Sempra (NYSE:SRE) Issues FY23 Earnings Guidance

Sempra (NYSE:SREGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided EPS guidance of $8.60-9.20 for the period, compared to the consensus EPS estimate of $9.00. Sempra also updated its FY 2022 guidance to $8.10-$8.70 EPS.

Sempra Trading Down 1.0 %

Shares of SRE traded down $1.65 during trading hours on Friday, hitting $159.79. The stock had a trading volume of 1,857,077 shares, compared to its average volume of 1,472,363. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market cap of $50.22 billion, a P/E ratio of 44.76, a P/E/G ratio of 3.29 and a beta of 0.67. The company’s fifty day simple moving average is $153.50 and its 200 day simple moving average is $153.89. Sempra has a 12-month low of $119.56 and a 12-month high of $173.28.

Sempra (NYSE:SREGet Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.23. Sempra had a return on equity of 10.92% and a net margin of 8.84%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company posted $1.63 EPS. The business’s quarterly revenue was up 29.4% on a year-over-year basis. Equities research analysts forecast that Sempra will post 8.51 EPS for the current fiscal year.

Sempra Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, July 7th were given a $1.145 dividend. This represents a $4.58 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, July 6th. Sempra’s dividend payout ratio (DPR) is presently 128.29%.

Analyst Upgrades and Downgrades

Several research firms have commented on SRE. Royal Bank of Canada raised their price objective on Sempra from $158.00 to $178.00 and gave the company an outperform rating in a research report on Wednesday, April 13th. Credit Suisse Group initiated coverage on Sempra in a research report on Monday, April 25th. They issued an outperform rating and a $180.00 price objective on the stock. Morgan Stanley lifted their target price on Sempra from $152.00 to $160.00 and gave the stock an equal weight rating in a research report on Thursday, July 21st. The Goldman Sachs Group raised Sempra from a neutral rating to a buy rating and lifted their target price for the stock from $164.00 to $167.00 in a research report on Wednesday, July 6th. Finally, Barclays dropped their target price on Sempra from $186.00 to $176.00 and set an overweight rating on the stock in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $166.22.

Hedge Funds Weigh In On Sempra

A number of hedge funds have recently bought and sold shares of SRE. Mirae Asset Global Investments Co. Ltd. boosted its stake in Sempra by 0.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,141,824 shares of the utilities provider’s stock valued at $191,963,000 after acquiring an additional 6,246 shares during the period. Acadian Asset Management LLC boosted its stake in Sempra by 780.0% in the first quarter. Acadian Asset Management LLC now owns 1,804 shares of the utilities provider’s stock valued at $302,000 after acquiring an additional 1,599 shares during the period. Cibc World Market Inc. acquired a new position in Sempra in the first quarter valued at approximately $782,000. Dimensional Fund Advisors LP boosted its stake in Sempra by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 668,646 shares of the utilities provider’s stock valued at $112,411,000 after acquiring an additional 23,431 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in Sempra by 77.4% in the first quarter. Vontobel Holding Ltd. now owns 13,575 shares of the utilities provider’s stock valued at $2,276,000 after acquiring an additional 5,924 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Sempra Company Profile

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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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Earnings History and Estimates for Sempra (NYSE:SRE)

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