Sempra Energy (NYSE:SRE) Issues Earnings Results

Sempra Energy (NYSE:SRE) issued its quarterly earnings data on Wednesday. The utilities provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.27, Zacks reports. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis.

Sempra Energy Trading Up 0.5%

Shares of SRE stock traded up $0.42 on Friday, reaching $93.20. 2,019,488 shares of the company’s stock were exchanged, compared to its average volume of 4,334,480. Sempra Energy has a 52 week low of $61.90 and a 52 week high of $95.77. The company has a current ratio of 0.48, a quick ratio of 0.41 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $60.81 billion, a PE ratio of 22.51, a P/E/G ratio of 2.84 and a beta of 0.68. The company’s fifty day simple moving average is $88.21 and its 200 day simple moving average is $81.16.

Sempra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Thursday, December 11th will be issued a $0.645 dividend. This represents a $2.58 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, December 11th. Sempra Energy’s dividend payout ratio is presently 62.32%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SRE shares. Jefferies Financial Group set a $89.00 price objective on shares of Sempra Energy and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. BTIG Research raised shares of Sempra Energy to a “strong-buy” rating in a report on Wednesday, October 22nd. Barclays reduced their price objective on Sempra Energy from $101.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday. Evercore ISI set a $105.00 price objective on Sempra Energy and gave the company an “outperform” rating in a research report on Monday, October 6th. Finally, BMO Capital Markets lifted their target price on Sempra Energy from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.42.

Insiders Place Their Bets

In other news, Director Kevin C. Sagara sold 14,433 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $89.50, for a total value of $1,291,753.50. Following the transaction, the director directly owned 1,042 shares in the company, valued at approximately $93,259. This represents a 93.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Caroline Ann Winn sold 5,114 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $82.01, for a total transaction of $419,399.14. Following the completion of the sale, the executive vice president directly owned 39,380 shares of the company’s stock, valued at approximately $3,229,553.80. This trade represents a 11.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,411 shares of company stock worth $4,141,790. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Sempra Energy

A number of institutional investors have recently modified their holdings of SRE. Empowered Funds LLC raised its stake in shares of Sempra Energy by 52.5% during the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider’s stock valued at $1,285,000 after acquiring an additional 6,196 shares in the last quarter. Woodline Partners LP increased its holdings in Sempra Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider’s stock worth $3,819,000 after purchasing an additional 15,474 shares during the period. Baird Financial Group Inc. raised its position in Sempra Energy by 6.2% during the 2nd quarter. Baird Financial Group Inc. now owns 14,699 shares of the utilities provider’s stock valued at $1,114,000 after purchasing an additional 858 shares in the last quarter. Cary Street Partners Financial LLC lifted its holdings in shares of Sempra Energy by 78.5% in the 2nd quarter. Cary Street Partners Financial LLC now owns 771 shares of the utilities provider’s stock worth $58,000 after buying an additional 339 shares during the period. Finally, Sei Investments Co. grew its position in shares of Sempra Energy by 80.0% during the 2nd quarter. Sei Investments Co. now owns 423,280 shares of the utilities provider’s stock worth $32,072,000 after buying an additional 188,131 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Sempra Energy Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.