Sempra Energy (NYSE:SRE) to Issue $0.65 Quarterly Dividend

Key Points

• Sempra Energy announced a quarterly dividend of $0.645 per share, with stockholders receiving payments on October 15th.
• The company has a dividend payout ratio of 51.6% and is expected to maintain a future payout ratio of 50.2% based on anticipated earnings.
• Despite a revenue decline of 0.4% year-over-year, Sempra reported earnings of $0.89 per share, exceeding analysts' expectations of $0.82.

Sempra Energy (NYSE:SRE - Get Free Report) announced a quarterly dividend on Wednesday, September 17th, RTT News reports. Stockholders of record on Wednesday, October 1st will be paid a dividend of 0.645 per share by the utilities provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, October 1st.

Sempra Energy has a payout ratio of 51.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sempra Energy to earn $5.14 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 50.2%.

Sempra Energy Stock Up 1.0%

Shares of NYSE SRE traded up $0.79 during midday trading on Friday, reaching $83.27. 9,015,577 shares of the company's stock were exchanged, compared to its average volume of 4,184,208. Sempra Energy has a 52-week low of $61.90 and a 52-week high of $95.77. The stock has a market capitalization of $54.33 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.64 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.41 and a current ratio of 0.48. The business's fifty day moving average price is $81.14 and its two-hundred day moving average price is $76.08.

Sempra Energy (NYSE:SRE - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was down .4% compared to the same quarter last year. Analysts forecast that Sempra Energy will post 4.76 EPS for the current year.

Insider Transactions at Sempra Energy

In other news, EVP Caroline Ann Winn sold 5,114 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $82.01, for a total transaction of $419,399.14. Following the completion of the transaction, the executive vice president directly owned 39,380 shares in the company, valued at approximately $3,229,553.80. The trade was a 11.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $80.00, for a total value of $126,080.00. Following the transaction, the senior vice president owned 15,600 shares of the company's stock, valued at approximately $1,248,000. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,554 shares of company stock worth $2,976,117. Company insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Sempra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC raised its holdings in Sempra Energy by 10.3% during the first quarter. Jacobi Capital Management LLC now owns 5,641 shares of the utilities provider's stock worth $403,000 after purchasing an additional 526 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sempra Energy by 8.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 173,408 shares of the utilities provider's stock worth $12,374,000 after purchasing an additional 13,433 shares in the last quarter. Carrera Capital Advisors raised its holdings in Sempra Energy by 8.0% during the first quarter. Carrera Capital Advisors now owns 49,570 shares of the utilities provider's stock worth $3,569,000 after purchasing an additional 3,677 shares in the last quarter. Inspire Trust Co. N.A. raised its holdings in Sempra Energy by 53.2% during the first quarter. Inspire Trust Co. N.A. now owns 57,000 shares of the utilities provider's stock worth $4,068,000 after purchasing an additional 19,800 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in Sempra Energy by 171.2% during the first quarter. Merit Financial Group LLC now owns 11,107 shares of the utilities provider's stock worth $793,000 after purchasing an additional 7,012 shares in the last quarter. 89.65% of the stock is currently owned by institutional investors and hedge funds.

About Sempra Energy

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.