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Stock Update: Sempra Energy (NYSE:SRE) – Sempra Energy Declares Common Dividend

[PR Newswire] – SAN DIEGO, June 14, 2016 /PRNewswire/ — The board of directors of Sempra Energy (SRE) today declared a quarterly dividend of $0.755 per share of common stock. The current dividend is payable July 15, 2016, to shareholders of record on June 30, 2016. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2015 revenues of more than $10 billion. The Sempra Energy companies’ 17,000 employees serve more than 32 million consumers worldwide. This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words like “believes,” “expects,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” “contemplates,” “intends,” “assumes,” “depends,” “should,” “could,” “would,” “will,” “confident,” “may,” “potential,” “possible,” “proposed,” “target,” “pursue,” “goals,” “outlook,” “maintain,” or similar expressions or discussions of guidance, strategies, plans, goals, opportunities, projections, initiatives, objectives or intentions. Read more on this. Sempra Energy (SRE) , with a current market cap of $27.33B, started the session at $109.40. Today, shares have traded between $108.91 and $109.96 per share with a one year range of $86.72 to $110.27. SRE shares are currently priced at 22.46x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.35x earnings multiple for the same period. The company pays shareholders $3.02 per share annually in dividends, yielding 2.76%. According to a consensus of 7 analysts, the earnings estimate of $0.98 per share would be $0.05 worse than the year-ago quarter and a $0.05 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $4.87 is a $0.34 worse 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 $2.68 Billion. If realized, that would be a 13.08% 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 the stock is $113.73, which is 3.96% above where the stock opened this morning. See more in (NYSE:SRE) Similar Articles: Company Update: Sempra Energy (NYSE:SRE) – Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Sempra Energy of Class Action Lawsuit and Upcoming Deadline – SRE Market Update (NYSE:SRE): Sempra Energy Raises Annualized Dividend By 8 Percent Market Update (NYSE:SRE): Sempra Energy Declares Common Dividend
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