KeyCorp Weighs in on Sempra’s Q3 Earnings (NYSE:SRE)

Sempra (NYSE:SRE) – Investment analysts at KeyCorp reduced their Q3 2024 earnings estimates for Sempra in a research report issued to clients and investors on Monday, October 21st. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $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.

Several other brokerages have also issued reports on SRE. Morgan Stanley increased their target price on shares of Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Barclays raised their price objective on shares of Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Jefferies Financial Group initiated coverage on shares of Sempra in a research note on Thursday. They issued a “buy” rating and a $98.00 price objective on the stock. Bank of America initiated coverage on shares of Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on shares of Sempra from $93.00 to $96.00 and gave the company an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Sempra Stock Up 1.1 %

Shares of NYSE SRE opened at $85.96 on Thursday. The firm has a market cap of $54.17 billion, a PE ratio of 19.06, a P/E/G ratio of 2.73 and a beta of 0.75. Sempra has a 12-month low of $66.40 and a 12-month high of $86.13. The company’s fifty day simple moving average is $82.69 and its 200 day simple moving average is $77.97. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 0.84.

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

Institutional Trading of Sempra

Hedge funds have recently added to or reduced their stakes in the stock. Eastern Bank bought a new stake in Sempra in the third quarter worth about $28,000. Family Firm Inc. purchased a new position in Sempra in the 2nd quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC purchased a new position in Sempra in the 2nd quarter worth approximately $33,000. Financial Connections Group Inc. purchased a new position in Sempra in the 2nd quarter worth approximately $34,000. Finally, SouthState Corp boosted its stake in shares of Sempra by 900.0% in the 2nd quarter. SouthState Corp now owns 470 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 423 shares in the last quarter. Institutional investors own 89.65% of the company’s stock.

Sempra Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, September 26th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 2.89%. The ex-dividend date was Thursday, September 26th. Sempra’s dividend payout ratio (DPR) is presently 54.99%.

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.