Sempra Energy Stock Price, News & Analysis

Sempra Infrastructure CEO Justin Bird was named Energy Leader of the Year at the Gulf Energy Information Excellence Awards in Houston. Bird expressed gratitude for the recognition, attributing it to his team's dedication to building North America's leading energy infrastructure company. The event saw nearly 500 nominations, with over 180 finalists.

Additionally, Sempra Infrastructure received the DE&I in Energy Award for its Growing Responsibilities and Opportunities for Women (GROW) initiative. Launched in 2020, GROW has over 365 members and focuses on building women's leadership capacity. Tania Ortiz-Mena, president of Sempra Infrastructure and GROW's executive sponsor, emphasized the importance of providing development opportunities to all employees.

The Gulf Energy Information Excellence Awards recognized innovation and technological advancements across 29 categories in the oil, gas, and energy industries.

The Latino Restaurant Association (LRA) has awarded 23 grants of $3,500 each to independently owned restaurants in the Central Valley, funded by a $100,000 grant from SoCalGas. This initiative, celebrating Hispanic Heritage Month, supports restaurants in South Fresno, Kings, and Tulare counties. Since 2020, SoCalGas has contributed over $350,000 to the LRA's efforts in promoting Latino restaurateurs and small business owners.

The grants aim to help restaurants invest in equipment, dining gear, technology upgrades, employee benefits, or other essential needs. To qualify, restaurants had to meet specific criteria, including owning up to three locations, generating less than $1 million in annual revenue per location, and being in business for more than three years. This initiative is part of SoCalGas' ASPIRE 2045 Sustainability Strategy, which plans to invest $50 million over five years into the communities it serves.

SoCalGas CEO Scott Drury received the Shift Diverse Business Solutions (Shift DBS) Transformative Leader Award at their annual Investor-owned Utility Supplier Summit. The award recognizes Drury's exceptional leadership in sustainability, safety, and supplier diversity. In 2023, SoCalGas exceeded the CPUC's diverse spending goal for the 31st consecutive year, purchasing 44% of all goods and services from diverse businesses.

Under Drury's leadership, SoCalGas' ASPIRE 2045 sustainability strategy aims to achieve 45% spending with diverse business enterprises by 2025 and net zero greenhouse gas emissions in operations and energy delivery by 2045. The company's Supplier Diversity Program was recognized by the DOE's Office of Energy Justice and Equity, leading to SoCalGas hosting the Minority Business Enterprise (MBE) Connect Summit in April 2024.

SoCalGas has donated $75,000 to Brotherhood Crusade for the development of the Danny J. Bakewell, Sr. Community Garden in South Los Angeles. The garden, set to open in Spring 2025, aims to serve 200 families in its first year, addressing food insecurity and providing access to fresh produce. It will expand Brotherhood Crusade's Teaching Gardens program, offering education on urban agriculture, nutrition, and environmental stewardship.

The garden honors Danny J. Bakewell, Sr., who led Brotherhood Crusade for 35 years and is a prominent community leader. The project aligns with SoCalGas' ASPIRE 2045 sustainability goals, which include a $50 million investment to drive positive change in diverse and underserved communities over five years. This initiative addresses the issue of food deserts in Los Angeles, where 1.4 million Angelenos lack access to sufficient and healthy food.

CIM Group has secured a significant lease agreement with Southern California Gas Company (SoCalGas) for approximately 198,553 square feet at City National 2CAL in Downtown Los Angeles. This marks the largest new office lease in downtown LA for 2024. SoCalGas, the largest gas distribution utility in the US, will relocate its headquarters to the 52-story office building at 350 S. Grand Ave.

The lease follows CIM Group's recent 119,217 square-foot lease to Shepard Mullin in December 2023. CIM Group has implemented various improvements to the property since acquiring it in 2014, including modernizing entrances and renovating The Yard, a 1.5-acre central court. The building has also received several sustainability certifications, including LEED Platinum recertification in 2023.

SoCalGas announced that Boyle Heights Solis S.T.E.M. Magnet High School's all-girls team, Las STEMateras, will compete in the Hydrogen Grand Prix World Finals in Anaheim, California. The team, sponsored by SoCalGas, built a hydrogen fuel cell remote-control race car for a six-hour race against teams from 14 countries. This competition provides students with hands-on experience in clean energy projects.

The event highlights the importance of providing opportunities for women in renewable energy, as they currently make up only 32% of the workforce. SoCalGas' support aligns with their ASPIRE 2045 Sustainability Strategy, which includes a $50 million investment over five years to advance diversity and work towards a carbon-neutral future.

SoCalGas has launched a new Low Carbon Fuel Standard (LCFS) Fuel Card Incentive Program to support the transition to low- and zero-emissions vehicles in the heavy-duty transportation sector. The company is making $1.5 million available for 50 fuel cards worth $30,000 each. Companies purchasing qualifying Class 8 Heavy-Duty natural gas trucks between Sept. 9 and Dec. 8, 2024, can apply for these cards, with priority given to fleets with fewer than 10 vehicles.

This initiative aligns with California's carbon neutrality goals and aims to reduce greenhouse gas emissions and improve air quality. SoCalGas, which has already converted 38% of its over-the-road fleet to alternative fuel vehicles, plans to operate a 100% zero-emissions fleet by 2035. The fuel cards can be used at SoCalGas' 16 public access stations, which dispense 100% renewable natural gas (RNG).

Sempra (NYSE: SRE) (BMV: SRE) has announced dividend payments for its common and preferred stockholders. The board of directors declared a quarterly dividend of $0.62 per share on common stock, payable on October 15, 2024, to shareholders of record as of September 26, 2024. Additionally, a semi-annual dividend of $24.375 per share was declared on the company's 4.875% Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, Series C, also payable on October 15, 2024, to Series C preferred stockholders of record as of October 1, 2024.

Sempra (NYSE: SRE) (BMV: SRE) has been recognized for its sustainable business practices by being included in the FTSE4Good Index Series for the ninth consecutive year. The company's strong performance in areas such as corporate governance, labor standards, and community engagement contributed to this recognition.

Sempra's sustainability strategy focuses on investing in safe and resilient operations, engaging people and communities, and innovating for the future. The company aims to be North America's premier energy infrastructure company, making disciplined investments in growing economic markets and connecting consumers with modernized energy networks.

This achievement adds to Sempra's growing list of distinctions, including recognitions from Forbes, CNBC, Fortune, and The Wall Street Journal. The FTSE4Good Index Series, created by FTSE Russell, measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices.