Sempra Energy (SRE) Posts Earnings Results

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Sempra Energy (NYSE:SRE) issued its quarterly earnings data on Wednesday. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.10, MarketWatch Earnings reports. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Sempra Energy had a positive return on equity of 8.69% and a negative net margin of 5.89%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $1.04 earnings per share. Sempra Energy updated its FY18 guidance to $5.30 to $5.80 EPS and its FY 2018 guidance to $5.30-5.80 EPS.

Shares of NYSE:SRE traded up $3.26 during midday trading on Wednesday, reaching $116.46. The company’s stock had a trading volume of 41,436 shares, compared to its average volume of 1,718,808. Sempra Energy has a fifty-two week low of $100.49 and a fifty-two week high of $127.22. The firm has a market cap of $29.82 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.37. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.58.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 21st were paid a $0.895 dividend. The ex-dividend date was Thursday, September 20th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.07%. Sempra Energy’s dividend payout ratio (DPR) is presently 66.05%.

Large investors have recently made changes to their positions in the company. Royal London Asset Management Ltd. acquired a new stake in shares of Sempra Energy in the second quarter valued at $12,460,000. Lake Street Advisors Group LLC acquired a new stake in Sempra Energy in the second quarter worth about $435,000. Old Port Advisors acquired a new stake in Sempra Energy in the second quarter worth about $627,000. Tyers Asset Management LLC increased its position in Sempra Energy by 11.7% in the second quarter. Tyers Asset Management LLC now owns 6,534 shares of the utilities provider’s stock worth $759,000 after purchasing an additional 682 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Sempra Energy by 222.2% in the second quarter. Cubist Systematic Strategies LLC now owns 9,449 shares of the utilities provider’s stock worth $1,097,000 after purchasing an additional 6,516 shares during the period. Institutional investors own 88.44% of the company’s stock.

A number of research analysts have issued reports on SRE shares. Morgan Stanley started coverage on Sempra Energy in a report on Friday, August 10th. They set a “weight” rating for the company. Bank of America cut their price objective on Sempra Energy from $122.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, September 26th. JPMorgan Chase & Co. set a $110.00 price objective on Sempra Energy and gave the company a “hold” rating in a report on Monday, July 30th. ValuEngine raised Sempra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Wells Fargo & Co set a $129.00 price objective on Sempra Energy and gave the company a “buy” rating in a report on Monday, September 17th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $123.25.

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About Sempra Energy

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 engages in the generation, transmission, and distribution of electricity.

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Earnings History for Sempra Energy (NYSE:SRE)

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