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. Its Southern California Gas Company segment owns and operates a natural gas distribution, transmission, and storage system that supplies natural gas to a population of approximately 22 million covering an area of 24,000 square miles. The company's Sempra Texas Utilities segment engages in the regulated transmission and distribution of electricity serving 3.8 million homes and businesses, and operation of 140,000 miles of transmission and distribution lines. Its transmission system includes 18,249 circuit miles of transmission lines, a total of 1,174 transmission and distribution substations, and interconnection to 130 third-party generation facilities totaling 45,403 megawatts. The company was formerly known as Sempra Energy and changed its name to Sempra in July 2021. Sempra was founded in 1998 and is headquartered in San Diego, California.
Analyst Ratings Changes
A number of equities analysts have weighed in on SRE shares. Citigroup increased their target price on shares of Sempra from $142.00 to $171.00 in a research report on Thursday, April 28th. Credit Suisse Group initiated coverage on shares of Sempra in a report on Monday, April 25th. They issued an "outperform" rating and a $180.00 price target on the stock. Bank of America raised shares of Sempra from a "neutral" rating to a "buy" rating in a report on Thursday, July 14th. Barclays lowered their price target on shares of Sempra from $186.00 to $176.00 and set an "overweight" rating on the stock in a report on Monday, July 18th. Finally, Morgan Stanley increased their price target on shares of Sempra from $152.00 to $160.00 and gave the stock an "equal weight" rating in a report on Thursday, July 21st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Sempra has an average rating of "Moderate Buy" and a consensus target price of $166.22.
Sempra Trading Up 1.0 %
Shares of SRE opened at $162.55 on Wednesday. The firm's 50 day simple moving average is $153.36 and its 200 day simple moving average is $154.39. The company has a market capitalization of $51.09 billion, a P/E ratio of 45.53, a P/E/G ratio of 3.24 and a beta of 0.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.73. Sempra has a 1-year low of $119.56 and a 1-year high of $173.28.
Sempra (NYSE:SRE - Get Rating) last announced its earnings results on Thursday, August 4th. The utilities provider reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.23. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3 billion. Sempra had a net margin of 8.84% and a return on equity of 11.01%. Sempra's quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm posted $1.63 earnings per share. Sell-side analysts forecast that Sempra will post 8.55 earnings per share for the current fiscal year.
Sempra Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, July 7th were given a dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Wednesday, July 6th. Sempra's payout ratio is currently 128.29%.