Sempra Energy Stock Price, News & Analysis

Sempra (NYSE: SRE) announced the results of its cash tender offer to acquire the remaining 3.6% of IEnova shares not owned by the company. The offer expired on Sept. 10, 2021, and Sempra accepted 51,014,545 shares, totaling 4,029 million Mexican pesos at 78.97 pesos per share. This acquisition will increase Sempra's ownership in IEnova to 99.9%. Following the offer, IEnova plans to delist from the Mexican Stock Exchange. Sempra aims to strengthen its energy infrastructure in Mexico through IEnova's ongoing growth.

SoCalGas has commenced purchasing renewable electricity through Southern California Edison's Green Rate Program, aiming to acquire nearly 53.7 million kilowatt hours annually. This initiative is expected to decrease greenhouse gas emissions by 38,000 metric tons, the equivalent of removing over 8,000 gasoline-powered cars from the road each year. This renewable energy will supply 69 facilities, covering 80% of their electricity needs, aligning with SoCalGas's goal of achieving net zero emissions by 2045. The company also plans to transition its fleet to zero-emission vehicles by 2035.

Enervee has launched Eco Financing™, a program designed to enhance affordability for energy-efficient appliance purchases. In partnership with One, SoCalGas, and Best Buy, consumers can access loans up to $5,000 with no money down and low monthly payments. The initiative, available to SoCalGas's 5.7 million customers initially, aims to support California's energy efficiency goals and facilitate $25 million in home improvements since 2016. The program is part of the Residential Energy Efficiency Loan (REEL) initiative.

Sempra (NYSE: SRE) and Sempra LNG announced a donation of $100,000 to support Hurricane Ida relief efforts in Louisiana, specifically benefiting the Second Harvest Food Bank of Greater New Orleans and Acadiana. This contribution underscores Sempra's commitment to the community, having previously pledged nearly $1 million in support of Louisiana's recovery from natural disasters and the COVID-19 pandemic. Sempra LNG, which owns 50.2% of the Cameron LNG export facility, aims to be North America's premier LNG infrastructure company, focusing on sustainable energy solutions.

Sempra's board has declared a $1.10 quarterly dividend on common stock, payable on Oct. 15, 2021, to shareholders of record by Sept. 24, 2021. Additionally, a semi-annual dividend of $24.375 per share on its Series C Preferred Stock will also be payable on the same date to record shareholders as of Oct. 1, 2021. With over $66 billion in total assets and a workforce of over 19,000, Sempra aims to be North America's leading energy infrastructure company, recognized for its sustainable practices.

On September 1, 2021, Southern California Gas Co (SoCalGas) and Hyzon Motors (NASDAQ: HZYN) announced a partnership to develop a hydrogen-powered fuel cell electric utility truck. This initiative aligns with SoCalGas' NetZero 2045 climate commitment to transition to a zero-emissions fleet by 2035. The Class 3 utility truck, set for delivery by 2022, will feature a maximum power of 200 kilowatts and a 300-mile range. This collaboration aims to advance California's climate goals and reduce greenhouse gas emissions from the transportation sector.

Sempra (NYSE: SRE) has launched a cash tender offer to acquire the remaining 3.6% of outstanding shares of IEnova, aiming to purchase 52,227,526 shares at a price of 78.97 Mexican pesos each. This offer follows Sempra's recent exchange offer that increased its ownership of IEnova to 96.4%. The cash tender offer is scheduled to expire on Sept. 10, 2021, with a potential settlement on Sept. 17, 2021. If completed, Sempra will maintain a trust for six months to purchase any publicly held IEnova shares not acquired in the tender offer.