGet Rating) released its earnings results on Thursday. The utilities provider reported $1.98 EPS for the quarter, topping the consensus estimate of $1.75 by $0.23, Briefing.com reports. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3 billion. Sempra had a return on equity of 10.96% and a net margin of 8.44%. Sempra’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS.

Sempra Stock Performance

Shares of SRE traded down $1.65 during mid-day trading on Friday, reaching $159.79. 1,852,772 shares of the company’s stock traded hands, compared to its average volume of 1,683,968. The business’s 50-day moving average price is $153.50 and its 200-day moving average price is $153.89. The stock has a market capitalization of $50.22 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 3.34 and a beta of 0.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.68 and a current ratio of 0.72. Sempra has a 12 month low of $119.56 and a 12 month high of $173.28.

Sempra Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, July 7th were issued a dividend of $1.145 per share. The ex-dividend date was Wednesday, July 6th. This represents a $4.58 dividend on an annualized basis and a dividend yield of 2.87%. Sempra’s dividend payout ratio (DPR) is presently 144.48%.

Analysts Set New Price Targets

SRE has been the subject of several research reports. Royal Bank of Canada boosted their target price on Sempra from $158.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 13th. Bank of America upgraded Sempra from a “neutral” rating to a “buy” rating in a research report on Thursday, July 14th. Morgan Stanley upped their price target on Sempra from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Thursday, July 21st. Citigroup upped their price target on Sempra from $142.00 to $171.00 in a report on Thursday, April 28th. Finally, The Goldman Sachs Group raised Sempra from a “neutral” rating to a “buy” rating and increased their price target for the stock from $164.00 to $167.00 in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cresset Asset Management LLC increased its stake in shares of Sempra by 4.7% during the first quarter. Cresset Asset Management LLC now owns 3,092 shares of the utilities provider’s stock valued at $527,000 after acquiring an additional 140 shares during the period. Virtu Financial LLC acquired a new position in shares of Sempra during the first quarter valued at approximately $471,000. Fund Management at Engine No. 1 LLC acquired a new position in shares of Sempra during the first quarter valued at approximately $454,000. XTX Topco Ltd acquired a new position in shares of Sempra during the first quarter valued at approximately $453,000. Finally, Plancorp LLC increased its stake in shares of Sempra by 4.7% during the first quarter. Plancorp LLC now owns 1,992 shares of the utilities provider’s stock valued at $335,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds 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.

Further Reading

Earnings History for Sempra (NYSE:SRE)

Receive News & Ratings for Sempra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra and related companies with MarketBeat.com's FREE daily email newsletter.