Sempra Energy Stock Price, News & Analysis

SoCalGas (SRE) announced a $1.5 million LCFS Fuel Card Incentive Program to accelerate adoption of low- and zero-emissions heavy-duty trucks. From Sept. 9, 2024 through Dec. 8, 2024 SoCalGas will make funds available for up to 50 fuel cards, each worth $30,000, for companies that purchase a qualifying Class 8 heavy-duty natural gas truck on or after the launch date.

Cards are redeemable at SoCalGas' 16 public access stations that dispense 100% renewable natural gas; prioritization will be given to fleets with fewer than 10 vehicles. SoCalGas said it has converted 38% of its over‑the‑road fleet to alternative fuel vehicles and aims for 50% by 2025 and a 100% zero‑emissions fleet target under its ASPIRE 2045 strategy.

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.

Southern California Gas Company (SoCalGas) has announced its regular quarterly dividends for preferred series stock. The board of directors declared dividends of $0.375 per share for both Preferred Stock and Preferred Stock, Series A. These dividends will be paid on October 15, 2024, to shareholders of record as of September 10, 2024. This announcement demonstrates SoCalGas's commitment to providing consistent returns to its preferred stockholders, maintaining its dividend policy despite potential economic uncertainties.

Oncor Electric Delivery Company reported net income of $251 million for Q2 2024, up from $200 million in Q2 2023. The $51 million increase was driven by higher revenues due to updated interim rates, increased transmission billing units, higher customer consumption, and new base rates implemented in May 2023. For the first half of 2024, net income was $476 million, up from $303 million in H1 2023.

Operational highlights include adding 20,000 new premises in Q2 2024 and receiving 98 new transmission point of interconnection requests, a 7% increase year-over-year. Oncor also reached a settlement in principle for its system resiliency plan, which proposes $2.9 billion in capital investment and $520 million in O&M expenses over three years.

As of August 5, 2024, Oncor's available liquidity totaled $2.2 billion.

Sempra (NYSE: SRE) reported second-quarter 2024 GAAP earnings of $713 million, or $1.12 per diluted share, compared to $603 million, or $0.95 per diluted share in Q2 2023. Adjusted earnings were $567 million, or $0.89 per diluted share, compared to $594 million, or $0.94 per diluted share in Q2 2023. For the first six months of 2024, GAAP earnings were $1.514 billion, or $2.38 per diluted share, while adjusted earnings were $1.421 billion, or $2.24 per diluted share. Sempra's subsidiary Oncor reached a settlement in principle on a ~$3B System Resiliency Plan. The company updated its full-year 2024 GAAP EPS guidance to $4.74-$5.04 and affirmed its adjusted EPS guidance of $4.60-$4.90. Sempra also affirmed its 2025 EPS guidance of $4.90-$5.25 and long-term EPS growth rate of 6-8%.

The Latino Restaurant Association (LRA) has announced a new grant program sponsored by SoCalGas, offering $2,500 grants to 35 local restaurant owners in South Fresno, Kings, and Tulare Counties. The initiative aims to support restaurants owned by individuals of Latino heritage or those who have significantly contributed to the Latino community. To qualify, restaurants must meet specific criteria, including owning up to three locations, generating less than $1 million in annual revenue per location, and being in business for over three years.

Grant applications open on July 30, 2024, and close on August 23, 2024. Recipients will be notified by September 2, 2024, with official announcements made on September 9, 2024. The program demonstrates SoCalGas's commitment to supporting diverse, local restaurants and their contributions to the community.

SoCalGas has awarded $314,000 in scholarships to 29 students in Central and Southern California through its Scholarship Program. The program offers $5,000 renewable scholarships for four-year university students, totaling $20,000 over four years, and $1,000 scholarships for community college and trade school students. Additionally, 28 previous recipients will have their scholarships renewed.

Since 2001, SoCalGas has awarded over $3.9 million to 2,355 students. The program evaluates candidates based on academic achievements, community involvement, financial need, and their understanding of sustainable energy in California. It aims to support students in STEM fields, finance, accounting, business administration, and various trades.

This initiative aligns with SoCalGas' ASPIRE 2045 Sustainability Strategy, which includes a $50 million investment over five years to advance diversity and work towards a carbon-neutral future.

Oncor Electric Delivery Company plans to release its second quarter 2024 results on August 6, 2024, before Sempra's (NYSE: SRE) Q2 2024 results conference call. Oncor's earnings release will be available on oncor.com. Sempra executives will host a conference call at 12 p.m. ET on August 6 to discuss Oncor's Q2 2024 operational and financial results.

Investors and the public can access a live webcast of the call by registering on Sempra's website. A slide presentation will be posted before the call, and a replay will be available afterwards. Oncor's Q2 2024 Form 10-Q will be filed with the SEC after Sempra's call and will be accessible on oncor.com.