Sempra Energy (NYSE:SRE) Announces Earnings Results

Sempra Energy (NYSE:SRE) posted its earnings results on Wednesday. The utilities provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.27, Zacks reports. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.99 billion. Sempra Energy had a net margin of 20.28% and a return on equity of 8.42%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS.

Sempra Energy Stock Up 0.7%

Sempra Energy stock traded up $0.60 during trading hours on Thursday, hitting $92.99. The company had a trading volume of 331,987 shares, compared to its average volume of 4,334,061. Sempra Energy has a fifty-two week low of $61.90 and a fifty-two week high of $95.77. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.41. The firm has a market capitalization of $60.67 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.84 and a beta of 0.68. The firm’s fifty day moving average is $87.99 and its 200-day moving average is $81.08.

Sempra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.645 dividend. This represents a $2.58 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, October 1st. Sempra Energy’s dividend payout ratio is currently 62.32%.

Insider Activity

In other Sempra Energy news, Director Kevin C. Sagara sold 28,864 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $84.21, for a total transaction of $2,430,637.44. Following the transaction, the director directly owned 15,475 shares of the company’s stock, valued at $1,303,149.75. This represents a 65.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Caroline Ann Winn sold 5,114 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $82.01, for a total value of $419,399.14. Following the transaction, the executive vice president directly owned 39,380 shares in the company, valued at approximately $3,229,553.80. This represents a 11.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,411 shares of company stock worth $4,141,790. Insiders own 0.27% of the company’s stock.

Institutional Trading of Sempra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRE. Cary Street Partners Financial LLC grew its stake in shares of Sempra Energy by 78.5% in the second quarter. Cary Street Partners Financial LLC now owns 771 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 339 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Sempra Energy during the second quarter valued at approximately $146,000. Howland Capital Management LLC acquired a new stake in Sempra Energy in the 2nd quarter valued at $217,000. Two Sigma Securities LLC acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $271,000. Finally, Vivaldi Capital Management LP boosted its position in Sempra Energy by 4.8% in the second quarter. Vivaldi Capital Management LP now owns 3,660 shares of the utilities provider’s stock valued at $277,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

Wall Street Analyst Weigh In

SRE has been the subject of several analyst reports. Citigroup restated a “neutral” rating and issued a $80.00 target price (up from $70.00) on shares of Sempra Energy in a research note on Monday, August 4th. BTIG Research upgraded Sempra Energy to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group set a $89.00 target price on shares of Sempra Energy and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company initiated coverage on shares of Sempra Energy in a research note on Monday, October 27th. They set an “overweight” rating and a $115.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.75.

Sempra Energy Company Profile

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.