Sempra Energy (NYSE:SRE) Updates FY21 Earnings Guidance

Sempra Energy (NYSE:SRE) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $7.50-8.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.83. Sempra Energy also updated its FY20 guidance to $6.70-7.50 EPS.

SRE stock traded up $10.61 during trading hours on Tuesday, reaching $104.03. 2,825,306 shares of the stock were exchanged, compared to its average volume of 1,967,023. The firm’s 50-day moving average is $138.95 and its 200-day moving average is $145.64. The company has a market cap of $29.13 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 2.52 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.36 and a quick ratio of 0.33. Sempra Energy has a 12 month low of $88.00 and a 12 month high of $161.87.

Sempra Energy (NYSE:SRE) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.07. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Sempra Energy had a return on equity of 9.65% and a net margin of 19.97%. The company’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.56 EPS. As a group, equities research analysts forecast that Sempra Energy will post 7.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 20th will be issued a dividend of $1.045 per share. This represents a $4.18 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, March 19th. This is a boost from Sempra Energy’s previous quarterly dividend of $0.97. Sempra Energy’s dividend payout ratio is 61.65%.

SRE has been the subject of a number of research reports. Vertical Research initiated coverage on Sempra Energy in a report on Monday, February 24th. They set a hold rating and a $167.00 target price for the company. BMO Capital Markets initiated coverage on Sempra Energy in a report on Wednesday, February 19th. They set a market perform rating and a $164.00 target price for the company. Citigroup lowered their target price on Sempra Energy from $167.00 to $152.00 and set a neutral rating for the company in a report on Wednesday, March 4th. Barclays upgraded Sempra Energy from an equal weight rating to an overweight rating and set a $152.00 target price for the company in a report on Thursday, March 12th. Finally, Cfra upgraded Sempra Energy from a buy rating to a strong-buy rating and lowered their target price for the stock from $162.00 to $120.00 in a report on Wednesday, March 18th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $153.73.

In related news, VP Dennis V. Arriola acquired 1,000 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $100.73 per share, for a total transaction of $100,730.00. Following the acquisition, the vice president now directly owns 44,794 shares of the company’s stock, valued at $4,512,099.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter R. Wall sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $156.84, for a total value of $246,081.96. Following the completion of the transaction, the chief accounting officer now owns 2,242 shares of the company’s stock, valued at approximately $351,635.28. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Sempra Energy Company Profile

Sempra Energy, together with its subsidiaries, invests in, develops, and operates energy infrastructure, as well as provides electric and gas services in the United States and internationally. The company's San Diego Gas & Electric Company segment generates, transmits, and distributes electricity; and supplies natural gas.

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