Sempra Energy (SRE) Plans Quarterly Dividend of $0.90

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Sempra Energy (NYSE:SRE) declared a quarterly dividend on Tuesday, December 18th, RTT News reports. Shareholders of record on Monday, December 31st will be given a dividend of 0.895 per share by the utilities provider on Tuesday, January 15th. This represents a $3.58 dividend on an annualized basis and a yield of 3.14%.

Sempra Energy has increased its dividend payment by an average of 7.3% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Sempra Energy has a dividend payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sempra Energy to earn $6.07 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 59.0%.

NYSE:SRE opened at $113.84 on Wednesday. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.60 and a beta of 0.40. Sempra Energy has a 12 month low of $100.49 and a 12 month high of $127.22. The company has a current ratio of 0.59, a quick ratio of 0.55 and a debt-to-equity ratio of 1.27.

Sempra Energy (NYSE:SRE) last released its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.10. Sempra Energy had a negative net margin of 3.33% and a positive return on equity of 9.33%. The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts predict that Sempra Energy will post 5.44 earnings per share for the current fiscal year.

In other Sempra Energy news, Chairman Debra L. Reed sold 27,300 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $117.20, for a total value of $3,199,560.00. Following the completion of the sale, the chairman now owns 145,256 shares of the company’s stock, valued at $17,024,003.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Trevor I. Mihalik sold 4,744 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $116.97, for a total transaction of $554,905.68. Following the completion of the sale, the vice president now directly owns 15,719 shares of the company’s stock, valued at approximately $1,838,651.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,349 shares of company stock valued at $5,760,884. 0.16% of the stock is currently owned by insiders.

SRE has been the topic of a number of research reports. Morgan Stanley reduced their target price on shares of Sempra Energy from $121.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, September 21st. Zacks Investment Research upgraded shares of Sempra Energy from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Thursday, December 13th. Bank of America upgraded shares of Sempra Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $120.00 to $126.00 in a research report on Thursday, October 11th. TheStreet upgraded shares of Sempra Energy from a “c+” rating to a “b” rating in a research report on Wednesday, November 7th. Finally, Wells Fargo & Co set a $129.00 target price on shares of Sempra Energy and gave the stock a “buy” rating in a research report on Monday, September 17th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $124.25.

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

Further Reading: How to calculate the intrinsic value of a stock

Dividend History for Sempra Energy (NYSE:SRE)

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