Welcome to our dedicated page for Sempra Energy news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra Energy stock.
Sempra reports developments for a North American energy infrastructure company centered on regulated utility networks in California and Texas. Recurring news includes Sempra earnings, operational and financial results from Oncor, and updates from Southern California Gas Company and San Diego Gas & Electric on natural gas delivery, underground storage, grid reliability, customer affordability and energy resilience.
Company updates also cover utility capital plans, rate and regulatory mechanisms, customer growth, preferred dividend actions at SoCalGas, and capital-structure activity tied to financing energy infrastructure across Sempra's utility businesses.
SoCalGas announced that nonprofit organizations can apply for grants of up to $50,000 through the SoCal Climate Champions Grant Program. The initiative, which has awarded over $3 million since 2015, supports projects that reduce greenhouse gas emissions, improve air quality, or provide organic waste solutions. The application window runs from April 21 to June 21, with winners announced in October. Past recipients include the Orange County Conservation Corps and the Cal Poly Pomona Foundation, which used grants for climate resilience projects and energy storage systems. The program falls under SoCalGas's ASPIRE 2045 Sustainability Strategy, aiming for $50 million in community investments and a carbon-neutral future.
Sempra (NYSE: SRE) has declared a quarterly dividend of $0.62 per share on its common stock.
This dividend is payable on July 15, 2024, to shareholders who are on record by the close of business on June 27, 2024. The announcement highlights Sempra's commitment to providing consistent returns to its investors.
SoCalGas released its stand-alone chapter of parent company Sempra's 2023 Corporate Sustainability Report, showcasing its ASPIRE 2045 sustainability strategy aimed at achieving net-zero greenhouse gas emissions by 2045. The report highlights sustainability efforts such as methane emission reduction, green tariff enrollment, alternative fuel vehicle conversion, renewable natural gas delivery, energy efficiency programs, pipeline safety enhancements, diverse supplier spending, and community development initiatives. SoCalGas has been recognized for its sustainability goals and transformative efforts, earning awards for its innovative projects.
Sempra released its 2023 Corporate Sustainability Report, titled 'Ideas with Energy', showcasing its sustainable business practices to enhance its scale, resiliency, and risk profile. The report emphasizes the company's focus on modernizing energy infrastructure to drive success, with three growth platforms strategically positioned in key economic markets.
Oncor Electric Delivery Company reported a net income of $225 million for the first quarter of 2024, a $122 million increase from the same period in 2023. This growth was driven by higher revenues due to various factors, including updated rates, customer growth, and investments in system resiliency. The company filed a System Resiliency Plan (SRP) for approval with the Public Utility Commission of Texas, outlining investments of $2.9 billion in capital and $520 million in operation and maintenance expenses over three years. The SRP focuses on enhancing transmission and distribution system resiliency, cybersecurity, vegetation management, and wildfire mitigation. Operational highlights include a focus on safety, reliability, and continued growth in Texas. Oncor's available liquidity stands at $2.1 billion as of May 6, 2024.
Sempra reported first-quarter 2024 earnings of $801 million or $1.26 per diluted share, compared to $969 million or $1.53 per diluted share in 2023. Adjusted earnings were $854 million or $1.34 per diluted share, down from $922 million or $1.46 in 2023. The company remains focused on infrastructure-centered strategies to meet evolving energy needs, with investments in renewables, electric vehicles, and digital infrastructure. Sempra California is driving innovation in clean energy, including hydrogen blending projects, while Sempra Texas is investing in system resiliency with a $3 billion plan. Sempra Infrastructure is progressing on LNG and wind projects, aiming for operational excellence.
SoCalGas has been awarded the ENERGY STAR Partner of the Year award by the U.S. Environmental Protection Agency for the second year in a row. The utility was recognized for its dedication to energy efficiency, saving customers money, conserving energy, and transitioning to a net-zero emissions future. Through its programs, SoCalGas has saved customers millions of dollars, reduced greenhouse gas emissions, and helped households and businesses improve their energy efficiency.
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