Sempra Energy (SRE) 9/28/09 PriceWatch Alert With Support Around $49.22
Posted: Monday, September 28, 2009 8:18 AM EDT
By: Market Intelligence Center Staff
Sempra Energy (NYSE: SRE) ended the last trading session at $49.59. So far the stock has hit a 52-week low of $34.29 and 52-week high of $53.67. Sempra Energy stock has been showing support around 49.22 and resistance in the 50.20 range. Technical indicators for the stock are Neutral and S&P gives SRE a very positive 5 STAR (out of 5) strong buy rating. SRE appears on the Investors Observer Hedged Dividend Income list. For a hedged play on this stock, look at a Nov '09 50 covered call (SRE KJ) for a net debit in the $47.94 area. That is also the break even stock price for this trade. This covered call has a 54 day duration, provides 3.33% downside protection and a 4.30% assigned return rate for a 29.04% annualized return rate (comparison purposes only). Sempra Energy has a current annual dividend yield of 3.12%. [ABR-Seven Summits Research]
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