FY2023 EPS Estimates for Sempra (NYSE:SRE) Lifted by Seaport Res Ptn

Sempra (NYSE:SRE) – Analysts at Seaport Res Ptn upped their FY2023 EPS estimates for Sempra in a research report issued on Wednesday, September 13th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $4.51 per share for the year, up from their previous forecast of $4.46. The consensus estimate for Sempra’s current full-year earnings is $4.04 per share. Seaport Res Ptn also issued estimates for Sempra’s FY2024 earnings at $4.84 EPS.

Sempra (NYSE:SRE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. Sempra had a net margin of 14.90% and a return on equity of 10.04%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis.

SRE has been the subject of several other reports. 888 reiterated a “maintains” rating on shares of Sempra in a report on Friday, June 23rd. The Goldman Sachs Group assumed coverage on Sempra in a research note on Wednesday, June 7th. They set a “buy” rating and a $89.00 price objective for the company. BMO Capital Markets cut their price objective on Sempra from $84.00 to $80.00 and set a “market perform” rating for the company in a research note on Monday, August 7th. Morgan Stanley lowered their price target on Sempra from $79.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 23rd. Finally, StockNews.com cut Sempra from a “hold” rating to a “sell” rating in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.38.

Sempra Stock Performance

NYSE:SRE opened at $73.53 on Thursday. The firm’s fifty day simple moving average is $72.26 and its 200 day simple moving average is $73.77. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 0.91. The stock has a market cap of $46.27 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 3.52 and a beta of 0.74. Sempra has a twelve month low of $68.27 and a twelve month high of $86.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Silvia Mccoll Wealth Management LLC lifted its position in Sempra by 2.3% during the 2nd quarter. Silvia Mccoll Wealth Management LLC now owns 7,779 shares of the utilities provider’s stock worth $1,133,000 after acquiring an additional 172 shares during the period. Alberta Investment Management Corp increased its stake in Sempra by 770.7% in the 2nd quarter. Alberta Investment Management Corp now owns 57,467 shares of the utilities provider’s stock valued at $8,367,000 after purchasing an additional 50,867 shares in the last quarter. Stonebridge Capital Advisors LLC increased its stake in Sempra by 3.7% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 22,149 shares of the utilities provider’s stock valued at $3,225,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC increased its stake in Sempra by 10.3% in the 2nd quarter. Asset Dedication LLC now owns 9,192 shares of the utilities provider’s stock valued at $1,327,000 after purchasing an additional 855 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in Sempra by 4.3% during the second quarter. Osaic Holdings Inc. now owns 133,958 shares of the utilities provider’s stock worth $19,506,000 after buying an additional 5,557 shares in the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Wednesday, September 27th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $2.38 annualized dividend and a yield of 3.24%. Sempra’s dividend payout ratio (DPR) is 60.25%.

About Sempra

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.