Peter R. Wall, the Senior Vice President, Controller, and Chief Accounting Officer at Sempra (NYSE:SRE), recently sold 3,923 shares of the company’s common stock. The transaction, dated January 23, 2025, was executed at an average price of $83.01 per share, resulting in a total sale value of approximately $325,648. The sale comes as Sempra, a $52.5 billion utility company, maintains a "Fair" financial health score according to InvestingPro analysis. Following this sale, Wall retains ownership of 11,866.59 shares in the company. The sale was conducted under a prearranged trading plan, as indicated in the filing. Notably, Sempra has maintained dividend payments for 27 consecutive years and currently carries a consensus "Buy" rating from analysts. InvestingPro subscribers can access additional insights through the comprehensive Pro Research Report, which includes detailed analysis of Sempra’s valuation metrics and growth prospects.
In other recent news, Sempra Energy ’s subsidiaries, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), have been approved by the California Public Utilities Commission for a 7.5% and 9.3% increase in their revenue requirements for 2024, respectively. The companies are also permitted to recover costs for specific projects and programs, subject to further approval. These include wildfire mitigation and pipeline safety enhancement plans, with decisions on cost recovery expected in the first half of 2025.
In addition, Sempra Energy has recently disclosed its financial results for the third quarter of 2024. The earnings call was led by Chairman and CEO Jeff Martin and CFO Karen Sedgwick, who acknowledged potential discrepancies between projected and actual results due to factors outlined in SEC filings.
Furthermore, Sempra Energy has been upgraded to an Overweight rating from an Equalweight status by Morgan Stanley (NYSE:MS). The upgrade aligns with the upward revision of earnings estimates by seven analysts, citing Sempra Energy’s strong positioning in Texas and expected policy support for liquefied natural gas infrastructure assets. These recent developments provide crucial information for investors, shedding light on Sempra Energy’s progress in a competitive and regulatory environment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.