Sempra Energy (NYSE:SRE) Updates FY 2019 Earnings Guidance

Sempra Energy (NYSE:SRE) updated its FY 2019 earnings guidance on Friday. The company provided earnings per share guidance of $5.70-6.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.06. Sempra Energy also updated its FY19 guidance to $5.70-6.30 EPS.

Several research firms have recently issued reports on SRE. Zacks Investment Research cut shares of Sempra Energy from a hold rating to a sell rating and set a $147.00 price objective for the company. in a research report on Wednesday, July 24th. Bank of America cut shares of Sempra Energy from a buy rating to a neutral rating and lifted their price objective for the stock from $141.00 to $142.00 in a research report on Thursday, June 27th. KeyCorp began coverage on shares of Sempra Energy in a research report on Tuesday, June 4th. They set an overweight rating and a $151.00 price objective for the company. Argus lifted their price objective on shares of Sempra Energy to $142.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley lifted their price objective on shares of Sempra Energy from $132.00 to $142.00 and gave the stock an equal weight rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $142.43.

SRE remained flat at $$135.68 on Friday. 1,372,628 shares of the company were exchanged, compared to its average volume of 1,331,021. Sempra Energy has a 52-week low of $104.88 and a 52-week high of $141.86. The stock has a market capitalization of $37.23 billion, a P/E ratio of 24.36, a PEG ratio of 2.92 and a beta of 0.45. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $138.82.

Sempra Energy (NYSE:SRE) last announced its quarterly earnings results on Friday, August 2nd. The utilities provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.09). Sempra Energy had a net margin of 9.89% and a return on equity of 10.57%. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm earned $1.35 earnings per share. As a group, analysts forecast that Sempra Energy will post 6.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, July 5th were given a $0.9675 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $3.87 dividend on an annualized basis and a yield of 2.85%. Sempra Energy’s dividend payout ratio (DPR) is presently 69.48%.

In related news, insider Joseph A. Householder sold 50,400 shares of the business’s stock in a transaction on 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 directly owns 55,115 shares of the company’s stock, valued at $7,429,502. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey W. Martin sold 9,392 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $133.85, for a total transaction of $1,257,119.20. Following the completion of the sale, the chairman now directly owns 36,403 shares of the company’s stock, valued at $4,872,541.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,515 shares of company stock valued at $8,148,984. 0.13% of the stock is owned by corporate insiders.

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

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