Analyst Consensus ?
ConsensusBuy24 ratings
Bullish2083.3%
Neutral416.7%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Sempra · SRE · FY2025 Q4 · Calendar Q1 2026
Sempra beats Q4 EPS, posts record FY2025 and lifts capex plan to $65B
Sempra is consolidating around a ~95% regulated utility portfolio led by Texas transmission, where oncor load growth is supported by data-center and Permian demand growth. The $65B 2026-2030 capital plan, the $10B Infrastructure Partners divestiture, and reaffirmed EPS guidance underpin a long-term earnings and dividend trajectory, provided the Texas rate case and California regulatory proceedings resolve in line with management's expectations.
Reported Before market openNYSEUtilities
$50.82B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.28
Consensus $1.24
EPS surprise
+3.2%
Reported versus consensus
Reported revenue
$3.75B
Consensus $4.05B
Revenue surprise
-7.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.7%
Event window
SPY move
-0.6%
Same window
Abnormal move
+1.3%
Stock minus SPY
Volume
1.1×
Versus trailing sessions
Subsequent drift
+0.4%
Up to 20 sessions
SRESPY benchmark
Ask FN2 about SRE FY2025 Q4
Transcript, numbers and history already loaded
Why did SRE rise 0.7% after beating EPS estimates in FY2025 Q4?What changed in SRE's guidance and outlook in FY2025 Q4?Give me the bull and bear case for SRE after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Sempra reported above-consensus Q4 EPS as its reassignment to higher utility exposure and larger Texas transmission plan came into focus. Management's 2026-2030 capital plan was confirmed at $65B (up ~17% from the prior plan and from an earlier $55-60B Texas outlook in the Q3 call), funded in part by the $10B partial sale of Sempra Infrastructure Partners. Guidance for 2026 was reaffirmed and EPS ranges for 2027 and 2030 were expanded.
Guidance delta
Maintained / reaffirmed: management affirmed 2026 EPS guidance and expanded EPS ranges for 2027 and 2030, citing strong cash-flow generation from a shift toward a more regulated, ~95% utility portfolio.
Key takeaways
- Record FY2025 adjusted EPS of $4.69, landing at the high end of management guidance
- Q4 EPS of $1.28 beat the $1.24 consensus (+3.2%); revenue of $3.75B missed the $4.05B estimate (-7.4%)
- Announced a $65B 2026-2030 capital plan, a 17% increase over the prior plan, with ~95% directed to utilities and a Texas transmission emphasis
- Identified $9B of upside capex opportunities, primarily Oncor transmission projects
- Sale of a 45% stake in Sempra Infrastructure Partners for $10B to close in 2026, providing liquidity and reducing balance-sheet risk
Management priorities
- Execute the $65B capital plan with a focus on Texas transmission projects
- Complete the sale of the 45% stake in Sempra Infrastructure Partners in 2026
- Bring Port Arthur LNG Phase 2 to commercial operation and achieve COD for ECA LNG Phase 1 by 2027
- Maintain a 2-4% annual dividend growth target
- Provide more visibility into California regulatory progress, including potential analyst day updates
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$77.55Current
$36.25Low
$86.38Average
$118High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 18, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 3, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Sep 2, 2026 |
| Jefferies | Buy | Hold | Upgrade | Sep 1, 2026 |
| Mizuho | Neutral | Outperform | Downgrade | Aug 31, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Mar 23, 2026 |
| UBS | Neutral | Neutral | Maintain | Mar 6, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Mar 5, 2026 |
| Argus Research | Buy | Hold | Upgrade | Mar 4, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Nov 24, 2025 |
| Goldman Sachs | Buy | Neutral | Upgrade | Nov 14, 2025 |
| Guggenheim | Buy | Buy | Maintain | Feb 26, 2025 |
| Ladenburg Thalmann | Buy | Buy | Maintain | May 29, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Mar 6, 2024 |
| B of A Securities | Buy | Buy | Maintain | Mar 28, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 26, 2022 |
| Keybanc | Overweight | Downgrade | Mar 7, 2022 | |
| Seaport Global | Neutral | Buy | Downgrade | Apr 7, 2021 |
| CFRA | Strong Buy | Buy | Upgrade | Mar 18, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Oct 11, 2018 |
| Argus | Buy | Hold | Upgrade | May 21, 2018 |
| ISI Group | Buy | Neutral | Upgrade | Jun 9, 2014 |
| Bank oferica | Buy | Buy | Maintain | May 4, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $77.55. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Richard Sunderland | $96 | $83.8 | +23.8% | Sep 3, 2026 |
| Jefferies | Analyst unavailable | $97 | $81.7 | +25.1% | Sep 1, 2026 |
| Mizuho Securities | Analyst unavailable | $84 | $84.32 | +8.3% | Aug 31, 2026 |
| Truist Financial | Analyst unavailable | $100 | $86.53 | +28.9% | Aug 13, 2026 |
| Morgan Stanley | David Arcaro | $108 | $92.88 | +39.3% | Jul 22, 2026 |
| BMO Capital | Analyst unavailable | $102 | $92.79 | +31.5% | Jul 22, 2026 |
