Sempra Energy Stock Price, News & Analysis

Sempra Energy (SRE) reported a significant increase in second-quarter 2020 earnings, posting $2.239 billion or $7.61 per diluted share, compared to $354 million or $1.26 per share in Q2 2019. Adjusted earnings also rose to $485 million ($1.65/share) from $309 million ($1.10/share) year-over-year. The company completed the sale of its South American businesses, generating approximately $8.3 billion in total proceeds. Sempra is set to invest a record $32 billion in capital from 2020-2024, focusing on safety and reliability improvements in its utility businesses.

On August 4, 2020, the board of directors of Southern California Gas Co. (SoCalGas) announced the declaration of regular quarterly dividends for its preferred series stock. Shareholders will receive a dividend of $0.375 per share for both the preferred stock and Series A preferred stock. The dividends are payable on October 15, 2020, to shareholders of record by September 10, 2020. SoCalGas, a subsidiary of Sempra Energy, serves 21.8 million customers across 24,000 square miles in California, focusing on renewable energy initiatives.

On August 4, 2020, Southern California Gas Co. (SoCalGas) announced a partnership with Goodwill Southern California to promote energy efficiency programs for qualifying customers. The Energy Savings Assistance (ESA) program and the California Alternate Rates for Energy (CARE) bill discount program aim to help customers save on their bills, potentially exceeding $800 annually. With over 1.5 million current CARE participants, the initiative extends critical support amid the economic impact of COVID-19. SoCalGas will distribute information through participating Goodwill stores and provide services to enhance home energy efficiency.

Oncor Electric Delivery Company plans to release its Q2 2020 results on August 5, just before Sempra Energy's second quarter conference call. Investors can access Oncor's earnings release on oncor.com. The conference call will occur at 12 p.m. ET on the same date and will cover Oncor's operational and financial performance. A slide presentation will be available beforehand, and a replay will follow shortly after. Oncor's Q2 2020 report will be filed with the SEC after the call and can also be found on its website.

Sempra Energy (NYSE: SRE) has announced it will report its second-quarter 2020 earnings at 7 a.m. ET on August 5. A conference call for investors, media, and the public will follow at 12 p.m. ET on the same day. The earnings presentation will be accessible on Sempra's website by 7 a.m. ET. This report is significant as Sempra continues to strengthen its position as a leader in energy infrastructure, serving over 35 million consumers across North America.

Southern California Gas Co. (Sempra Energy - SRE) has donated $25,000 to LA Conservation Corps for its Food Waste Prevention program, collecting up to 9,000 pounds of food daily from local businesses. This initiative addresses food insecurity heightened by COVID-19, distributing food to over 33,000 individuals monthly through MEND. Since its inception in 2018, the program has diverted nearly 1 million pounds of food from landfills and rescued 787,500 pounds of edible food. SoCalGas's commitment includes previous donations exceeding $7.6 million to community causes, highlighting its social responsibility efforts.

Southern California Gas Co. (SoCalGas), a leading natural gas utility, has been recognized with the ENERGY STAR Certified Homes Market Leader award for 2019 by the U.S. Environmental Protection Agency for its dedication to energy-efficient construction. Over the past five years, SoCalGas has allocated more than $8 million in incentives for residential builders of eco-friendly homes. In 2019 alone, its energy efficiency programs saved customers $65.4 million on gas bills, equivalent to removing nearly 293,000 metric tons of greenhouse gas emissions.

Southern California Gas Co. (SoCalGas) announced the launch of the 'Fueling Our Communities' program, aiming to provide 140,000 meals to 40,000 individuals impacted by the COVID-19 pandemic. Funded by a $500,000 donation, the initiative will support underserved communities in multiple counties and stimulate local businesses. The program will benefit various groups, including seniors and families, across 44 cities this summer. SoCalGas has previously donated over $2.5 million for pandemic relief efforts and joins with local charities to implement the initiative.

Sempra Energy (SRE) has completed its exit from South America, divesting its Chilean businesses for approximately $2.23 billion and a total of $5.82 billion from sales in Chile and Peru. This move aligns with their strategy to focus on North America's energy infrastructure markets. The company plans to invest $32 billion in capital from 2020 to 2024, emphasizing transmission and distribution in regions like California and Texas. Sempra has raised its full-year 2020 GAAP EPS guidance to a range of $12.38 to $13.32 amid improved earnings visibility.