Zacks: Analysts Expect Sempra Energy (NYSE:SRE) Will Post Quarterly Sales of $3.20 Billion

Equities analysts expect Sempra Energy (NYSE:SRE) to announce sales of $3.20 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Sempra Energy’s earnings. The highest sales estimate is $3.35 billion and the lowest is $3.05 billion. Sempra Energy reported sales of $3.17 billion during the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, February 24th.

According to Zacks, analysts expect that Sempra Energy will report full year sales of $11.93 billion for the current fiscal year, with estimates ranging from $11.76 billion to $12.20 billion. For the next financial year, analysts forecast that the business will post sales of $12.55 billion, with estimates ranging from $12.36 billion to $12.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Sempra Energy.

Sempra Energy (NYSE:SRE) last posted its quarterly earnings data on Friday, November 5th. The utilities provider reported $1.70 earnings per share for the quarter, hitting the consensus estimate of $1.70. Sempra Energy had a return on equity of 10.67% and a net margin of 9.38%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year.

SRE has been the subject of several research analyst reports. Mizuho cut their price objective on Sempra Energy from $154.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday, October 19th. Morgan Stanley cut their price objective on Sempra Energy from $155.00 to $149.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 19th. The Goldman Sachs Group cut Sempra Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, October 12th. Wells Fargo & Company upped their price target on Sempra Energy from $143.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, November 8th. Finally, KeyCorp upped their price target on Sempra Energy from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, October 19th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.71.

NYSE SRE opened at $125.53 on Monday. Sempra Energy has a twelve month low of $114.66 and a twelve month high of $144.93. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.33 and a current ratio of 0.35. The stock has a market capitalization of $40.09 billion, a PE ratio of 34.49, a P/E/G ratio of 3.02 and a beta of 0.63. The stock has a 50-day simple moving average of $127.34 and a 200 day simple moving average of $132.02.

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Thursday, December 23rd will be issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, December 22nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.51%. Sempra Energy’s payout ratio is presently 120.88%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Sempra Energy by 2.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 27,107,579 shares of the utilities provider’s stock worth $3,591,212,000 after buying an additional 669,256 shares in the last quarter. BlackRock Inc. grew its position in Sempra Energy by 3.8% during the 3rd quarter. BlackRock Inc. now owns 26,892,077 shares of the utilities provider’s stock worth $3,401,849,000 after acquiring an additional 973,779 shares during the last quarter. Vanguard Group Inc. grew its position in Sempra Energy by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 26,807,489 shares of the utilities provider’s stock worth $3,551,456,000 after acquiring an additional 1,309,657 shares during the last quarter. Capital International Investors grew its position in Sempra Energy by 5.1% during the 2nd quarter. Capital International Investors now owns 21,204,607 shares of the utilities provider’s stock worth $2,809,426,000 after acquiring an additional 1,031,672 shares during the last quarter. Finally, State Street Corp grew its position in Sempra Energy by 4.6% during the 2nd quarter. State Street Corp now owns 16,911,861 shares of the utilities provider’s stock worth $2,240,483,000 after acquiring an additional 748,608 shares during the last quarter. 83.10% of the stock is owned by institutional investors and hedge funds.

Sempra Energy Company Profile

Sempra Energy is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: San Diego Gas and Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Texas Utilities, Sempra Mexico, and Sempra LNG.

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

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