Sempra Energy Stock Price, News & Analysis

Oncor Electric Delivery Company reported a net income of $770 million for 2021, up $57 million from 2020. The increase was driven by higher revenues from base transmission and distribution rates, despite rising operational costs. In 2021, Oncor connected 70,000 new customers and recorded a 2% annual growth rate. Capital expenditures reached $2.5 billion with an anticipated $2.8 to $3.0 billion planned for 2022. The company maintains a strong liquidity position of approximately $2.8 billion as of February 2022.

Sempra (SRE) reported full-year 2021 earnings of $1.25 billion ($4.01 per diluted share), down from $3.76 billion ($12.88 per diluted share) in 2020. Adjusted earnings increased to $2.64 billion ($8.43 per diluted share) from $2.34 billion ($8.00 per diluted share). The company plans over $36 billion in capital investments over the next five years, focusing on U.S. utility growth, with rate base rising from $14 billion to $62 billion by 2026. A quarterly dividend of $1.145 per share was declared, marking the 12th straight year of dividend increases.

Southern California Gas Co. (SoCalGas) supports the California Public Utilities Commission's (CPUC) decision to implement a renewable gas standard, marking California as the first state to do so. By 2030, SoCalGas must replace 12.2% of the gas it delivers with renewable gas, with an interim goal of 3% by 2025. This initiative aligns with SoCalGas's aim to achieve net-zero greenhouse emissions by 2045. The renewable gas standard, born from Senate Bill 1440, aims to reduce short-lived climate pollutants and methane emissions, enhancing California's clean energy transition.

In 2021, Southern California Gas Co. (SoCalGas) distributed 14 billion cubic feet of renewable natural gas (RNG) from organic waste, surpassing 2020's 12 billion. This achievement equates to removing 166,896 cars from California roads annually. The utility aims for 20% RNG delivery to core customers by 2030 as part of its commitment to achieve net-zero greenhouse gas emissions by 2045. SoCalGas executed five RNG interconnection projects and launched the largest landfill-diverted organics-to-RNG facility in North America, enhancing California's decarbonization efforts.

Sempra Infrastructure's president, Dan Brouillette, has been elected to the U.S. Chamber of Commerce's U.S.-Japan Business Council (USJBC) board. Brouillette, also co-chair of the USJBC's Energy & Infrastructure Working Group, aims to strengthen U.S.-Japan commercial relations, particularly in clean energy and natural gas. Japan is a significant market for U.S. LNG, supporting energy transition efforts. Sempra Infrastructure focuses on sustainability and innovation in energy solutions.

Southern California Gas Company (SoCalGas) has proposed the Angeles Link, a groundbreaking green hydrogen infrastructure system aimed at decarbonizing the Los Angeles Basin. This initiative targets a significant reduction in greenhouse gas emissions, displacing up to 3 million gallons of diesel per day and nearly 25,000 tons of smog-forming NOx annually. If approved, the Angeles Link could provide green hydrogen equivalent to 25% of SoCalGas's current natural gas delivery, aligning with California's climate goals and enhancing energy reliability.

The board of directors of Southern California Gas Co. (SoCalGas) has declared a quarterly dividend of $0.375 per share for its preferred series stock, including Series A. This dividend is payable on April 15, 2022, to shareholders of record on March 10, 2022. As the largest gas distribution utility in the U.S., SoCalGas serves 21.8 million consumers across 24,000 square miles of California, emphasizing its role in the state's clean energy transition.

San Diego Gas & Electric (SDG&E) has received authorization from the California Public Utilities Commission (CPUC) to construct three new energy storage facilities totaling 161 MW and 644 MWh. These facilities aim to enhance energy supply during high-demand periods, benefiting over 100,000 homes for up to four hours. This initiative supports California's climate goals and grid resilience, connecting to the state energy market for balanced supply and demand. SDG&E also plans additional lithium-ion battery projects in Kearny Mesa and Fallbrook.

Southern California Gas Co. (SoCalGas), Young's Commercial Transfer (YCT), and OPAL Fuels showcased the transition of YCT's fleet to renewable natural gas (RNG) during the World Ag Expo. YCT plans to increase its natural gas truck fleet from 80 to 110 by March and aims for 75% conversion to RNG by year's end. RNG significantly reduces emissions and offers cost savings. SoCalGas emphasizes RNG's role in California's climate goals and has facilitated the replacement of over 550 diesel trucks since 2014.