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 (NYSE: SRE) announced a $250,000 donation to the California Fire Foundation to support wildfire relief efforts. This funding will assist families affected by wildfires and enhance the foundation's Supplying Aid to Victims of Emergency (SAVE) program, distributing cards for essential purchases. The donation highlights Sempra Energy Foundation's commitment to community support, with over $100 million donated over the past five years. Sempra aims to be North America's premier energy infrastructure company, serving over 35 million consumers.
Sempra LNG has appointed Lisa Glatch as its new president and chief operating officer, effective immediately. Previously the chief operating officer, Glatch's promotion comes as the company focuses on expanding its liquefied natural gas (LNG) business globally. Under her leadership, Sempra LNG aims to advance its projects, including the Energía Costa Azul facility in Mexico and progress on Cameron LNG, which has recently commenced commercial operations. Glatch brings over 30 years of experience in project management and energy market operations.
Summary not available.
Southern California Gas Co. (SoCalGas) announced the launch of its Restaurant Recovery Program to support Black-owned restaurants impacted by COVID-19 in Los Angeles County and the Inland Empire. The Vermont Slauson Economic Development Corporation will administer the program, distributing grants between $1,000 and $5,000 for payroll, sanitation, and upgrades. The initiative coincides with Black Restaurant Week, promoting economic relief and community support. SoCalGas has pledged over $2.5 million for COVID-19 recovery efforts and aims to be the cleanest gas utility in North America by replacing 20% of natural gas supply with renewable sources by 2030.
On August 11, 2020, Southern California Gas Co. (SoCalGas) marked National 811 Day, emphasizing the importance of contacting 811 prior to any excavation projects. This service connects excavators with utility companies to prevent accidental damage to underground lines, thereby protecting public safety. SoCalGas reported nearly 3,000 underground infrastructure damages in the past year, emphasizing that contacting 811 reduces the risk of accidents by 99%. The company also launched a 'Dig It to Win It' contest to promote safe digging practices.
Southern California Gas Co. (SoCalGas) is awarding $150,000 in Climate Adaptation & Resiliency Grants to support municipalities in enhancing climate resilience against risks like wildfires and floods. Each of the three selected cities will receive $50,000 to aid in developing plans that address climate vulnerabilities, particularly in disadvantaged communities. Applications are accepted until September 30, 2020. The grants, funded by shareholders, aim to foster collaboration among local governments and utility companies, without impacting gas bills.
Sempra LNG announced that the Cameron LNG export facility in Hackberry, Louisiana, has commenced full commercial operations, enhancing Sempra's LNG business in North America. The facility has shipped nearly 100 cargoes, totaling over 6 million tonnes of LNG. This milestone will enable run-rate earnings under tolling agreements, expected to generate approximately $12 billion in cash flows over a 20-year period. Development of Cameron LNG Phase 2 is underway, with all offtake capacity secured, though project completion remains subject to risks.
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.