KeyCorp Has Pessimistic Outlook of Sempra FY2024 Earnings

Sempra (NYSE:SRE) – KeyCorp lowered their FY2024 EPS estimates for Sempra in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now anticipates that the utilities provider will earn $4.75 per share for the year, down from their previous 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.

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

Several other brokerages also recently weighed in on SRE. Barclays increased their price target on shares of Sempra from $89.00 to $99.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets upped their price objective on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Morgan Stanley upped their price objective on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on Sempra in a research report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price objective on the stock. Finally, Bank of America assumed coverage on Sempra in a research report on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective on the stock. One equities research 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’s stock. According to data from MarketBeat.com, Sempra has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

Sempra Price Performance

Shares of NYSE:SRE opened at $91.50 on Thursday. Sempra has a twelve month low of $66.40 and a twelve month high of $95.77. The company’s 50 day moving average is $87.26 and its 200 day moving average is $81.60. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 0.89. The company 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.

Institutional Trading of Sempra

Several hedge funds have recently made changes to their positions in the company. Perennial Investment Advisors LLC lifted its holdings in shares of Sempra by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,963 shares of the utilities provider’s stock worth $377,000 after acquiring an additional 134 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Sempra by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 8,742 shares of the utilities provider’s stock worth $731,000 after acquiring an additional 139 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Sempra by 4.0% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,794 shares of the utilities provider’s stock worth $289,000 after acquiring an additional 147 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its holdings in shares of Sempra by 1.2% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 12,558 shares of the utilities provider’s stock worth $955,000 after acquiring an additional 152 shares during the last quarter. Finally, Conning Inc. lifted its holdings in shares of Sempra by 3.8% in the 2nd quarter. Conning Inc. now owns 4,184 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Insider Activity

In related news, VP Trevor I. Mihalik sold 23,713 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $93.09, for a total transaction of $2,207,443.17. Following the completion of the sale, the vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Sempra Announces Dividend

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