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 Energy (NYSE: SRE) will hold a virtual Investor Day on June 29, 2021, to discuss its business strategy, operational highlights, and financial outlook. The event will commence at 12 p.m. ET, with presentation slides available by 7 a.m. ET on the same day. Investors and the public can access the live webcast on Sempra's website. Sempra Energy, a leading energy infrastructure company in North America, serves over 36 million consumers and holds over $66 billion in assets, recognized for its sustainable practices and commitment to diversity.
Southern California Gas Co. (SoCalGas) has invested over $150,000 in energy efficiency upgrades for four affordable housing communities in North Hollywood and Van Nuys, benefiting more than 220 residents. This initiative, part of SoCalGas' Energy Savings Assistance program, aims to reduce energy use, costs, and enhance living conditions. SoCalGas is committed to achieving net zero greenhouse gas emissions by 2045. In the past five years, their efficiency programs have saved over $241 million on natural gas bills and reduced greenhouse gas emissions by 1.15 million metric tons.
Sempra Energy (NYSE: SRE) announced the final results of its exchange offer for outstanding shares of IEnova, which expired on May 24, 2021. Sempra offered 0.0323 shares of its common stock for each IEnova share. In total, 381,015,194 IEnova shares were tendered, allowing Sempra to issue 12,306,777 shares and increase its ownership in IEnova to 96.4%. The settlement is anticipated on May 28, 2021, coinciding with Sempra's debut on the Mexican Stock Exchange, enhancing its Sempra Infrastructure platform and signaling strong growth potential in energy infrastructure.
The board of directors of Southern California Gas Co. (SoCalGas) announced regular quarterly dividends for its preferred series stock, set at $0.375 per share. The dividends will be paid on July 15, 2021, to shareholders on record by June 10, 2021. SoCalGas, a subsidiary of Sempra Energy (SRE), serves 21.8 million consumers across 24,000 square miles in California, emphasizing its commitment to affordable and clean energy. This includes a goal of achieving net-zero greenhouse gas emissions by 2045 and investing nearly $7.5 billion over five years for infrastructure upgrades.
Summary not available.
Sempra Energy (SRE) reported Q1 2021 earnings of $874 million, or $2.87 per share, up from $760 million, or $2.53 per share, in Q1 2020. Adjusted earnings rose to $900 million ($2.95 per share) from $741 million ($2.47 per share). The firm emphasized its focus on utilities and safety improvements. Sempra aims for net-zero GHG emissions by 2045 and is advancing its capital plans, particularly through Oncor. The company updated its 2021 GAAP EPS guidance to a range of $7.42 to $8.02, affirming adjusted EPS guidance of $7.50 to $8.10.
Summary not available.
On April 27, 2021, Southern California Gas Co. (SoCalGas) announced a $200,000 funding commitment to Zero Emission Industries for a hydrogen fuel cell technology project aimed at transforming small commercial marine vessels. This initiative aligns with California's climate goals by reducing greenhouse gas emissions from over 1 million vessels predominantly under 40 feet long. The project will test a modified commercial boat with a hydrogen powertrain for six months in the San Francisco Bay and Long Beach, showcasing SoCalGas's pledge for net-zero emissions by 2045.
Sempra Energy (NYSE: SRE) has launched an exchange offer to acquire all outstanding shares of IEnova not already owned by the company. This offer entails exchanging each IEnova share for 0.0323 shares of Sempra Energy's stock. The offer will expire on May 24, 2021. This initiative aims to simplify Sempra’s non-utility infrastructure investments under Sempra Infrastructure Partners, enhancing scale and synergy. Recently, Sempra announced a deal to sell a 20% interest in Sempra Infrastructure Partners to KKR for $3.37 billion, marking a significant step in its growth strategy.
Southern California Gas Co. (SoCalGas) announced the conversion of 200 new Ford F-250 service trucks to run on renewable natural gas (RNG), aiming to cut over 2,000 metric tons of CO2 equivalent emissions annually—equivalent to removing 1,800 cars from the roads for a year. With this initiative, nearly 40% of SoCalGas' service vehicles will utilize clean fuels. The company aims for net-zero greenhouse gas emissions by 2045 and is the largest gas utility in North America to set such a target, reflecting its commitment to sustainability and cleaner energy solutions.