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's Mexican subsidiary, IEnova, is set to release its third-quarter 2020 earnings on October 21 at 6 p.m. ET. This will be followed by a conference call on October 22 at 11 a.m. ET. Investors can access the briefing materials on IEnova's website. As of year-end 2019, IEnova employed 1,300 individuals and held approximately $9.6 billion in total assets, standing as one of Mexico's largest private energy firms, while Sempra Energy's total assets exceeded $60 billion.
Southern California Gas Co. (SoCalGas) has announced a 50% increase in rebates on energy-efficient appliances until December 31, 2020. This initiative aims to help customers reduce their energy bills as they face financial difficulty during the pandemic. Rebate amounts can reach up to $600 for select water heaters and $500 for fireplaces. Notably, over 1.1 million metric tons of greenhouse gas emissions were avoided due to past energy efficiency programs, saving customers $229 million on bills. SoCalGas continues to support environmental goals while assisting customers with financial relief.
Sempra Energy (NYSE: SRE) will participate in a virtual closing bell ceremony at the New York Stock Exchange on Sept. 3, 2020. Chairman and CEO Jeffrey W. Martin and seven employees will be recognized as part of the NYSE's Gratitude Campaign, honoring essential workers during the COVID-19 pandemic. The event emphasizes Sempra's commitment to safety and essential energy services for over 35 million consumers, including hospitals and first responders. The ceremony begins at 3:59 p.m. Eastern Time and can be viewed live on the NYSE website.
Sempra Energy (NYSE: SRE) appointed Manuela "Nelly" Molina as vice president of investor relations. Molina, previously CFO of IEnova, has a proven track record in corporate finance, managing $10.1 billion in financing initiatives since 2013. Recognized as a leading CFO in Latin America, she is set to enhance Sempra's communication with investors. Faisel Khan will transition to chief financial officer for Sempra LNG on October 3, 2020, allowing Molina to take over the investor relations team. Sempra aims to be a premier energy infrastructure company in North America.
SoCalGas has launched a virtual enrollment option for its Energy Savings Assistance Program, enabling customers to receive an average of $705 in energy-efficient home upgrades at no cost. This initiative, aimed at improving safety and comfort, aligns with social distancing measures during the COVID-19 pandemic. The program has assisted over one million customers to date. Eligible participants must be enrolled in a qualifying public assistance program or meet income qualifications. SoCalGas reports significant energy savings, reducing natural gas use by 208 million therms from 2015 to 2019.
Sempra Energy (NYSE: SRE) has declared a $1.045 quarterly dividend on its common stock, payable on Oct. 15, 2020, to shareholders of record by Sept. 25, 2020. Additionally, quarterly dividends on various series of preferred stock have been announced: $1.50 on Series A, $1.6875 on Series B, and $15.7083 on Series C, all payable on Oct. 15, 2020. Sempra Energy aims to be North America's leading energy infrastructure company, operating in key markets with over $60 billion in assets and supporting over 35 million customers.
The Los Angeles Area Chamber of Commerce and Southern California Gas Co. (SoCalGas) are hosting a Virtual Job Fair on September 3, from 10:00 a.m. to Noon. This event aims to assist job seekers in the Los Angeles area, where the unemployment rate exceeds 19%. Participants will have access to job openings from various companies, including FedEx and UPS, and can attend training sessions on job application and interview strategies. SoCalGas is the event's presenting sponsor, contributing over $2.74 million to workforce recovery efforts during the pandemic.
Sempra Energy (SRE) announced a $500,000 pledge to support recovery efforts in Southwest Louisiana and Southeast Texas following Hurricane Laura. The company aims to raise an additional $1 million through industry partnerships. The funding will address critical needs in the affected areas. Sempra's subsidiary, Sempra LNG, holds a significant stake in the Cameron LNG export facility and has invested over $2.5 million in Texas nonprofit organizations over the past three years. Sempra Energy operates a pivotal role in the Gulf Coast community.
SoCalGas announced that the U.S. Department of Energy has awarded over $7.1 million for three projects to enhance clean automotive transportation technologies. SoCalGas will contribute an additional $730,000 to the initiatives led by Cummins, GTI, and West Virginia University. The projects aim to develop zero-emissions fuel cells for trucks and buses, a natural gas hybrid locomotive, and cost assessments for alternative fuel vehicles. SoCalGas aims to be the cleanest gas utility in North America, addressing California's high transportation-related GHG emissions.
On Aug. 25, 2020, Southern California Gas Co. (Sempra Energy, SRE) announced it will award $232,000 in scholarships to 60 students across Southern and Central California. The scholarships, aimed at fostering a well-educated workforce, will be distributed based on academic performance, community involvement, and an essay on California’s clean energy future. Notably, 86% of the recipients are minority students. Since 2001, SoCalGas has invested over $2.7 million in scholarships for more than 2,500 students, further supporting educational initiatives in the region.