Aug 9, 2011
Sempra Energy (NYSE:SRE) reported adjusted Q2 EPS of $0.97, missing consensus estimates of $0.98 per share. Revenues for the quarter rose 21% year-over-year to $2.42 billion, topping consensus estimates of $2.18 billion.
The company sees 2011 EPS of $4.00 to $4.30 per share, vs. consensus estimates of $4.20 per share.
Debra L. Reed, chief executive officer of Sempra Energy said, "Through the first half of the year, we are performing well across the board and are on track to meet our 2011 earnings guidance. Our utility and pipeline acquisitions are providing strong contributions to our earnings. We also are making excellent progress on our major California utility projects and our build-out of contracted renewable energy infrastructure."
Sempra Energy has a potential upside of 24.6% based on a current price of $46.03 and an average consensus analyst price target of $57.36.
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