Company Update (NYSE:SRE): Sempra Energy Announces First-Quarter 2016 Financial Results

[PR Newswire] – SAN DIEGO, May 4, 2016 /PRNewswire/ — Sempra Energy (NYSE: SRE) today reported first-quarter 2016 earnings of $319 million, or $1.27 per diluted share, compared with $437 million, or $1.74 per diluted … Read more on this. Sempra Energy (SRE) , with a current market cap of $26.42B, opened at $104.41. Shares have traded today between $103.81 and $106.91 per share with its 52-week range being $86.72 to $108.44. SRE shares are currently priced at 21.02x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 17.10x earnings multiple for the same period. The company pays shareholders $3.02 per share annually in dividends, yielding 2.92%. Consensus earnings for the current quarter by the 10 sell-side analysts covering the stock is an estimate of $1.66 per share, which would be $0.05 worse than the year-ago quarter and a $0.20 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.99 would be a $0.22 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.05 Billion. If realized, that would be a 13.81% increase over the year-ago quarter. Recently, UBS Initiated SRE at Buy (Apr 14, 2014). Previously, Barclays upgraded SRE from Equal Weight to Overweight. The average price target for SRE shares by the analysts covering it is $114.33, which is 9.50% above where the stock opened. See more in (NYSE:SRE) Similar Articles: Stock Update (NYSE:SRE): Sempra Energy To Report First-Quarter 2016 Earnings May 4 Company Update: Sempra Energy (NYSE:SRE) – SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Sempra Energy of Commencement of Class Action Lawsuit and a Lead Plaintiff Deadline of May 2, 2016 – SRE Company Update: Sempra Energy (NYSE:SRE) – INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Sempra Energy of Class Action Lawsuit and a Lead Plaintiff Deadline of May 2, 2016 — SRE