Sempra Energy Announces Quarterly Dividend of $0.90 (SRE)

Sempra Energy (NYSE:SRE) announced a quarterly dividend on Thursday, September 6th, RTT News reports. Shareholders of record on Friday, September 21st will be paid a dividend of 0.895 per share by the utilities provider on Monday, October 15th. This represents a $3.58 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 20th.

Sempra Energy has raised its dividend by an average of 7.3% annually over the last three years and has raised its dividend every year for the last 7 years. Sempra Energy has a payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sempra Energy to earn $6.08 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 58.9%.

Shares of SRE opened at $118.73 on Friday. Sempra Energy has a 52-week low of $100.49 and a 52-week high of $127.22. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 2.73 and a beta of 0.39. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.58 and a quick ratio of 0.54.

Sempra Energy (NYSE:SRE) last issued its earnings results on Monday, August 6th. The utilities provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.17. Sempra Energy had a positive return on equity of 8.69% and a negative net margin of 5.89%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. sell-side analysts forecast that Sempra Energy will post 5.43 EPS for the current fiscal year.

A number of brokerages have issued reports on SRE. Bank of America raised their target price on Sempra Energy from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 12th. Argus raised their target price on Sempra Energy to $130.00 and gave the stock a “buy” rating in a research note on Monday, July 9th. ValuEngine downgraded Sempra Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 18th. Morgan Stanley reissued an “equal weight” rating on shares of Sempra Energy in a research report on Friday, August 17th. Finally, JPMorgan Chase & Co. set a $110.00 price objective on Sempra Energy and gave the stock a “hold” rating in a research report on Monday, July 30th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $123.22.

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 engages in the generation, transmission, and distribution of electricity.

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Dividend History for Sempra Energy (NYSE:SRE)

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