Sempra Energy Stock Price, News & Analysis

Oncor Electric Delivery Company LLC will release its third quarter 2021 results on November 5, prior to Sempra’s (NYSE: SRE) conference call. The earnings release will be accessible on Oncor's website. A conference call led by Sempra executives will occur at 12 p.m. ET that same day, discussing Oncor's operational and financial performance. Additionally, Oncor's quarterly report for the period ended September 30, 2021 will be filed with the SEC following the call. Oncor delivers electricity to over 3.8 million homes and businesses in Texas.

Sempra (NYSE: SRE) will announce its third-quarter 2021 earnings on November 5 at 7 a.m. ET, with a conference call scheduled for 12 p.m. ET the same day. Investors can access the live webcast on the company's website. A detailed slide presentation regarding the earnings will also be available at the same time. As of the end of 2020, Sempra had over $66 billion in total assets and serves more than 36 million consumers. The company is recognized for its commitment to sustainable energy practices and is included in the Dow Jones Sustainability World Index.

Southern California Gas Co. (SoCalGas) is testing hydrogen blending with natural gas in household appliances at its Engineering Analysis Center. Preliminary results show that appliances can operate effectively with a 20% hydrogen blend, supporting SoCalGas' goal of achieving net zero emissions by 2045. This innovative testing positions SoCalGas as a leader in hydrogen integration within natural gas infrastructure. Additionally, the company is engaged in over 10 hydrogen pilot projects and plans to break ground on the H2 Hydrogen Home project, aimed at demonstrating renewable energy solutions.

Southern California Gas Co. (SoCalGas) has reached agreements aimed at resolving most civil litigation surrounding the 2015 Aliso Canyon natural gas leak, leading to an after-tax charge of approximately $1.1 billion. The agreements require about 97% participation from approximately 36,000 plaintiffs and court approval. SoCalGas has enhanced safety measures at the facility since 2017, implementing industry-leading technologies for improved operational safety. These settlements will not impact ratepayers, representing a significant step towards closure for the company and affected communities.

Sempra (NYSE: SRE) announced strategic developments on Sept. 27, 2021, including the completion of a partnership with KKR, set for Oct. 1, to sell a 20% interest in Sempra Infrastructure. This initiative aims to bolster shareholder value through consolidation of energy infrastructure and investment in growth opportunities. Additionally, agreements to resolve Aliso Canyon litigation will lead to a $1.1 billion after-tax charge, with expected net outflows of approximately $895 million. Sempra updated its 2021 earnings guidance, projecting EPS between $7.75 and $8.35.

Sempra Foundation has announced a donation of over $200,000 to GRID Alternatives for the installation of five solar projects in Mexico, aimed at enhancing energy access for vulnerable communities. These projects are expected to provide 68 kW of solar capacity and help benefit 40 families. The initiative will also avoid approximately 1,930 metric tons of greenhouse gas emissions, equating to planting over 32,000 trees. The projects include training for 60 local renewable energy students, focusing on environmental justice.

On Sept. 21, 2021, Renewable Energy Systems (RES) and San Diego Gas & Electric (SDG&E) announced the successful commencement of commercial operations for a 30 MW/120 MWh lithium-ion battery storage system named Top Gun in San Diego, California. This facility, constructed with over 15,000 lithium-ion batteries, aims to enhance grid reliability and support renewable energy usage. RES will provide operations and maintenance services for the next 20 years. Energy storage projects like Top Gun are critical in addressing climate change and preventing power outages during extreme weather events.

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.