Sempra Energy Stock Price, News & Analysis

The board of directors of Southern California Gas Co. (SoCalGas) has declared a regular quarterly dividend of $0.375 per share for its preferred stock, including Series A. The dividends are set to be payable on January 15, 2021, to shareholders recorded by December 10, 2020. SoCalGas, a subsidiary of Sempra Energy (SRE), is the largest gas distribution utility in the U.S., serving 21.8 million customers across 24,000 square miles of California. The company aims to replace 20% of its natural gas supply with renewable natural gas by 2030.

Sempra Energy (SRE) announced a quarterly dividend of $1.045 per share on its common stock, payable on January 15, 2021, for shareholders of record by December 18, 2020. Additionally, a dividend of $1.50 per share will be issued for its 6% Mandatory Convertible Preferred Stock, Series A, and $1.6875 for its 6.75% Mandatory Convertible Preferred Stock, Series B, also payable on January 15, 2021. With over $60 billion in total assets, Sempra continues to lead in the North American energy infrastructure market.

SoCalGas announced a $50,000 grant to the Los Angeles Urban League to support its virtual Construction Career Academy. The program, free for participants, trains individuals for careers in construction, mechanical fields, and engineering, aiming to increase access for minority workers. SoCalGas plans to hire up to 100 graduates who complete the program. Notably, 90% of CCA graduates have successfully passed industry exams and secured employment. This initiative aligns with SoCalGas's commitment to community investment and workforce development.

Sempra Energy (NYSE: SRE) announced that its subsidiary, ECA Liquefaction, has reached a final investment decision (FID) for the ECA LNG Phase 1 project in Baja California, Mexico. This is the first LNG export project in the world to reach FID in 2020, with estimated capital expenditures of $2 billion. The project aims to connect natural gas supplies from Texas to international markets and is expected to create over 10,000 jobs while generating economic benefits for Mexico. First LNG production is anticipated in late 2024, with a capacity of 3.25 million tonnes per annum.

Sempra Energy (NYSE: SRE) announced a $20,000 donation to Operation Homefront for Veterans Day, supporting military families affected by COVID-19. This grant contributes to the "11 Days of Impact" campaign, aiming to raise $111,000 to provide financial assistance for critical needs like housing and groceries. Over the past five years, Sempra has donated more than $1.4 million to military causes and employs over 1,000 veterans. The company received recognition as a "Military Friendly" organization, highlighting its commitment to veteran support.

Southern California Gas Co. (SoCalGas) has partnered with United Way of Greater Los Angeles for the first virtual HomeWalk event, scheduled for November 14, 2020. This initiative aims to combat homelessness exacerbated by the COVID-19 pandemic. Participants can engage in a 5K run, walk, or ride in their neighborhoods, sharing their experiences on social media. Over the years, SoCalGas has raised over $2 million for this cause, with a strong participant turnout in previous years. The event highlights the urgent need for support to address rising homelessness in Los Angeles County.

Sempra Energy (NYSE: SRE) is donating $2 million to the Salk Institute for a five-year project focused on plant-based carbon capture and sequestration research. This initiative, part of the Harnessing Plants Initiative, aims to develop drought-tolerant sorghum that sequesters carbon while providing essential resources like food and fuel. The project could potentially mitigate 1.5 to 6 gigatons of CO2 emissions annually if implemented globally. Sempra's investment reflects its commitment to sustainability and advancing the energy transition.

Sempra Energy (SRE) reported Q3 2020 earnings of $351 million ($1.21/share), a significant decrease from $813 million ($2.84/share) in Q3 2019. Adjusted earnings for Q3 2020 were $380 million ($1.31/share) versus $425 million ($1.50/share) year-over-year. For the first nine months, earnings surged to $3.35 billion ($11.43/share), up from $1.61 billion ($5.74/share) in the same period of 2019. The company is focusing on high-growth markets and infrastructure investments, reaffirming full-year 2020 EPS guidance of $12.50 to $13.10.