Sre stock price forecast in recent trading sessions

In recent trading sessions, the SRE stock price forecast shows potential upward momentum, driven by solid Q2 earnings and improved utility sector demand. Analysts project a 3–5% growth over the next quarter if natural gas prices stabilize. Technical charts indicate resistance near $73, with support around $ Naturally, investors were worried that the path to 50 basis point cuts for the rest of 2024 might not be so clear. However, even though rates might be high, the US economy continues to be the star performer globally. As per the IMF, the global economy is expected to grow by 3.2% in 2024 and 2025. This is the latest estimate in October, and the fact that it’s unchanged over the July estimate is solely due to the US. In its October report, the IMF revised US economic growth forecasts for 2024 and 2025 to 2.6% and 2.2%, while economies in the Middle East, Africa, and Central Asia saw downward revisions. Consequently, robust American economic growth made sure that the global estimates remained unchanged. Sempra Energy ( NYSE:SRE - Get Free Report ) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.07. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.35 billion. Sempra Energy had a return on equity of 8.42% and a net margin of 20.28%.The business's revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities analysts forecast that Sempra Energy will post 4.76 earnings per share for the current year. Insider Buying and Selling In other news, Director Kevin C. Sagara sold 28,864 shares of Sempra Energy stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $84.21, for a total transaction of $2,430,637.44. Following the completion of the sale, the director directly owned 15,475 shares in the company, valued at approximately $1,303,149.75. This trade represents a 65.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website . Also, SVP Alexander Lisa Larroque sold 1,576 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $80.00, for a total value of $126,080.00. Following the sale, the senior vice president directly owned 15,600 shares in the company, valued at $1,248,000. This trade represents a 9.18% decrease in their position. The disclosure for this sale can be found here . Over the last 90 days, insiders have sold 35,554 shares of company stock valued at $2,976,117. Corporate insiders own 0.27% of the company's stock. Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently made changes to their positions in the company. Caldwell Trust Co purchased a new position in Sempra Energy during the 2nd quarter valued at about $157,000. Valeo Financial Advisors LLC grew its position in shares of Sempra Energy by 78.7% in the second quarter. Valeo Financial Advisors LLC now owns 5,568 shares of the utilities provider's stock valued at $422,000 after purchasing an additional 2,453 shares during the last quarter. NWF Advisory Services Inc. increased its stake in shares of Sempra Energy by 24.0% during the 2nd quarter. NWF Advisory Services Inc. now owns 4,364 shares of the utilities provider's stock worth $331,000 after purchasing an additional 844 shares in the last quarter. SevenBridge Financial Group LLC increased its stake in shares of Sempra Energy by 13.4% during the 2nd quarter. SevenBridge Financial Group LLC now owns 55,907 shares of the utilities provider's stock worth $4,589,000 after purchasing an additional 6,588 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in Sempra Energy by 42.3% in the 2nd quarter. Osaic Holdings Inc. now owns 169,998 shares of the utilities provider's stock valued at $12,650,000 after buying an additional 50,566 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company's stock. About Sempra Energy ( Get Free Report ) Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County. See Also Five stocks we like better than Sempra Energy How to Calculate Retirement Income: MarketBeat’s Calculator Qualcomm’s RSI Just Hit Its High of the Year—Why That’s Bullish What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story 2 Ways to Trade Amazon Ahead of October’s Prime Day Low PE Growth Stocks: Unlocking Investment Opportunities Broadcom Price Targets Just Reached Above $400 for the First Time This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]. Should You Invest $1,000 in Sempra Energy Right Now? Before you consider Sempra Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sempra Energy wasn't on the list. While Sempra Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here The Next 7 Blockbuster Stocks for Growth Investors Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks. Get This Free Report Chartists note a symmetrical triangle pattern forming, which historically leads to trend continuation in the SRE stock price forecast. Breakout potential is estimated within the next two to three weeks depending on trading volume.