Analyst Consensus ?
ConsensusBuy24 ratings
Bullish2083.3%
Neutral416.7%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Sempra · SRE · FY2026 Q1 · Calendar Q2 2026
Sempra Reaffirms 2026 EPS Guidance as Texas Load Queue and LNG Startup Drive Q1
Sempra's Q1 2026 results confirm the Texas-centric growth thesis remains intact. The company deployed $3 billion of its $13 billion T&D investment plan in the quarter, while Oncor secured PUCT approval for a higher authorized ROE and filed its inaugural UTM to reduce regulatory lag. A 127 GW large-load queue at Oncor and ERCOT's approximately $2.9 billion South Dallas transmission award expand the incremental $10 billion capex opportunity. LNG infrastructure is advancing, with ECA LNG entering startup and Cimarron Wind reaching commercial operation. The SI Partners transaction and Ecogas sale remain on track for 2026 close, supporting capital recycling. Adjusted EPS of $1.51 met consensus exactly, though revenue of $3.66 billion missed estimates by approximately 11%. The market reacted negatively, with an abnormal decline of 1.9% on 1.33x baseline volume. The stock currently trades at…
Reported Before market openNYSEUtilities
$59.20B market cap
100quality score
Company 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.51
Consensus $2
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$3.65B
Consensus $4.10B
Revenue surprise
-10.9%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$88.82Current
$36.25Low
$87.28Average
$118High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 29, 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 |
|---|---|---|---|---|
| BMO Capital | Outperform | Outperform | Maintain | Jul 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Truist Securities | Buy | Buy | Maintain | May 18, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 21, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Mar 23, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Mar 18, 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 |
| Jefferies | Hold | Hold | Maintain | Oct 22, 2025 |
| Mizuho | Outperform | Outperform | Maintain | Sep 24, 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 $88.82. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | David Arcaro | $108 | $92.88 | +21.6% | Jul 22, 2026 |
| BMO Capital | Analyst unavailable | $102 | $92.79 | +14.8% | Jul 22, 2026 |
| Jefferies | Analyst unavailable | $101 | $92.78 | +13.7% | Jul 16, 2026 |
| Barclays | Analyst unavailable | $103 | $95.15 | +16.0% | Jul 9, 2026 |
| Morgan Stanley | Analyst unavailable | $105 | $91.9 | +18.2% | Jun 24, 2026 |
| Truist Financial | Analyst unavailable | $104 | $90.43 | +17.1% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $104 | $93.27 | +17.1% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $118 | $93.38 | +32.9% | Apr 21, 2026 |
| Truist Financial | Richard Sunderland | $108 | $93.38 | +21.6% | Apr 20, 2026 |
| Barclays | Analyst unavailable | $105 | $96.16 | +18.2% | Apr 15, 2026 |
| Morgan Stanley | Analyst unavailable | $101 | $93.34 | +13.7% | Feb 20, 2026 |
| Barclays | Nicholas Campanella | $95 | $86.22 | +7.0% | Feb 3, 2026 |
| Morgan Stanley | David Arcaro | $97 | $86.8 | +9.2% | Feb 2, 2026 |
| UBS | Analyst unavailable | $100 | $85.98 | +12.6% | Jan 22, 2026 |
| UBS | Analyst unavailable | $92 | $85.98 | +3.6% | Jan 22, 2026 |
| Barclays | Nicholas Campanella | $97 | $85.98 | +9.2% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $95 | $84.89 | +7.0% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $112 | $92.55 | +26.1% | Jan 20, 2026 |
| UBS | Analyst unavailable | $96 | $87.91 | +8.1% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $91 | $88.57 | +2.5% | Dec 16, 2025 |
| Morgan Stanley | Analyst unavailable | $98 | $91.12 | +10.3% | Nov 20, 2025 |
| Wells Fargo | Analyst unavailable | $115 | $93.17 | +29.5% | Oct 27, 2025 |
| Morgan Stanley | David Arcaro | $99 | $91.88 | +11.5% | Oct 22, 2025 |
| BMO Capital | James Thalacker | $99 | $92.29 | +11.5% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $89 | $92.29 | +0.2% | Oct 22, 2025 |
| BTIG | Analyst unavailable | $106 | $92.29 | +19.3% | Oct 21, 2025 |
| Barclays | Analyst unavailable | $101 | $91.29 | +13.7% | Oct 20, 2025 |
| Evercore ISI | Analyst unavailable | $105 | $92.46 | +18.2% | Oct 6, 2025 |
| Barclays | Analyst unavailable | $80 | $81.72 | -9.9% | Aug 26, 2025 |
| Barclays | Nicholas Campanella | $71 | $74.9 | -20.1% | Jul 10, 2025 |
| Morgan Stanley | David Arcaro | $87 | $76.75 | -2.0% | May 22, 2025 |
