Sempra [SRE] is -5.53% lower this YTD. Is it still time to buy?

Sempra [NYSE: SRE] loss -0.06% or -0.04 points to close at $70.60 with a heavy trading volume of 3396697 shares. The company report on March 6, 2024 at 6:45 AM that SoCalGas Exceeds California’s Supplier Diversity Procurement Goal for 31st Consecutive Year, Purchasing Over 44% of all Goods and Services from Diverse Businesses in 2023.

Over $1 billion spent with minority, women, disabled veteran, and/or LGBT-owned businesses; nearly 87% of businesses based in California.

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Today, SoCalGas announced the company exceeded the 2023 California Public Utilities Commission’s (CPUC) diverse spending goal* for a 31st consecutive year, purchasing over 44% of all goods and services from 618 diverse suppliers – enterprises owned by minorities, women, LGBT individuals, and disabled veterans, according to the company’s annual Supplier Diversity Report submitted recently to the CPUC. This achievement was reached through the company’s continuing efforts to help increase the pool of diverse suppliers through broad outreach and education.

The daily chart for SRE points out that the company has recorded 1.42% gains over the past six months.

If we look at the average trading volume of 2.96M shares, SRE reached to a volume of 3396697 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 $82.67 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 1.27, with the Price to Sales ratio for SRE stock in the period of the last 12 months amounting to 2.69. 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 0.00. With this latest performance, SRE shares gained by 1.20% in over the last four-week period, additionally plugging by 1.42% over the last 6 months – not to mention a drop of -4.79% 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 47.20, with the RSI for the last a single of trading hit 48.45, and the three-weeks RSI is set at 46.71 for Sempra [SRE]. The present Moving Average for the last 50 days of trading for this stock 72.22, while it was recorded at 70.41 for the last single week of trading, and 72.04 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%.