Welcome to our dedicated page for Sempra Energy news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra Energy stock.
Sempra (NYSE: SRE) generates frequent news as a North American energy infrastructure company with major regulated utilities and large-scale energy projects. Public announcements often highlight developments at its California utilities, San Diego Gas & Electric Company (SDG&E) and Southern California Gas Company (SoCalGas), as well as at its Texas affiliate Oncor Electric Delivery Company LLC and its LNG-focused Sempra Infrastructure businesses.
Investors following SRE news can expect regular updates on quarterly earnings, dividend declarations, regulatory proceedings and capital plans. Recent press releases have covered common and preferred dividend announcements, detailed quarterly financial results, and guidance updates. Sempra also issues news about strategic transactions, such as the agreement to sell a 45% equity interest in Sempra Infrastructure Partners to a KKR-led consortium, which is designed to support its utility-focused capital campaign and adjust its business mix.
Subsidiary-level news is also significant. SDG&E has reported recognition for reliability performance in the Western Region and described investments in grid enhancements, safety programs and wildfire mitigation. SoCalGas issues releases on preferred stock dividends and provides background on its role as a large gas distribution utility in Central and Southern California. Oncor regularly reports its quarterly results, capital spending plans and progress on major transmission and distribution projects across Texas.
News related to Sempra Infrastructure often focuses on LNG projects, including final investment decisions, long-term offtake agreements and investor equity arrangements for projects such as Port Arthur LNG Phase 2. Together, these updates give readers insight into how Sempra manages regulatory issues, funds large capital programs and advances energy infrastructure projects. This page aggregates such company and subsidiary announcements so readers can review the latest SRE-related developments in one place.
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.
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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.
San Diego Gas & Electric (SDG&E) announced its wildfire mitigation efforts for the 2021 season, focusing on reducing Public Safety Power Shutoff (PSPS) impacts and enhancing regional resilience. Key initiatives include strategic undergrounding, expansion of the generator grant program, and the implementation of advanced technologies like state-of-the-art flow batteries and mobile power stations. These improvements aim to benefit nearly 11,000 customers and support sustainability goals, with a commitment to integrating clean energy solutions while ensuring safety during wildfire threats.
Southern California Gas Company (SoCalGas) is collaborating with Sierra Northern Railway and Gas Technology Institute to develop a zero-emission hydrogen fuel cell engine for switcher locomotives. The California Energy Commission has awarded nearly $4 million for this project, with SoCalGas contributing $500,000. This initiative aims to replace high-emission diesel locomotives, potentially eliminating over 100 metric tons of CO2 annually and significantly improving air quality in California's port areas. The project aligns with SoCalGas's goal of achieving net zero greenhouse gas emissions by 2045.