KeyCorp Has Pessimistic View of Sempra FY2024 Earnings

Sempra (NYSE:SRE) – Research analysts at KeyCorp cut their FY2024 earnings estimates for shares of Sempra in a note issued to investors on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $4.75 per share for the year, down from their prior estimate 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.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on shares of Sempra from $87.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Jefferies Financial Group started coverage on shares of Sempra in a research report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Barclays boosted their price objective on shares of Sempra from $89.00 to $99.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Evercore ISI boosted their price objective on shares of Sempra from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.91.

Sempra Trading Down 0.6 %

Shares of NYSE SRE opened at $90.94 on Thursday. The company’s fifty day moving average is $87.44 and its 200-day moving average is $81.66. The stock has a market cap of $57.60 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.52 and a beta of 0.77. Sempra has a twelve month low of $66.40 and a twelve month high of $95.77. The company has a quick ratio of 0.47, a current ratio of 0.52 and a debt-to-equity ratio of 0.89.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRE. Eastern Bank acquired a new position in Sempra in the 3rd quarter valued at about $28,000. Family Firm Inc. acquired a new position in Sempra in the 2nd quarter valued at about $30,000. Hollencrest Capital Management grew its stake in Sempra by 250.0% in the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock valued at $32,000 after buying an additional 270 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Sempra in the 2nd quarter valued at about $33,000. Finally, Financial Connections Group Inc. acquired a new position in Sempra in the 2nd quarter valued at about $34,000. 89.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Trevor I. Mihalik sold 23,713 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the transaction, the vice president now directly owns 11,190 shares in the company, valued at $1,041,677.10. The trade was a 67.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

Sempra Dividend Announcement

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