SRE Sempra

   By Ezequiel Minaya 
 

Sempra Energy (SRE) posted better-than-expected results for its fourth-quarter earnings and boosted its annual earnings outlook Tuesday.

For the year, the company expects earnings on a per-share basis of $4.85 to $5.25, up from a prior range of $4.80 to $5.20. Analysts surveyed by Thomson Reuters expect $5.11.

Sempra Energy also unveiled a 9% increase in the annualized dividend to $3.29 a share.

For the latest quarter, Sempra, parent company of California utilities San Diego Gas & Electric and Southern California Gas Co., reported a profit of $379 million, or $1.51 a share, up from $369 million, or $1.47 a share, a year earlier. Excluding certain items, adjusted per-share earnings were $1.52. Revenue increased 6.3% to $2.87 billion.

Analysts polled by Thomson Reuters expected adjusted earnings of $1.49 a share and revenue of $2.84 billion.

Write to Ezequiel Minaya at Ezequiel.Minaya@wsj.com

(END) Dow Jones Newswires

February 28, 2017 10:08 ET (15:08 GMT)

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