Sempra Energy Stock Price, News & Analysis

Sempra Infrastructure has signed a heads of agreement (HOA) with Williams for LNG offtake and development of gas pipelines to enhance U.S. natural gas market connectivity. The agreement includes negotiating long-term contracts for roughly 3 million tonnes per annum (Mtpa) of LNG from Port Arthur and Cameron LNG Phase 2 projects. Additionally, a partnership to manage the 2.35 Bcfd Cameron Interstate Pipeline is anticipated. This allows Sempra to advance its LNG initiatives amid growing global energy demands. However, the HOA remains non-binding and subject to various risks.

Southern California Gas Company (SoCalGas) is collaborating with Google Nest and local non-profits to help customers manage rising energy costs. As part of this initiative, SoCalGas is providing energy-saving resources and has donated 500 ENERGY STAR® certified smart thermostats. The partnership includes the launch of the 'Ways to Save Tool,' offering personalized recommendations and assistance programs for effective energy usage. This effort aims to mitigate the financial impact of winter energy expenses on consumers, especially vulnerable communities.

San Diego Gas & Electric (SDG&E) and General Motors (GM) announced a collaboration to explore bidirectional Electric Vehicles (EVs) integration into the electric grid. The study will assess Vehicle-to-Grid Integration (VGI) capabilities such as Vehicle-to-Home and Virtual Power Plants. This initiative aims to bolster energy reliability and community resilience against climate change. The agreement aligns with the U.S. Department of Energy’s Vehicle-to-Everything memorandum to enhance energy security and economic growth.

Sempra has been recognized as a Trendsetter in corporate political disclosure for the seventh consecutive year, scoring 94 out of 100 on the 2022 CPA-Zicklin Index. This index, produced by the Center for Political Accountability and the University of Pennsylvania, evaluates the political spending practices of S&P 500 and Russell 1000 companies. Sempra's strong corporate governance and sustainable practices underpin this achievement. Additionally, the company was included in Newsweek's 'America's Most Responsible Companies' and Fortune's 'World Most Admired Companies' lists in 2022.

Oncor Electric Delivery Company reported a net income of $318 million for Q3 2022, up from $258 million in Q3 2021, driven by increased revenues from higher customer consumption and updates to transmission rates. The company's total distribution base revenues rose 9.2% year-over-year. For the nine months ended September 30, net income reached $741 million, marking a significant increase from $595 million in the same period last year. Oncor is experiencing robust service territory growth, with a notable increase in interconnection requests, particularly in solar energy.

Sempra (NYSE: SRE) reported Q3 2022 earnings of $485 million ($1.53 per share), a turnaround from a loss of $648 million in Q3 2021. Adjusted earnings rose to $622 million ($1.97 per share) compared to $545 million in the previous year. For the full year 2022, Sempra updated its GAAP EPS guidance to $7.07-$7.37 and adjusted EPS guidance to $8.70-$9.00. The Port Arthur LNG Phase 1 project expects a final investment decision in Q1 2023, alongside progress on other clean energy initiatives. Sempra's nine-month earnings were $1.656 billion ($5.23 per share), up from $650 million in 2021.

Southern California Gas has partnered with Emerson to showcase its innovative residential microgrid, the [H2] Innovation Experience, in Southern California. This project, one of the first of its kind in the U.S., integrates renewable hydrogen production through solar energy, enabling carbon-free gas utilization in home energy systems. The setup includes a solar array, energy storage, and an electrolyzer. This initiative aligns with California's goals for net-zero emissions, supporting sustainable power demand and highlighting advanced automation technologies.

Sempra Infrastructure has secured a 20-year power purchase agreement with Silicon Valley Power to supply renewable energy from the Cimarrón wind project in Baja California, Mexico. The 300 MW facility aims to produce enough energy for over 84,000 homes and reduce greenhouse gas emissions by approximately 210,000 metric tons of CO_2-eq annually. The project will create over 2,000 jobs in Mexico. However, development faces risks related to securing commercial agreements and necessary permits.