KeyCorp Has Pessimistic Outlook of Sempra FY2024 Earnings

Sempra (NYSE:SRE) – Equities researchers at KeyCorp lowered their FY2024 earnings estimates for shares of Sempra in a report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $4.75 per share for the year, down from their prior 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.

A number of other brokerages have also weighed in on SRE. Bank of America assumed coverage on shares of Sempra in a report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Sempra from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Barclays raised their price objective on shares of Sempra from $89.00 to $99.00 and gave the company an “overweight” rating in a report on Monday. Jefferies Financial Group assumed coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Finally, Evercore ISI increased their target price 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.91.

Sempra Price Performance

Sempra stock opened at $91.50 on Thursday. Sempra has a 52-week low of $66.40 and a 52-week high of $95.77. The company’s 50 day moving average is $87.26 and its two-hundred day moving average is $81.60. The firm has a market cap of $57.95 billion, a PE ratio of 20.15, a price-to-earnings-growth 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.

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

Institutional Investors Weigh In On Sempra

A number of institutional investors and hedge funds have recently modified their holdings of SRE. Cetera Advisors LLC grew its holdings in Sempra by 114.5% during the 1st quarter. Cetera Advisors LLC now owns 29,112 shares of the utilities provider’s stock valued at $2,091,000 after buying an additional 15,542 shares during the last quarter. CWM LLC lifted its stake in shares of Sempra by 9.1% during the 2nd quarter. CWM LLC now owns 13,759 shares of the utilities provider’s stock worth $1,047,000 after purchasing an additional 1,143 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of Sempra during the 2nd quarter worth $217,000. Simplicity Wealth LLC lifted its stake in shares of Sempra by 3.8% during the 2nd quarter. Simplicity Wealth LLC now owns 10,894 shares of the utilities provider’s stock worth $829,000 after purchasing an additional 402 shares during the period. Finally, CX Institutional purchased a new position in shares of Sempra during the 2nd quarter worth $222,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

Insider Buying and Selling at Sempra

In other news, VP Trevor I. Mihalik sold 23,713 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the completion of the transaction, the vice president now directly owns 11,190 shares of the company’s stock, valued at approximately $1,041,677.10. This represents a 67.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

Sempra Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Thursday, December 5th. Sempra’s dividend payout ratio is presently 54.63%.

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.