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Potential Price Increase for Sempra (SRE) After Recent Insider Activity

In a filing, Sempra revealed its SVP, Controller and CAO WALL PETER R unloaded Company’s shares for reported $0.46 million on Jun 18 ’24. In the deal valued at $75.07 per share,6,100 shares were sold. As a result of this transaction, WALL PETER R now holds 14,751 shares worth roughly $1.11 million.

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Then, MARK RICHARD J bought 1,925 shares, generating $150,092 in total proceeds. Upon buying the shares at $77.97, the Director now owns 5,420 shares.

Before that, BIRD JUSTIN CHRISTOPHER sold 6,278 shares. Sempra shares valued at $443,227 were divested by the Executive Vice President at a price of $70.60 per share. As a result of the transaction, BIRD JUSTIN CHRISTOPHER now holds 13,434 shares, worth roughly $1.01 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 -0.28% to $75.27. Over the last five days, the stock has lost -1.14%. Sempra shares have risen nearly 0.72% since the year began. Nevertheless, the stocks have risen 1.37% 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 $74.17, while 200 days put it at $72.19. A total of 5.27 million shares were traded, compared to the trading of 1.89 million shares in the previous session.

Levels Of Support And Resistance For SRE Stock

The 24-hour chart illustrates a support level at 74.84, which if violated will result in even more drops to 74.41. On the upside, there is a resistance level at 76.10. A further resistance level may holdings at 76.93. The Relative Strength Index (RSI) on the 14-day chart is 49.02, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.47%. Stochastics %K at 33.10% 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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