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.
Southern California Gas Co. (SoCalGas) announced it led the U.S. in energy savings among natural gas utilities in 2020, conserving energy equivalent to powering 100,000 homes. The company invested significantly in energy efficiency programs, saving customers over $44 million and reducing greenhouse gas emissions by more than 211,000 metric tons. SoCalGas has helped 1.5 million households and businesses save energy costs, generating over $1 billion in avoided energy costs in the past five years. The utility aims to promote sustainability and reduce natural gas use through various rebate and assistance programs.
Southern California Gas Co. (SoCalGas) has announced $50,000 in grants to support minority female students in STEM through the Society of Extraordinary Women and the Pasadena Delta Foundation. Each organization will receive $25,000 to provide resources for education in science, technology, engineering, and math. The funds will assist in expanding programs, providing internet access, and offering scholarships to underrepresented students. This initiative aligns with SoCalGas's commitment to diversity, equity, and inclusion, aiming to enhance opportunities for students in traditionally male-dominated career paths.
On March 11, 2021, Southern California Gas Co. (SoCalGas) announced a donation of $50,000 to the Latino Restaurant Association (LRA). The funds will support the Feeding Frontliners campaign and a Restaurant Recovery Educational Boot Camp aimed at assisting around 100 minority restaurant owners. The initiative has already provided over 2,700 meals to healthcare workers since its inception in March 2020. SoCalGas has committed more than $3.5 million to various COVID-19 recovery efforts, focusing on community health and education.
Southern California Gas Co. (SoCalGas) has completed energy efficiency upgrades worth nearly $1 million at One Quail Place Apartments in Palm Desert, benefiting 791 residents. Key improvements include installing 11 high-efficiency boilers and various energy-saving devices, which are projected to reduce energy consumption by nearly 15% and save about 200,000 kilowatt-hours annually. This initiative is part of SoCalGas' Energy Savings Assistance (ESA) program, aimed at helping low-income housing communities while supporting California's climate goals.
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.