Sempra Energy (NYSE:SRE) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Sempra Energy (NYSE:SRE) announced its earnings results on Friday. The utilities provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.09), RTT News reports. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.32 billion. Sempra Energy had a return on equity of 10.57% and a net margin of 9.89%. During the same period in the previous year, the firm posted $1.35 EPS. Sempra Energy updated its FY 2019 guidance to $5.70-6.30 EPS and its FY19 guidance to $5.70-6.30 EPS.

Shares of SRE stock remained flat at $$135.68 during midday trading on Friday. 1,372,628 shares of the company traded hands, compared to its average volume of 1,205,014. The stock has a market capitalization of $37.16 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.91 and a beta of 0.45. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.36 and a current ratio of 0.38. The stock’s 50 day simple moving average is $138.82. Sempra Energy has a 1-year low of $104.88 and a 1-year high of $141.86.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, July 5th were issued a dividend of $0.9675 per share. This represents a $3.87 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Wednesday, July 3rd. Sempra Energy’s payout ratio is 69.48%.

In other Sempra Energy news, insider Joseph A. Householder sold 50,400 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $134.80, for a total value of $6,793,920.00. Following the completion of the sale, the insider now owns 55,115 shares of the company’s stock, valued at approximately $7,429,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter R. Wall sold 723 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $135.47, for a total transaction of $97,944.81. Following the completion of the sale, the chief accounting officer now directly owns 2,359 shares of the company’s stock, valued at approximately $319,573.73. The disclosure for this sale can be found here. Insiders have sold a total of 60,515 shares of company stock valued at $8,148,984 in the last ninety days. 0.13% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SRE. Global Retirement Partners LLC boosted its holdings in Sempra Energy by 35.0% in the 1st quarter. Global Retirement Partners LLC now owns 324 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Westside Investment Management Inc. bought a new stake in Sempra Energy in the 2nd quarter valued at about $41,000. WP Advisors LLC bought a new stake in Sempra Energy in the 1st quarter valued at about $46,000. Harvest Group Wealth Management LLC bought a new stake in Sempra Energy in the 1st quarter valued at about $51,000. Finally, NuWave Investment Management LLC bought a new stake in Sempra Energy in the 2nd quarter valued at about $52,000. 97.00% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on SRE shares. ValuEngine downgraded shares of Sempra Energy from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America downgraded shares of Sempra Energy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $141.00 to $142.00 in a report on Thursday, June 27th. Argus lifted their target price on shares of Sempra Energy to $142.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on shares of Sempra Energy from $132.00 to $142.00 and gave the stock an “equal weight” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co lifted their target price on shares of Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $142.43.

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 generates, transmits, and distributes electricity; and supplies natural gas.

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Earnings History for Sempra Energy (NYSE:SRE)

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