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BMO Capital Markets upgrades Sempra (SRE) rating to an Outperform

Sempra’s recent filing unveils that its Director MARK RICHARD J acquired Company’s shares for reported $0.15 million on May 17 ’24. In the deal valued at $77.97 per share,1,925 shares were bought. As a result of this transaction, MARK RICHARD J now holds 5,420 shares worth roughly $0.41 million.

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Then, BIRD JUSTIN CHRISTOPHER sold 6,278 shares, generating $443,227 in total proceeds. Upon selling the shares at $70.60, the Executive Vice President now owns 13,434 shares.

Before that, Sedgwick Karen L sold 3,624 shares. Sempra shares valued at $255,818 were divested by the Executive VP and CFO at a price of $70.59 per share. As a result of the transaction, Sedgwick Karen L now holds 39,400 shares, worth roughly $2.99 million.

BMO Capital Markets upgraded its Sempra [SRE] rating to an Outperform from a a Market perform in a research note published on January 11, 2024; the price target was increased to $84 from $76. A number of analysts have revised their coverage, including Ladenburg Thalmann’s analysts, who began to cover the stock in early January with a ‘”a Buy”‘ rating. JP Morgan also remained covering SRE and has increased its forecast on December 12, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Barclays started covering the stock on August 23, 2023. It rated SRE as “an Overweight”.

Price Performance Review of SRE

On Friday, Sempra [NYSE:SRE] saw its stock fall -0.22% to $75.97. Over the last five days, the stock has gained 0.85%. Sempra shares have risen nearly 1.66% since the year began. Nevertheless, the stocks have risen 3.16% over the past one year. While a 52-week high of $78.83 was reached on 05/21/24, a 52-week low of $63.75 was recorded on 04/16/24. SMA at 50 days reached $73.82, while 200 days put it at $72.08. A total of 2.61 million shares were traded, compared to the trading of 2.4 million shares in the previous session.

Levels Of Support And Resistance For SRE Stock

The 24-hour chart illustrates a support level at 75.26, which if violated will result in even more drops to 74.55. On the upside, there is a resistance level at 76.39. A further resistance level may holdings at 76.80. The Relative Strength Index (RSI) on the 14-day chart is 53.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.90%. Stochastics %K at 56.79% indicates the stock is a holding.

The most recent change occurred on June 08, 2023 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $178 price target.

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