Q2 2023 EPS Estimates for Sempra (NYSE:SRE) Cut by KeyCorp

Sempra (NYSE:SRE – Free Report) – Stock analysts at KeyCorp reduced their Q2 2023 earnings per share (EPS) estimates for shares of Sempra in a research report issued on Tuesday, July 18th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $1.74 per share for the quarter, down from their prior forecast of $1.87. The consensus estimate for Sempra’s current full-year earnings is $8.99 per share. KeyCorp also issued estimates for Sempra’s Q4 2023 earnings at $2.32 EPS and FY2024 earnings at $9.44 EPS.

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Sempra (NYSE:SRE – Get Free Report) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.16. The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $4.04 billion. Sempra had a return on equity of 10.28% and a net margin of 14.47%. The company’s quarterly revenue was up 71.7% compared to the same quarter last year. During the same period last year, the business posted $2.91 EPS.

A number of other analysts have also recently weighed in on SRE. The Goldman Sachs Group initiated coverage on shares of Sempra in a research report on Wednesday, June 7th. They set a “buy” rating and a $178.00 price target for the company. Guggenheim dropped their target price on Sempra from $174.00 to $172.00 in a report on Friday, July 7th. StockNews.com started coverage on Sempra in a report on Thursday, May 18th. They issued a “hold” rating for the company. Bank of America dropped their price objective on shares of Sempra from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Tuesday, March 28th. Finally, 888 restated a “maintains” rating on shares of Sempra in a research note on Friday, June 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $168.57.

Sempra Price Performance

SRE opened at $149.64 on Thursday. Sempra has a 52-week low of $136.54 and a 52-week high of $176.47. The company has a 50 day moving average of $146.41 and a two-hundred day moving average of $151.38. The company has a market cap of $47.08 billion, a P/E ratio of 19.28, a P/E/G ratio of 3.39 and a beta of 0.73. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.86.

Sempra Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Wednesday, July 5th were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Monday, July 3rd. Sempra’s payout ratio is currently 61.34%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SRE. Glassman Wealth Services lifted its holdings in Sempra by 16.2% during the 4th quarter. Glassman Wealth Services now owns 459 shares of the utilities provider’s stock worth $71,000 after buying an additional 64 shares in the last quarter. Jeppson Wealth Management LLC lifted its stake in shares of Sempra by 0.7% during the first quarter. Jeppson Wealth Management LLC now owns 9,052 shares of the utilities provider’s stock valued at $1,368,000 after acquiring an additional 65 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Sempra by 31.9% in the first quarter. Hexagon Capital Partners LLC now owns 281 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 68 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in Sempra by 13.9% in the first quarter. Western Pacific Wealth Management LP now owns 558 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 68 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Sempra by 0.3% in the first quarter. Oppenheimer & Co. Inc. now owns 22,176 shares of the utilities provider’s stock worth $3,352,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.

About Sempra

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Sempra operates as an energy infrastructure company in the United States and internationally. It operates through four segments: San Diego Gas & Electric Company, Southern California Gas Company, Sempra Texas Utilities, and Sempra Infrastructure. The San Diego Gas & Electric Company segment provides to San Diego and southern Orange counties; and natural gas service to San Diego County.

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