Sempra Energy (NYSE: SRE) had its Buy rating reiterated by equities researchers at Argus in a research note to investors. The company currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $118.92, higher than the opening price of $108.18. Sempra Energy stock has a 52-week high of $114.66. Stock prices sometimes get a spike to the upside when analysts reiterate coverage.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Sempra Energy (NYSE: SRE) shares last traded at $108.83, which represents a jump of $0.89 over the previous closing price. Opening at $108.18, they fluctuated from $108.16 and $109.49 throughout the day.
Sempra Energy (NYSE: SRE) now has a market cap of 27.22B.
313,292 shares traded hands yesterday, 11 percent lower than the norm, out of a total float 249,758,000. Swing traders often use upticks in trading volume to identify heavy volume growth or distribution by institutional investors, so look for trading volume to pick up in the coming days.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are researching.
By following the activity of these professional investors—and the moving averages they affect—it allows for traders to make more useful choices on trades.
With that in mind, Sempra Energy (NYSE: SRE) now has a 50-day MA of $106.41 and 200-day MA of $106.42. It has traded in a 52-week range between $86.72 – 114.66 and today’s last price is 0.05% lower than the 52 week high of $114.66.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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