Sempra Energy Stock Price, News & Analysis

Southern California Gas Co. (SoCalGas) has launched its annual initiative to support fleet owners in the South Coast Air Quality Management District (SCAQMD) with incentive funding for transitioning from diesel to near-zero emissions natural gas trucks. A total of $36 million is available through the Carl Moyer Program, with eligible fleet owners able to receive up to $100,000 for each new natural gas truck and fueling station. The application period runs until June 1, 2021. This program aims to reduce California's transportation sector emissions, which account for 40% of the state's greenhouse gas emissions.

Southern California Gas Co. (SoCalGas) reported a record year in 2020, spending over $884.2 million with more than 550 diverse businesses, exceeding the California Public Utilities Commission's goal of 21.5% for the 28th consecutive year. The company procured nearly 42% of total goods from women and minority-owned enterprises. Additionally, SoCalGas marked significant contributions, including $568 million with minority-owned businesses and $243 million with women-owned firms. The company emphasized its continuing commitment to supplier diversity and plans for further investments in diverse suppliers.

San Diego Gas & Electric (SDG&E) reported a record $2 billion spent on goods and services in 2020, with 41.6% of that amount, or $872 million, directed to small and diverse suppliers. This exceeds the 21.5% goal set by California’s CPUC. SDG&E has consistently surpassed 40% for eight consecutive years. The company aims to support local economic recovery and job creation. Additionally, SDG&E partnered with the San Diego EDC to study local procurement's impact on job creation.

Sempra Energy (NYSE: SRE) announced a $1 million pledge through its foundation to aid Texas communities impacted by a severe winter storm. This follows a $250,000 donation for food relief in Houston and Southeast Texas and complements a $1 million contribution by Oncor Electric Delivery Company. These funds will provide essential resources such as food and water to affected residents. Since 2018, Sempra and its foundation have donated nearly $4 million to Texas nonprofits.

Oncor Electric Delivery Company reported a net income of $713 million for 2020, up from $651 million in 2019, driven by revenue growth from transmission and distribution rate updates. The company noted an increase in residential customer revenues of 0.9% despite a 0.8% decline from commercial customers. Oncor achieved a 2.1% organic growth rate in premises while also managing challenges from severe winter storms. The company plans capital expenditures of $2.4 billion in 2021 and expects sufficient liquidity for operations.

Sempra Energy reported a significant increase in full-year 2020 earnings of $3.76 billion, or $12.88 per diluted share, up from $2.06 billion in 2019. Adjusted earnings also rose to $2.35 billion, reflecting strong business growth. The board declared a quarterly dividend increase to $1.10 per share, leading to an annualized dividend of $4.40. Sempra's capital investments reached approximately $7 billion in 2020, with a focus on U.S. Utilities. The company is advancing its LNG projects and reaffirmed its 2021 EPS guidance of $7.50 to $8.10, supporting its commitment to a sustainable energy future.

The board of directors of Southern California Gas Co. (SoCalGas) has declared a quarterly dividend of $0.375 per share for its preferred stock and Series A preferred stock. These dividends will be payable on April 15, 2021, to shareholders recorded by March 10, 2021. SoCalGas operates as the largest gas distribution utility in the U.S., serving 21.8 million customers across 24,000 square miles of California. The company's mission focuses on providing renewable gas services while investing in infrastructure improvements.

On February 8, 2021, Southern California Gas Co. (SoCalGas) announced a $1.3 million investment to develop four innovative hydrogen fuel technologies, aiming to enhance emissions-free transportation in California. The initiative is part of a larger $11.7 million funding backed by the California Energy Commission to support clean hydrogen projects, including fuel-cell marine vessels and hydrogen refueling stations. SoCalGas is committed to advancing low- and zero-carbon technologies, aligning with California's climate goals for zero-emission vehicles by 2035.

On February 5, 2021, Southern California Gas Co. (SoCalGas) announced energy savings tips to assist customers in managing their utility bills during colder months. The utility noted that usage of natural gas can increase significantly in winter. To help, SoCalGas provides customer assistance programs, including discounts and free home improvements, aimed at reducing energy costs. Notable tips include lowering thermostats and sealing leaks. SoCalGas is committed to offering affordable natural gas while enhancing its infrastructure as part of a broader mission to transition to renewable energy sources.