KeyCorp Has Pessimistic View of Sempra FY2024 Earnings

Sempra (NYSE:SRE) – Analysts at KeyCorp lowered their FY2024 earnings per share (EPS) estimates for Sempra in a research report issued to clients and investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings per share of $4.75 for the year, down from their previous forecast of $4.77. The consensus estimate for Sempra’s current full-year earnings is $4.77 per share. KeyCorp also issued estimates for Sempra’s Q4 2024 earnings at $1.63 EPS and FY2028 earnings at $6.28 EPS.

Sempra (NYSE:SRE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.16). Sempra had a return on equity of 8.06% and a net margin of 22.63%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was down 16.7% compared to the same quarter last year.

Other equities analysts have also issued reports about the company. Morgan Stanley increased their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America began coverage on Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective for the company. BMO Capital Markets increased their price objective on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays increased their price objective on Sempra from $89.00 to $99.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group began coverage on Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Sempra has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Sempra Trading Down 0.6 %

Shares of NYSE SRE opened at $90.94 on Thursday. The stock’s 50 day moving average price is $87.44 and its two-hundred day moving average price is $81.66. Sempra has a 52-week low of $66.40 and a 52-week high of $95.77. The stock has a market capitalization of $57.60 billion, a P/E ratio of 20.03, a PEG ratio of 2.52 and a beta of 0.77. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC raised its stake in shares of Sempra by 114.5% in the first quarter. Cetera Advisors LLC now owns 29,112 shares of the utilities provider’s stock valued at $2,091,000 after acquiring an additional 15,542 shares during the last quarter. CWM LLC increased its holdings in shares of Sempra by 9.1% in the second quarter. CWM LLC now owns 13,759 shares of the utilities provider’s stock valued at $1,047,000 after purchasing an additional 1,143 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Sempra in the second quarter valued at approximately $217,000. Simplicity Wealth LLC increased its holdings in shares of Sempra by 3.8% in the second quarter. Simplicity Wealth LLC now owns 10,894 shares of the utilities provider’s stock valued at $829,000 after purchasing an additional 402 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Sempra in the second quarter valued at approximately $222,000. Institutional investors own 89.65% of the company’s stock.

Insider Activity

In related news, VP Trevor I. Mihalik sold 23,713 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total value of $2,207,443.17. Following the completion of the sale, the vice president now owns 11,190 shares in the company, valued at approximately $1,041,677.10. This trade represents a 67.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Sempra Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 5th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, December 5th. Sempra’s dividend payout ratio is currently 54.63%.

About Sempra

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.