KeyCorp Has Pessimistic Outlook of Sempra Q3 Earnings

Sempra (NYSE:SRE) – Equities researchers at KeyCorp reduced their Q3 2024 earnings per share estimates for shares of Sempra in a research note issued on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will post earnings of $1.07 per share for the quarter, down from their previous forecast of $1.16. The consensus estimate for Sempra’s current full-year earnings is $4.79 per share. KeyCorp also issued estimates for Sempra’s Q4 2024 earnings at $1.47 EPS, FY2024 earnings at $4.77 EPS, FY2025 earnings at $5.18 EPS and FY2028 earnings at $6.27 EPS.

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). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a net margin of 22.31% and a return on equity of 8.58%. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 EPS.

A number of other research analysts have also commented on the company. BMO Capital Markets upped their price target on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays boosted their price objective on Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Evercore ISI upped their price target on Sempra from $83.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Sempra in a research report on Thursday. They issued a “buy” rating and a $98.00 price objective for the company. One research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.55.

Sempra Stock Down 1.6 %

SRE opened at $84.38 on Thursday. The business has a 50 day moving average price of $82.81 and a 200 day moving average price of $78.02. Sempra has a twelve month low of $66.40 and a twelve month 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 firm has a market cap of $53.43 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.75.

Sempra Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, September 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, September 26th. Sempra’s payout ratio is presently 52.99%.

Hedge Funds Weigh In On Sempra

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRE. Eastern Bank bought a new stake in Sempra during the 3rd quarter worth about $28,000. Family Firm Inc. bought a new stake in Sempra during the 2nd quarter worth about $30,000. Ashton Thomas Private Wealth LLC bought a new stake in Sempra during the 2nd quarter worth about $33,000. Financial Connections Group Inc. bought a new stake in Sempra during the 2nd quarter worth about $34,000. Finally, SouthState Corp lifted its position in Sempra by 900.0% during the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock worth $36,000 after buying an additional 423 shares in the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

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.