Sempra (NYSE:SRE) to Post Q2 2024 Earnings of $0.93 Per Share, KeyCorp Forecasts

Sempra (NYSE:SRE - Free Report) - KeyCorp issued their Q2 2024 earnings per share (EPS) estimates for shares of Sempra in a research report issued on Sunday, July 21st. KeyCorp analyst S. Karp anticipates that the utilities provider will post earnings per share of $0.93 for the quarter. The consensus estimate for Sempra's current full-year earnings is $4.80 per share. KeyCorp also issued estimates for Sempra's Q3 2024 earnings at $1.16 EPS, Q4 2024 earnings at $1.36 EPS and FY2028 earnings at $6.26 EPS.

A number of other equities research analysts have also recently commented on SRE. BMO Capital Markets lowered their target price on Sempra from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 10th. Mizuho increased their price objective on Sempra from $79.00 to $86.00 and gave the company a "buy" rating in a research note on Friday, May 17th. Morgan Stanley cut their target price on shares of Sempra from $79.00 to $76.00 and set an "equal weight" rating for the company in a research note on Monday, June 24th. Wells Fargo & Company raised their price target on shares of Sempra from $79.00 to $84.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 8th. Finally, LADENBURG THALM/SH SH cut their price objective on shares of Sempra from $81.50 to $79.00 and set a "buy" rating for the company in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Sempra currently has an average rating of "Moderate Buy" and an average target price of $82.10.

Sempra Price Performance

Shares of SRE traded up $1.39 during mid-day trading on Wednesday, reaching $79.12. 2,818,594 shares of the company's stock were exchanged, compared to its average volume of 2,988,395. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.87. Sempra has a 52-week low of $63.75 and a 52-week high of $79.48. The company has a market cap of $49.86 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.71 and a beta of 0.74. The company has a 50-day simple moving average of $76.24 and a two-hundred day simple moving average of $73.22.

Sempra (NYSE:SRE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.01). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $5.58 billion. Sempra had a net margin of 20.99% and a return on equity of 8.95%. Sempra's revenue was down 44.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Transcend Capital Advisors LLC grew its stake in shares of Sempra by 2.8% in the second quarter. Transcend Capital Advisors LLC now owns 4,983 shares of the utilities provider's stock valued at $379,000 after buying an additional 136 shares in the last quarter. Marcum Wealth LLC grew its position in Sempra by 3.5% in the second quarter. Marcum Wealth LLC now owns 4,019 shares of the utilities provider's stock valued at $306,000 after acquiring an additional 137 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Sempra by 3.4% during the first quarter. Premier Path Wealth Partners LLC now owns 4,335 shares of the utilities provider's stock valued at $311,000 after purchasing an additional 142 shares during the period. Benjamin Edwards Inc. raised its stake in shares of Sempra by 7.5% during the fourth quarter. Benjamin Edwards Inc. now owns 2,081 shares of the utilities provider's stock valued at $156,000 after purchasing an additional 146 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Sempra by 0.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 38,190 shares of the utilities provider's stock worth $2,854,000 after purchasing an additional 147 shares in the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sempra

In related news, CAO Peter R. Wall sold 6,100 shares of Sempra stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $75.07, for a total value of $457,927.00. Following the transaction, the chief accounting officer now owns 14,751 shares in the company, valued at $1,107,357.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sempra news, Director Richard J. Mark bought 1,925 shares of the business's stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $77.97 per share, with a total value of $150,092.25. Following the purchase, the director now owns 5,420 shares in the company, valued at approximately $422,597.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Peter R. Wall sold 6,100 shares of Sempra stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $75.07, for a total transaction of $457,927.00. Following the transaction, the chief accounting officer now owns 14,751 shares in the company, valued at approximately $1,107,357.57. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

Sempra Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Thursday, June 27th were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $2.48 annualized dividend and a dividend yield of 3.13%. Sempra's dividend payout ratio is presently 54.93%.

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.