It hasn’t been the best quarter for Sempra Energy (NYSE:SRE) shareholders, since the share price has fallen 20% in that time. In contrast the stock is up over the last three years. However, it’s unlikely many shareholders are elated with the share price gain of 10% over that time, given the rising market.
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
Sempra Energy was able to grow its EPS at 3.6% per