Sempra (NYSE:SRE) Releases FY23 Earnings Guidance

Sempra (NYSE:SRE – Get Rating) updated its FY23 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $8.60-9.20 for the period, compared to the consensus estimate of $9.00. Sempra also updated its FY 2022 guidance to $8.10-$8.70 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays decreased their price target on Sempra from $186.00 to $176.00 and set an overweight rating on the stock in a report on Monday, July 18th. Citigroup lifted their target price on Sempra from $142.00 to $171.00 in a research report on Thursday, April 28th. Bank of America raised Sempra from a neutral rating to a buy rating in a research report on Thursday, July 14th. Credit Suisse Group initiated coverage on Sempra in a research report on Monday, April 25th. They set an outperform rating and a $180.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on Sempra from $158.00 to $178.00 and gave the stock an outperform rating in a research report on Wednesday, April 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $166.22.

Sempra Price Performance

NYSE SRE traded down $1.65 during midday trading on Friday, hitting $159.79. The company had a trading volume of 1,857,077 shares, compared to its average volume of 1,472,363. The company has a market capitalization of $50.22 billion, a PE ratio of 44.76, a P/E/G ratio of 3.29 and a beta of 0.67. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $153.50 and a 200-day moving average price of $153.89. Sempra has a twelve month low of $119.56 and a twelve month high of $173.28.

Sempra (NYSE:SRE – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The utilities provider reported $1.98 earnings per share for the quarter, beating 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 firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. As a group, analysts anticipate that Sempra will post 8.51 earnings per share for the current fiscal year.

Sempra Announces Dividend

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 of this dividend 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 currently 128.29%.

Hedge Funds Weigh In On Sempra

A number of institutional investors have recently modified their holdings of the business. Delphia USA Inc. acquired a new position in Sempra in the 1st quarter worth about $211,000. Fort Point Capital Partners LLC acquired a new position in Sempra in the 1st quarter worth about $212,000. Evercore Wealth Management LLC acquired a new position in Sempra in the 1st quarter worth about $236,000. Lido Advisors LLC acquired a new position in Sempra in the 1st quarter worth about $258,000. Finally, KC Investment Advisors LLC acquired a new position in Sempra in the 1st quarter worth about $262,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

About Sempra

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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.