Sempra Energy (SRE) 10/20/09 PriceWatch Alert With Support Around $52.28
Posted: Tuesday, October 20, 2009 8:10 AM EDT
By: Market Intelligence Center Staff
Sempra Energy (NYSE: SRE) closed yesterday at $53.55. So far the stock has hit a 52-week low of $36.12 and 52-week high of $53.75. Sempra Energy stock has been showing support around 52.28 and resistance in the 54.38 range. Technical indicators for the stock are Bullish 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 Dec '09 55 covered call (SRE LK) for a net debit in the $52.50 area. That is also the break even stock price for this trade. This covered call has a 60 day duration, provides 1.96% downside protection and a 4.76% assigned return rate for a 28.97% annualized return rate (comparison purposes only). Sempra Energy has a current annual dividend yield of 2.95%. [ATU-Seven Summits Research]
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