Sempra Energy Stock Price, News & Analysis

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.

Oncor Electric Delivery Company reported a net income of $169 million for Q2 2021, down from $176 million in Q2 2020. The decrease was attributed to rising operational expenses and investment costs, despite increased revenues from transmission and distribution rates. For the first half of 2021, net income rose to $337 million, up from $307 million in 2020. Oncor plans to increase its 2021 capital expenditures to $2.5 billion and aims for a total of $14 billion through 2026 to support Texas's growth in electric demand.

Sempra (SRE) reported second-quarter 2021 earnings of $424 million or $1.37 per diluted share, a sharp decline from $2.239 billion or $7.61 per share in Q2 2020. Adjusted earnings were $504 million or $1.63 per diluted share, slightly up from $501 million or $1.71 per share year-over-year. Year-to-date earnings reached $1.298 billion, down from $2.999 billion in 2020. The company updated its 2021 GAAP EPS guidance to a range of $7.41 to $8.01, affirming adjusted EPS guidance of $7.75 to $8.35.

On August 4, 2021, Southern California Gas Co. (SoCalGas) announced the declaration of regular quarterly dividends for its preferred series stock, amounting to $0.375 per share for both the preferred stock and Series A preferred stock. The dividends will be payable on October 15, 2021, to shareholders of record as of September 10, 2021. SoCalGas, a subsidiary of Sempra, serves 21.8 million consumers and is committed to enhancing its infrastructure while aiming for net-zero greenhouse gas emissions by 2045.