Sempra (NYSE:SRE) Issues Quarterly Earnings Results

Sempra (NYSE:SRE – Get Rating) released its quarterly earnings results on Thursday. The utilities provider reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.23, Briefing.com reports. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3 billion. Sempra had a return on equity of 10.92% and a net margin of 8.84%. The company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 EPS.

Sempra Stock Down 1.0 %

SRE stock opened at $159.79 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.85. Sempra has a 1 year low of $119.56 and a 1 year high of $173.28. The company has a fifty day simple moving average of $153.50 and a 200 day simple moving average of $153.89. The firm has a market cap of $50.22 billion, a PE ratio of 44.76, a PEG ratio of 3.29 and a beta of 0.67.

Sempra Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, July 7th were paid a $1.145 dividend. This represents a $4.58 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Wednesday, July 6th. Sempra’s payout ratio is presently 128.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SRE shares. Royal Bank of Canada increased their target price on Sempra from $158.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 13th. Credit Suisse Group assumed coverage on Sempra in a report on Monday, April 25th. They issued an “outperform” rating and a $180.00 price target for the company. Citigroup lifted their price target on Sempra from $142.00 to $171.00 in a research note on Thursday, April 28th. Bank of America upgraded Sempra from a “neutral” rating to a “buy” rating in a research note on Thursday, July 14th. Finally, The Goldman Sachs Group raised Sempra from a “neutral” rating to a “buy” rating and lifted their price target for the company from $164.00 to $167.00 in a report on Wednesday, July 6th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy 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 $166.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Toroso Investments LLC lifted its position in Sempra by 42.4% during the 1st quarter. Toroso Investments LLC now owns 5,641 shares of the utilities provider’s stock worth $948,000 after acquiring an additional 1,680 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Sempra by 54.4% in the first quarter. Orion Portfolio Solutions LLC now owns 8,516 shares of the utilities provider’s stock valued at $1,432,000 after acquiring an additional 2,999 shares during the period. Wealthfront Advisers LLC increased its stake in Sempra by 5.8% in the first quarter. Wealthfront Advisers LLC now owns 9,962 shares of the utilities provider’s stock valued at $1,675,000 after acquiring an additional 546 shares during the period. Continuum Advisory LLC bought a new stake in Sempra in the first quarter valued at about $532,000. Finally, Virtu Financial LLC bought a new stake in Sempra in the first quarter valued at about $471,000. 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.