KeyCorp Has Negative Outlook for Sempra Q3 Earnings

Sempra (NYSE:SRE) – Research analysts at KeyCorp decreased their Q3 2024 earnings estimates for Sempra in a research note issued 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.

Sempra (NYSE:SRE) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 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 company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company posted $0.94 EPS. Sempra’s quarterly revenue was down 9.7% compared to the same quarter last year.

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

Sempra Trading Down 0.2 %

Sempra stock opened at $85.77 on Thursday. The stock has a 50-day moving average price of $82.69 and a 200 day moving average price of $77.97. Sempra has a 52 week low of $66.40 and a 52 week high of $86.57. The stock has a market cap of $54.31 billion, a PE ratio of 18.33, a P/E/G ratio of 2.70 and a beta of 0.75. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 0.84.

Sempra Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, September 26th. Sempra’s dividend payout ratio is currently 52.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Perennial Investment Advisors LLC raised its holdings in shares of Sempra by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,963 shares of the utilities provider’s stock valued at $377,000 after buying an additional 134 shares during the period. Transcend Capital Advisors LLC raised its stake in shares of Sempra by 2.8% during the second quarter. Transcend Capital Advisors LLC now owns 4,983 shares of the utilities provider’s stock valued at $379,000 after purchasing an additional 136 shares during the period. Marcum Wealth LLC lifted its position in shares of Sempra by 3.5% during the second quarter. Marcum Wealth LLC now owns 4,019 shares of the utilities provider’s stock worth $306,000 after purchasing an additional 137 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Sempra by 1.6% in the third quarter. Private Advisor Group LLC now owns 8,742 shares of the utilities provider’s stock valued at $731,000 after purchasing an additional 139 shares during the period. Finally, SeaCrest Wealth Management LLC grew its holdings in Sempra by 4.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,794 shares of the utilities provider’s stock valued at $289,000 after purchasing an additional 147 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.