KeyCorp Analysts Reduce Earnings Estimates for Sempra Energy (NYSE:SRE)

Sempra Energy (NYSE:SRE – Get Rating) – Research analysts at KeyCorp reduced their FY2024 earnings per share estimates for shares of Sempra Energy in a report issued on Tuesday, May 23rd. KeyCorp analyst S. Karp now forecasts that the utilities provider will earn $9.49 per share for the year, down from their prior forecast of $9.55. The consensus estimate for Sempra Energy’s current full-year earnings is $8.97 per share. KeyCorp also issued estimates for Sempra Energy’s FY2025 earnings at $10.22 EPS, FY2026 earnings at $10.83 EPS and FY2027 earnings at $11.55 EPS.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company decreased their price objective on Sempra Energy from $180.00 to $174.00 and set an “overweight” rating for the company in a research report on Wednesday, March 1st. Bank of America decreased their price objective on Sempra Energy from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, March 28th. Morgan Stanley upped their price target on Sempra Energy from $150.00 to $164.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. BMO Capital Markets reduced their price target on Sempra Energy from $169.00 to $166.00 and set a “market perform” rating for the company in a research report on Wednesday, March 1st. Finally, StockNews.com started coverage on Sempra Energy in a research report on Thursday, May 18th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.25.

Sempra Energy Price Performance

Shares of SRE opened at $145.72 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.51 and a current ratio of 0.54. The stock has a 50 day simple moving average of $151.36 and a 200 day simple moving average of $155.08. Sempra Energy has a 52-week low of $136.54 and a 52-week high of $176.47. The firm has a market capitalization of $45.85 billion, a PE ratio of 18.78, a P/E/G ratio of 3.39 and a beta of 0.73.

Sempra Energy (NYSE:SRE – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.16. Sempra Energy had a return on equity of 10.28% and a net margin of 14.47%. The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the firm earned $2.91 EPS. Sempra Energy’s quarterly revenue was up 71.7% compared to the same quarter last year.

Sempra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Wednesday, July 5th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, July 3rd. Sempra Energy’s dividend payout ratio is currently 61.34%.

Insider Transactions at Sempra Energy

In other news, CFO Trevor I. Mihalik sold 2,306 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $148.50, for a total transaction of $342,441.00. Following the sale, the chief financial officer now owns 21,362 shares in the company, valued at approximately $3,172,257. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jeffrey W. Martin sold 19,260 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $146.09, for a total value of $2,813,693.40. Following the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $146.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Trevor I. Mihalik sold 2,306 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $148.50, for a total value of $342,441.00. Following the completion of the sale, the chief financial officer now owns 21,362 shares in the company, valued at approximately $3,172,257. The disclosure for this sale can be found here. Insiders have sold a total of 31,979 shares of company stock worth $4,728,393 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Sempra Energy

A number of large investors have recently added to or reduced their stakes in SRE. EWG Elevate Inc. bought a new position in Sempra Energy during the 4th quarter worth $40,000. Power Corp of Canada bought a new position in Sempra Energy during the 3rd quarter worth $418,000. Tokio Marine Asset Management Co. Ltd. increased its position in Sempra Energy by 9.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,348 shares of the utilities provider’s stock worth $826,000 after buying an additional 479 shares during the period. Daiwa Securities Group Inc. increased its position in Sempra Energy by 6.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 39,756 shares of the utilities provider’s stock worth $6,144,000 after buying an additional 2,321 shares during the period. Finally, Aviva PLC increased its position in Sempra Energy by 8.7% during the 3rd quarter. Aviva PLC now owns 153,635 shares of the utilities provider’s stock worth $23,039,000 after buying an additional 12,260 shares during the period. Institutional investors own 84.75% of the company’s stock.

About Sempra Energy

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Sempra Energy is an energy-service holding company, which engages in the development and operation of energy infrastructure, and provision of electric and gas services. It operates through the following segments: San Diego Gas and Electric Company (SDG&E), Southern California Gas Company (SoCalGas), Sempra Texas Utilities, Sempra Mexico, and Sempra LNG.