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Sempra Energy ($SRE) Stock Forecast: Up 2.2% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is Sempra Energy?

Sempra Energy (SRE), a player in the energy sector, providing electricity, natural gas, and other energy services, witnessed a significant bullish movement in the market today.

Why is Sempra Energy going up?

SRE stock is up 2.2% on May 8, 2024 14:46

  • Sempra Energy (SRE) posted earnings per share of $1.34 for Q1 2024, surpassing analyst predictions slightly.
  • The company fell short of revenue expectations by 34.77%, recording $3.64 billion as opposed to the anticipated $5.58 billion.
  • Despite the revenue shortfall, the market appeared to respond positively to the earnings per share outperformance, demonstrating confidence in the company's profitability.
  • Investors seemed buoyed by the company's ability to exceed profit forecasts even amidst lower revenue, potentially indicating successful cost-cutting measures and operational effectiveness.

SRE Price Chart

SRE News

SRE Stock Earnings: Sempra Energy Beats EPS, Misses Revenue for Q1 2024

Sempra Energy (NYSE:SRE) just reported results for the first quarter of 2024. Sempra Energy reported earnings per share of $1.34. This was above the analyst estimate for EPS of $1.33. The company reported revenue of $3.64 billion. This was 34.77% worse than the analyst estimate for revenue of $5.58 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/05/sre-stock-earnings-sempra-energy-for-q1-of-2024/

News Article Image SRE Stock Earnings: Sempra Energy Beats EPS, Misses Revenue for Q1 2024

Sempra ( SRE ) Misses Q1 Earnings and Revenue Estimates

Sempra (SRE) delivered earnings and revenue surprises of -0.74% and 41.04%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2269486/sempra-sre-misses-q1-earnings-and-revenue-estimates

News Article Image Sempra  ( SRE )  Misses Q1 Earnings and Revenue Estimates

Sempra Energy Q1 Profit Decreases, but beats estimates

WASHINGTON (dpa-AFX) - Sempra Energy (SRE) released a profit for first quarter that decreased from last year but beat the Street estimates.The company''s bottom line totaled $801 million, or $1.26 …

https://www.finanznachrichten.de/nachrichten-2024-05/62160503-sempra-energy-q1-profit-decreases-but-beats-estimates-020.htm

News Article Image Sempra Energy Q1 Profit Decreases, but beats estimates

Sempra Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street''s Most Accurate Analysts

Sempra (NYSE: SRE ) is set to release earnings results for its first quarter before the opening bell on May 7, 2024 . Analysts expect the San Diego, California-based company to report quarterly earnings at $1.34 per share, down from $1.46 per share in the year-ago period. Sempra is projected to report quarterly revenue of $5.58 billion, compared to $6.56 billion a year-earlier, according to data from Benzinga Pro . On Feb. 27, Sempra Energy posted better-than-expected quarterly earnings. Sempra shares fell 0.3% to close at $72.71 on Monday. Benzinga readers can access … Full story available on Benzinga.com

https://www.benzinga.com/news/earnings/24/05/38661510/sempra-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets-mo

News Article Image Sempra Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street''s Most Accurate Analysts

What's in the Cards for Sempra ( SRE ) This Earnings Season?

Sempra Energy's (SRE) first-quarter results are likely to reflect the benefits of favorable returns from investments and cost-saving initiatives amid the adverse impacts of increased transportation tariff.

https://www.zacks.com/stock/news/2267966/whats-in-the-cards-for-sempra-sre-this-earnings-season

News Article Image What's in the Cards for Sempra  ( SRE )  This Earnings Season?

Sempra Energy Price History

08.04.2024 - SRE Stock was up 2.2%

  • Sempra Energy (SRE) posted earnings per share of $1.34 for Q1 2024, surpassing analyst predictions slightly.
  • The company fell short of revenue expectations by 34.77%, recording $3.64 billion as opposed to the anticipated $5.58 billion.
  • Despite the revenue shortfall, the market appeared to respond positively to the earnings per share outperformance, demonstrating confidence in the company's profitability.
  • Investors seemed buoyed by the company's ability to exceed profit forecasts even amidst lower revenue, potentially indicating successful cost-cutting measures and operational effectiveness.

03.09.2023 - SRE Stock was down 5.2%

  • The article highlights the strong fundamentals of utilities stocks, including their natural monopoly and the lack of competition.
  • Despite these advantages, SRE's bearish movement suggests that investors may have concerns about the company's performance or future prospects.
  • It is possible that market participants are reassessing the value of SRE in light of changing market conditions or specific news related to the company.
  • The bearish movement could also be influenced by broader market trends or investor sentiment towards the utility sector.

22.07.2023 - SRE Stock was down 49.6%

  • The bearish movement in SRE's stock today could be attributed to the increase in short interest, indicating a higher number of traders betting on the stock's price decline.
  • The appointment of Richard Mark to Sempra Energy's board, although positive news, may not have had a significant impact on the stock's movement today.
  • The short interest suggests that traders have a pessimistic outlook on SRE, potentially due to factors such as market conditions or company-specific concerns.
  • It is important to monitor the stock's performance and any further developments that may impact its trajectory.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.

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Date
May 8, 2024 14:46
Content
Sempra Energy ($SRE) Stock Forecast: Up 2.2% Today What is Sempra Energy? Why is Sempra Energy going up? SRE SRE Price Chart SRE News Trending Today Sempra Energy Price History 08.04.2024 - SRE Stock was up 2.2%03.09.2023 - SRE Stock was down 5.2%22.07.2023 - SRE Stock was down 49.6%