Brokerages Expect Sempra Energy (NYSE:SRE) to Announce $1.47 Earnings Per Share

Brokerages forecast that Sempra Energy (NYSE:SRE) will post earnings of $1.47 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sempra Energy’s earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.52. Sempra Energy posted earnings of $1.50 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2%. The firm is scheduled to report its next earnings report before the market opens on Thursday, November 5th.

According to Zacks, analysts expect that Sempra Energy will report full year earnings of $7.68 per share for the current year, with EPS estimates ranging from $7.50 to $7.89. For the next year, analysts forecast that the firm will report earnings of $8.00 per share, with EPS estimates ranging from $7.80 to $8.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Sempra Energy.

Sempra Energy (NYSE:SRE) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Sempra Energy had a net margin of 38.49% and a return on equity of 11.47%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share.

Several equities research analysts recently commented on SRE shares. Mizuho dropped their target price on Sempra Energy from $137.00 to $119.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. Morgan Stanley lifted their price objective on Sempra Energy from $141.00 to $147.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank of Canada restated a “buy” rating on shares of Sempra Energy in a report on Thursday, July 23rd. Wells Fargo & Company downgraded Sempra Energy from an “overweight” rating to an “equal weight” rating and set a $145.00 price objective on the stock. in a report on Monday, August 17th. They noted that the move was a valuation call. Finally, KeyCorp lifted their price objective on Sempra Energy from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $143.63.

Shares of NYSE:SRE opened at $133.86 on Wednesday. The company has a market cap of $37.02 billion, a P/E ratio of 9.21, a PEG ratio of 2.27 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.77 and a current ratio of 0.80. Sempra Energy has a one year low of $88.00 and a one year high of $161.87. The business’s 50-day simple moving average is $121.82 and its 200 day simple moving average is $123.57.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Friday, September 25th were paid a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Thursday, September 24th. Sempra Energy’s dividend payout ratio is presently 61.65%.

In other news, Director Andres Conesa acquired 2,700 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $129.44 per share, with a total value of $349,488.00. Following the purchase, the director now owns 7,792 shares of the company’s stock, valued at $1,008,596.48. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cynthia Lynn Walker acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was purchased at an average cost of $117.70 per share, for a total transaction of $117,700.00. Following the purchase, the director now directly owns 4,636 shares in the company, valued at approximately $545,657.20. The disclosure for this purchase can be found here. Insiders bought a total of 7,700 shares of company stock worth $981,768 in the last three months. Company insiders own 0.09% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Smith Graham & Co. Investment Advisors LP raised its position in shares of Sempra Energy by 0.3% during the second quarter. Smith Graham & Co. Investment Advisors LP now owns 25,295 shares of the utilities provider’s stock worth $2,965,000 after purchasing an additional 82 shares during the period. Ziegler Capital Management LLC raised its position in shares of Sempra Energy by 3.1% during the second quarter. Ziegler Capital Management LLC now owns 3,020 shares of the utilities provider’s stock worth $354,000 after purchasing an additional 90 shares during the period. Cornerstone Advisors Inc. raised its position in shares of Sempra Energy by 8.9% during the second quarter. Cornerstone Advisors Inc. now owns 1,109 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 91 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Sempra Energy by 0.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,741 shares of the utilities provider’s stock worth $3,018,000 after purchasing an additional 93 shares during the period. Finally, TCI Wealth Advisors Inc. raised its position in shares of Sempra Energy by 10.3% during the second quarter. TCI Wealth Advisors Inc. now owns 1,053 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 98 shares during the period. 84.97% of the stock is currently owned by institutional investors.

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.

Recommended Story: Book Value Of Equity Per Share – BVPS Explained

Get a free copy of the Zacks research report on Sempra Energy (SRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sempra Energy (NYSE:SRE)

Receive News & Ratings for Sempra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sempra Energy and related companies with MarketBeat.com's FREE daily email newsletter.