| Jefferies | Analyst unavailable | $101 | $92.78 | +30.2% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $103 | $95.15 | +32.8% | Jul 9, 2026 |
| Morgan Stanley | Analyst unavailable | $105 | $91.9 | +35.4% | Jun 24, 2026 |
| Truist Financial | Analyst unavailable | $104 | $90.43 | +34.1% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $104 | $93.27 | +34.1% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $118 | $93.38 | +52.2% | Apr 21, 2026 |
| Truist Financial | Richard Sunderland | $108 | $93.38 | +39.3% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $105 | $96.16 | +35.4% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $101 | $93.34 | +30.2% | Feb 20, 2026 |
| Barclays | Nicholas Campanella | $95 | $86.22 | +22.5% | Feb 3, 2026 |
| Morgan Stanley | David Arcaro | $97 | $86.8 | +25.1% | Feb 2, 2026 |
| UBS | Analyst unavailable | $100 | $85.98 | +28.9% | Jan 22, 2026 |
| UBS | Analyst unavailable | $92 | $85.98 | +18.6% | Jan 22, 2026 |
| Barclays | Nicholas Campanella | $97 | $85.98 | +25.1% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $84.89 | +22.5% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $112 | $92.55 | +44.4% | Jan 20, 2026 |
| UBS | Analyst unavailable | $96 | $87.91 | +23.8% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $91 | $88.57 | +17.3% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $98 | $91.12 | +26.4% | Nov 20, 2025 |
| Wells Fargo | Analyst unavailable | $115 | $93.17 | +48.3% | Oct 27, 2025 |
| Morgan Stanley | David Arcaro | $99 | $91.88 | +27.7% | Oct 22, 2025 |
| BMO Capital | James Thalacker | $99 | $92.29 | +27.7% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $89 | $92.29 | +14.8% | Oct 22, 2025 |
| BTIG | Analyst unavailable | $106 | $92.29 | +36.7% | Oct 21, 2025 |
| Barclays | Analyst unavailable | $101 | $91.29 | +30.2% | Oct 20, 2025 |
| Evercore ISI | Analyst unavailable | $105 | $92.46 | +35.4% | Oct 6, 2025 |
| Barclays | Analyst unavailable | $80 | $81.72 | +3.2% | Aug 26, 2025 |
| Barclays | Nicholas Campanella | $71 | $74.9 | -8.4% | Jul 10, 2025 |
| Morgan Stanley | David Arcaro | $87 | $76.75 | +12.2% | May 22, 2025 |
| Morgan Stanley | David Arcaro | $89 | $73.31 | +14.8% | Apr 23, 2025 |
| Jefferies | Julien Dumoulin-Smith | $75 | $69.73 | -3.3% | Apr 14, 2025 |
| Morgan Stanley | Analyst unavailable | $86 | $70 | +10.9% | Mar 20, 2025 |
| Jefferies | Julian Dumoulin-Smith | $98 | $85.96 | +26.4% | Oct 24, 2024 |
| BMO Capital | James Thalacker | $96 | $84.83 | +23.8% | Oct 21, 2024 |
| Mizuho Securities | Anthony Crowdell | $93 | $84.83 | +19.9% | Oct 21, 2024 |
| Barclays | Nicholas Campanella | $89 | $83.63 | +14.8% | Oct 1, 2024 |
| Morgan Stanley | David Arcaro | $85 | $83.02 | +9.6% | Sep 25, 2024 |
| BMO Capital | James Thalacker | $93 | $81.37 | +19.9% | Sep 12, 2024 |
| Morgan Stanley | David Arcaro | $80 | $81.67 | +3.2% | Aug 23, 2024 |
| Mizuho Securities | Anthony Crowdell | $88 | $79.96 | +13.5% | Aug 16, 2024 |
| Barclays | Nicholas Campanella | $87 | $78.99 | +12.2% | Aug 13, 2024 |
| BMO Capital | James Thalacker | $90 | $77.57 | +16.1% | Aug 9, 2024 |
| Mizuho Securities | Anthony Crowdell | $86 | $77.67 | +10.9% | May 17, 2024 |
| Mizuho Securities | Anthony Crowdell | $79 | $70.97 | +1.9% | Apr 4, 2024 |
| Barclays | Eric Beaumont | $77 | $71.96 | -0.7% | Feb 22, 2024 |
| Raymond James | James Thalacker | $84 | $74.8 | +8.3% | Jan 11, 2024 |
| BMO Capital | James Thalacker | $84 | $74.84 | +8.3% | Jan 11, 2024 |
| J.P. Morgan | Christopher Turnure | $86 | $76.01 | +10.9% | Jan 4, 2024 |
| Barclays | Eric Beaumont | $76 | $70.12 | -2.0% | Nov 1, 2023 |
| Barclays | Eric Beaumont | $156 | $70.3 | +101.2% | Oct 19, 2023 |
| Citigroup | Analyst unavailable | $42.75 | $41.21 | -44.9% | Apr 28, 2022 |
| Credit Suisse | Analyst unavailable | $45 | $41.34 | -42.0% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $42 | $43.12 | -45.8% | Apr 20, 2022 |
| RBC Capital | Shelby Tucker | $39.5 | $32.68 | -49.1% | Jan 24, 2022 |
| Vertical Research | Jonathan Arnold | $39.5 | $34.18 | -49.1% | Jan 10, 2022 |
| Wells Fargo | Sarah Akers | $36.25 | $30.9 | -53.3% | Nov 8, 2021 |
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Start freeCompany context
Snapshot as of publicationSempra, an energy holding company founded in 1998 and headquartered in San Diego, California, conducts its operations both domestically and internationally. The firm adopted its current name in July 2021, having previously been known as Sempra Energy. Through its San Diego Gas & Electric Company division, Sempra delivers electricity to approximately 3.6 million individuals and natural gas to roughly 3.3 million individuals across a 4,100 square mile service area.…
Historical context
All SRE earningsLatest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-25T12:31:15.208118+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-25T12:31:15.205245+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-25. For educational purposes only; not investment advice.