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

Sempra (NYSE:SRE) – Research analysts at KeyCorp cut their Q3 2024 EPS estimates for shares of Sempra in a note issued to investors on Monday, October 21st. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $1.07 per share for the quarter, down from their prior 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 posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Sempra had a net margin of 22.31% and a return on equity of 8.58%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was down 9.7% on a year-over-year basis.

A number of other analysts also recently weighed in on SRE. Jefferies Financial Group initiated coverage on shares of Sempra in a report on Thursday. They set a “buy” rating and a $98.00 price target for the company. Barclays upped their price target on shares of Sempra from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley upped their price objective 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. BMO Capital Markets upped their price objective on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Bank of America started coverage on shares of Sempra in a research report on Thursday, September 12th. They set a “buy” rating and a $94.00 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 stock. According to data from MarketBeat, Sempra has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Sempra Stock Performance

Shares of Sempra stock opened at $85.96 on Thursday. The company has a 50 day moving average of $82.69 and a 200-day moving average of $77.97. Sempra has a 1-year low of $66.40 and a 1-year high of $86.13. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84. The company has a market cap of $54.17 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.73 and a beta of 0.75.

Sempra Announces Dividend

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

Hedge Funds Weigh In On Sempra

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in Sempra in the 1st quarter valued at approximately $815,000. Magnetar Financial LLC acquired a new stake in shares of Sempra during the first quarter worth $2,293,000. Forsta AP Fonden increased its position in shares of Sempra by 13.7% during the first quarter. Forsta AP Fonden now owns 117,200 shares of the utilities provider’s stock worth $8,418,000 after buying an additional 14,100 shares during the period. SG Americas Securities LLC increased its position in shares of Sempra by 249.9% during the first quarter. SG Americas Securities LLC now owns 155,854 shares of the utilities provider’s stock worth $11,195,000 after buying an additional 111,314 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its position in shares of Sempra by 319.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 196,954 shares of the utilities provider’s stock worth $14,980,000 after buying an additional 150,000 shares during the period. 89.65% of the stock is currently owned by institutional investors and hedge funds.

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.