| Morgan Stanley | David Arcaro | $89 | $73.31 | +0.2% | Apr 23, 2025 |
| Jefferies | Julien Dumoulin-Smith | $75 | $69.73 | -15.6% | Apr 14, 2025 |
| Morgan Stanley | Analyst unavailable | $86 | $70 | -3.2% | Mar 20, 2025 |
| Jefferies | Julian Dumoulin-Smith | $98 | $85.96 | +10.3% | Oct 24, 2024 |
| BMO Capital | James Thalacker | $96 | $84.83 | +8.1% | Oct 21, 2024 |
| Mizuho Securities | Anthony Crowdell | $93 | $84.83 | +4.7% | Oct 21, 2024 |
| Barclays | Nicholas Campanella | $89 | $83.63 | +0.2% | Oct 1, 2024 |
| Morgan Stanley | David Arcaro | $85 | $83.02 | -4.3% | Sep 25, 2024 |
| BMO Capital | James Thalacker | $93 | $81.37 | +4.7% | Sep 12, 2024 |
| Morgan Stanley | David Arcaro | $80 | $81.67 | -9.9% | Aug 23, 2024 |
| Mizuho Securities | Anthony Crowdell | $88 | $79.96 | -0.9% | Aug 16, 2024 |
| Barclays | Nicholas Campanella | $87 | $78.99 | -2.0% | Aug 13, 2024 |
| BMO Capital | James Thalacker | $90 | $77.57 | +1.3% | Aug 9, 2024 |
| Mizuho Securities | Anthony Crowdell | $86 | $77.67 | -3.2% | May 17, 2024 |
| Mizuho Securities | Anthony Crowdell | $79 | $70.97 | -11.1% | Apr 4, 2024 |
| Barclays | Eric Beaumont | $77 | $71.96 | -13.3% | Feb 22, 2024 |
| Raymond James | James Thalacker | $84 | $74.8 | -5.4% | Jan 11, 2024 |
| BMO Capital | James Thalacker | $84 | $74.84 | -5.4% | Jan 11, 2024 |
| J.P. Morgan | Christopher Turnure | $86 | $76.01 | -3.2% | Jan 4, 2024 |
| Barclays | Eric Beaumont | $76 | $70.12 | -14.4% | Nov 1, 2023 |
| Barclays | Eric Beaumont | $156 | $70.3 | +75.6% | Oct 19, 2023 |
| Citigroup | Analyst unavailable | $42.75 | $41.21 | -51.9% | Apr 28, 2022 |
| Credit Suisse | Analyst unavailable | $45 | $41.34 | -49.3% | Apr 26, 2022 |
| Morgan Stanley | Analyst unavailable | $42 | $43.12 | -52.7% | Apr 20, 2022 |
| RBC Capital | Shelby Tucker | $39.5 | $32.68 | -55.5% | Jan 24, 2022 |
| Vertical Research | Jonathan Arnold | $39.5 | $34.18 | -55.5% | Jan 10, 2022 |
| Wells Fargo | Sarah Akers | $36.25 | $30.9 | -59.2% | Nov 8, 2021 |
Track every rating change on SRE the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-2.2%
Event window
SPY move
-0.3%
Same window
Abnormal move
-1.9%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
-0.2%
Up to 20 sessions
SRESPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Several developments are incremental to the prior quarter. Oncor disclosed a 127 GW large-load queue with 271 GW tied to data-center customers, dramatically expanding its load base. ERCOT awarded approximately $2.9 billion of South Dallas transmission projects, directly adding to the $10 billion incremental capex bucket. On the infrastructure side, Cimarron Wind reached commercial operation and ECA LNG entered startup with first LNG expected imminently. Oncor received PUCT approval for a higher authorized ROE and filed its inaugural UTM to reduce regulatory lag. The SI Partners transaction is now expected to close in Q2/Q3 2026, and the Ecogas sale is targeted for mid-2026.
Guidance delta
Full-year 2026 adjusted EPS guidance of $4.80 to $5.30 and 2027 guidance of $5.10 to $5.70 were both reaffirmed. Guidance sentiment is maintained with no change from the prior quarter.
Key takeaways
- Adjusted EPS of $1.51 met consensus exactly; revenue of $3.66 billion missed estimates by approximately 11%.
- $3 billion deployed in Q1 toward the $13 billion T&D investment plan.
- Oncor received PUCT approval for a higher authorized ROE and filed its inaugural UTM to reduce regulatory lag.
- 127 GW large-load queue at Oncor, with 271 GW tied to data-center customers.
- ERCOT awarded approximately $2.9 billion of South Dallas transmission projects, expanding the $10 billion incremental capex opportunity.
- ECA LNG entering startup with first LNG expected next month; Cimarron Wind COD declared.
Management priorities
- Close the SI Partners transaction in Q2/Q3 2026.
- Complete the Ecogas sale in mid-2026.
- Achieve ECA LNG substantial completion by summer and begin commercial operations.
- File the California GRC rate case in Q2 2026.
- Continue Texas capital plan execution and pursue incremental capex opportunities.
- Strengthen labor and supply-chain strategies for projects beyond 2028.
Related earnings events
UtilitiesSources
- 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 · 2026-07-29T18:13:19.917536+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T18:13:19.914841+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 . For educational purposes only; not investment advice.