FY2024 EPS Estimates for Sempra Cut by Seaport Res Ptn

Sempra (NYSE:SRE) – Equities researchers at Seaport Res Ptn dropped their FY2024 earnings estimates for Sempra in a research report issued to clients and investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $4.75 per share for the year, down from their previous estimate of $4.84. The consensus estimate for Sempra’s current full-year earnings is $4.78 per share.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group assumed coverage on Sempra in a research report on Thursday, October 24th. They set a “buy” rating and a $98.00 price objective on the stock. Evercore ISI increased their price objective on Sempra from $83.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price target on Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Barclays increased their price objective on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Bank of America initiated coverage on Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.55.

Sempra Price Performance

Sempra stock opened at $81.65 on Friday. The stock has a market capitalization of $51.70 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.66 and a beta of 0.75. Sempra has a 52 week low of $66.40 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.41 and a current ratio of 0.46. The stock has a fifty day moving average of $83.14 and a 200-day moving average of $78.60.

Sempra (NYSE:SRE) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 9.7% compared to the same quarter last year.

Institutional Trading of Sempra

Several hedge funds have recently made changes to their positions in the company. Sustainable Insight Capital Management LLC purchased a new position in shares of Sempra in the 3rd quarter valued at $376,000. Atria Investments Inc grew its holdings in shares of Sempra by 6.4% during the third quarter. Atria Investments Inc now owns 47,986 shares of the utilities provider’s stock worth $4,013,000 after buying an additional 2,888 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Sempra by 3.2% during the third quarter. Assetmark Inc. now owns 423,940 shares of the utilities provider’s stock worth $35,454,000 after buying an additional 12,966 shares in the last quarter. Applied Finance Capital Management LLC grew its holdings in Sempra by 60.3% in the third quarter. Applied Finance Capital Management LLC now owns 10,653 shares of the utilities provider’s stock valued at $891,000 after purchasing an additional 4,009 shares during the period. Finally, SpiderRock Advisors LLC grew its stake in Sempra by 4.8% during the third quarter. SpiderRock Advisors LLC now owns 10,253 shares of the utilities provider’s stock worth $857,000 after buying an additional 472 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, September 26th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.48 annualized dividend and a dividend yield of 3.04%. Sempra’s dividend payout ratio (DPR) is presently 52.99%.

Sempra Company Profile

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.