Sempra [NYSE: SRE] loss -0.10% on the last trading session, reaching $70.60 price per share at the time. The company report on February 27, 2024 at 7:05 AM that ONCOR REPORTS 2023 RESULTS; ANNOUNCES $24.2 BILLION 2024-2028 CAPITAL PLAN.
Oncor Electric Delivery Company LLC (“Oncor”) today reported twelve months ended December 31, 2023 net income of $864 million compared to twelve months ended December 31, 2022 net income of $905 million. This $41 million decrease was driven by higher costs associated with increases in invested capital (primarily borrowing costs and depreciation), higher operation and maintenance expense (primarily regulatory asset amortization and self-insurance reserve accrual recovery amounts in new base rates) and the write-off of rate base disallowances recorded in the first quarter of 2023 resulting from the Public Utility Commission of Texas’ (“PUCT”) final order in Oncor’s comprehensive base rate review in PUCT Docket No. 53601, partially offset by higher revenues primarily attributable to updated interim rates to reflect increases in invested capital, increases in transmission billing units as a result of certain increases in average Electric Reliability Council of Texas, Inc. (“ERCOT”) peak demand, the new base rates implemented May 1, 2023 following the PUCT’s final order in the base rate review and customer growth.
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“Texas continues to secure major investments from world-class companies like Oncor to further bolster our critical infrastructure and the resiliency of the Texas electric grid,” said Governor Greg Abbott. “Oncor’s announcement today of a new $24.2 billion, five-year capital expenditures plan is a testament to Texas’ ongoing partnerships with companies to boost economic growth in our state in tandem with making our state’s electric grid more reliable and resilient for generations to come. As Texas’ population and economy continues to grow, I look forward to continuing to work with electricity providers like Oncor to help build an even bigger, better Texas for all.”.
If compared to the average trading volume of 3.08M shares, SRE reached a trading volume of 4628581 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Sempra [SRE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SRE shares is $82.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SRE stock is a recommendation set at 1.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Sempra shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 11, 2024. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on January 03, 2024, representing the official price target for Sempra stock. Previously, the target price had yet another raise from $78 to $86, while JP Morgan kept a Overweight rating on SRE stock.
The Average True Range (ATR) for Sempra is set at 1.21, with the Price to Sales ratio for SRE stock in the period of the last 12 months amounting to 2.68. The Price to Book ratio for the last quarter was 1.60, with the Price to Cash per share for the same quarter was set at 0.45.
Trading performance analysis for SRE stock
Sempra [SRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.01. With this latest performance, SRE shares dropped by -1.85% in over the last four-week period, additionally sinking by -1.55% over the last 6 months – not to mention a drop of -5.84% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SRE stock in for the last two-week period is set at 45.60, with the RSI for the last a single of trading hit 45.88, and the three-weeks RSI is set at 45.66 for Sempra [SRE]. The present Moving Average for the last 50 days of trading for this stock 72.57, while it was recorded at 71.04 for the last single week of trading, and 72.11 for the last 200 days.
Sempra [SRE]: A deeper dive into fundamental analysis
Sempra’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 0.54.
Sempra [SRE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Sempra posted 1.46/share EPS, while the average EPS was predicted by analysts to be reported at 1.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SRE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sempra go to 4.14%.
An analysis of Institutional ownership at Sempra [SRE]
The top three institutional holders of SRE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SRE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SRE stock with ownership which is approximately 5.8325%.
