Seaport Res Ptn Brokers Lower Earnings Estimates for Sempra

Sempra (NYSE:SRE) – Equities research analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Sempra in a research report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will post earnings of $4.75 per share for the year, down from their prior forecast of $4.84. The consensus estimate for Sempra’s current full-year earnings is $4.78 per share.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised their target price on Sempra from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America began coverage on shares of Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective for the company. BMO Capital Markets increased their target price on shares of Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of Sempra in a report on Thursday, October 24th. They issued a “buy” rating and a $98.00 price target for the company. Finally, Barclays upped their price objective on shares of Sempra from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Sempra Stock Performance

SRE stock opened at $83.38 on Friday. The firm has a market cap of $52.79 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.66 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. The stock has a 50-day moving average price of $83.13 and a 200-day moving average price of $78.50. Sempra has a 1-year low of $66.40 and a 1-year high of $86.57.

Sempra (NYSE:SRE) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.46 billion. Sempra had a return on equity of 8.58% and a net margin of 22.31%. Sempra’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS.

Sempra Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, September 26th were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $2.48 annualized dividend and a dividend yield of 2.97%. Sempra’s payout ratio is 52.99%.

Institutional Investors Weigh In On Sempra

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Global Investments bought a new position in shares of Sempra in the third quarter valued at approximately $2,684,000. TFB Advisors LLC bought a new position in Sempra in the 3rd quarter valued at $221,000. Trinity Legacy Partners LLC increased its position in shares of Sempra by 13.8% during the 3rd quarter. Trinity Legacy Partners LLC now owns 52,474 shares of the utilities provider’s stock valued at $4,363,000 after purchasing an additional 6,379 shares during the last quarter. Advisor Resource Council raised its stake in shares of Sempra by 1.8% during the 3rd quarter. Advisor Resource Council now owns 24,867 shares of the utilities provider’s stock worth $2,080,000 after purchasing an additional 442 shares during the period. Finally, James J. Burns & Company LLC purchased a new position in shares of Sempra in the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

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.