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.
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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.
Southern California Gas Co. (SoCalGas) has commenced the dispensing of California-produced renewable natural gas (RNG) at its fueling stations. The utility has partnered with Calgren Dairy Fuels to source RNG derived from dairy manure, contributing to greenhouse gas reduction. This marks a significant shift as SoCalGas previously used RNG solely from out-of-state sources. By the end of 2023, over 160 RNG production facilities are expected to be operational in California, aiming to replace around 119 million gallons of diesel annually and cut greenhouse emissions by more than 3.4 million tons.
Southern California Gas Co. (SoCalGas) has partnered with The Laundry Truck LA (TLTLA) to launch a new mobile laundry trailer for unhoused individuals in Greater Los Angeles. The trailer, featuring five washers and dryers, aims to provide over 10,000 laundry loads by the end of 2020. SoCalGas has previously contributed $25,000 and a CNG truck from Landi Renzo USA to support TLTLA's efforts. Access to laundry services is essential in improving the hygiene and self-esteem of those experiencing homelessness, especially during the COVID-19 pandemic.