Sempra [NYSE: SRE] traded at a low on Thursday, posting a -0.18 loss after which it closed the day’ session at $70.84. The company report on March 19, 2024 at 6:55 AM that SoCalGas Joins Lawrence Livermore National Laboratory and Electrochaea to Help Advance Gas Infrastructure Decarbonization.
This innovative technology could help revolutionize biomethane production and help decarbonize gas infrastructure by displacing traditional natural gas with carbon-neutral synthetic biomethane.
Southern California Gas Company (SoCalGas) today announced its collaboration with Electrochaea and Lawrence Livermore National Laboratory (LLNL) on an innovative research project that aims to develop a single-stage electro-bioreactor to transform excess renewable electricity and biogas into carbon-neutral synthetic biomethane, also known as renewable natural gas (RNG). This approach could mark a significant advancement in power to gas technology and underscores the viability of potential for synthetic biomethane to help decarbonize natural gas infrastructure and its end uses from residential heating to manufacturing industries and transportation. SoCalGas has contributed to the project’s technical development and helped provide funding, which was also supported by a $1 million grant from the Department of Energy (DOE).
The results of the trading session contributed to over 4808971 shares changing hands. Over the past one week, the price volatility of Sempra stands at 1.51% while the volatility over the past one month is 1.65%.
The market cap for SRE stock reached $44.78 billion, with 632.15 million shares outstanding and 631.87 million shares in the current float. Compared to the average trading volume of 2.90M shares, SRE reached a trading volume of 4808971 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $83.25 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 1.19, with the Price to Sales ratio for SRE stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 1.61, with the Price to Cash per share for the same quarter was set at 0.45.
How has SRE stock performed recently?
Sempra [SRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.58. With this latest performance, SRE shares gained by 0.90% in over the last four-week period, additionally plugging by 6.78% over the last 6 months – not to mention a drop of -5.28% 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 50.16, with the RSI for the last a single of trading hit 50.51, and the three-weeks RSI is set at 49.50 for Sempra [SRE]. The present Moving Average for the last 50 days of trading for this stock 70.70, while it was recorded at 71.36 for the last single week of trading, and 71.82 for the last 200 days.
Sempra [SRE]: Deeper insight into the fundamentals
Sempra’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.49 and a Current Ratio set at 0.54.
Earnings analysis for Sempra [SRE]
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 5.90%.
Insider trade positions for Sempra [SRE]
The top three institutional holders of SRE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SRE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SRE stock with ownership which is approximately 5.8386%.
