Sempra - SRE STOCK NEWS

SoCalGas, GKN Hydrogen, and NREL have launched a demonstration project to test an innovative solid-state hydrogen storage solution at NREL's Flatirons Campus in Arvada, Colorado. The system can store up to 500 kilograms of hydrogen in metal hydrides at low pressure, using renewable energy to convert water into hydrogen through an electrolyzer. The project, funded with $1.7 million from the DOE and $400,000 from SoCalGas, will run until December 2026. The technology aims to support clean energy systems and accelerate decarbonization by enabling resilient, on-site renewable power generation and storage.

Sempra (NYSE: SRE) has been named one of the World's Best Companies for 2024 by TIME Magazine and Statista Inc. The recognition is based on employee satisfaction, revenue growth, and sustainability transparency. This achievement adds to Sempra's growing list of distinctions, including appearances on The Wall Street Journal's Best-Managed Companies list, Fortune's World's Most Admired Companies, and Newsweek's Most Responsible Companies.

The company is also included in the Dow Jones Sustainability Index North America and FTSE4Good Index Series, highlighting its commitment to sustainable business practices and corporate excellence.

SoCalGas announced its board of directors has declared regular quarterly dividends for its preferred stock series. Shareholders will receive $0.375 per share for both Preferred Stock and Preferred Stock, Series A. The dividends will be paid on January 15, 2025, to shareholders of record as of December 10, 2024.

SoCalGas has announced energy-saving tips and programs to help customers manage their energy consumption during cooler months. The company is offering 50% increased rebates through November 30, 2024, for purchasing qualifying energy-efficient appliances. Key recommendations include managing heating systems, optimizing appliance usage, installing energy-saving fixtures, and sealing air leaks. The company highlights that upgrading to energy-efficient appliances can result in up to 20% savings. SoCalGas also provides various assistance programs including the Energy Savings Assistance Program for no-cost home improvements and CARE, offering a 20% discount on natural gas bills for qualifying low-income households.

Sempra (NYSE: SRE) has announced a quarterly dividend declaration of $0.62 per share on its common stock. The dividend will be paid on January 15, 2025, to shareholders who are recorded as stockholders at the close of business on December 5, 2024.

Oncor reported Q3 2024 net income of $324 million, down from $380 million in Q3 2023, primarily due to higher interest and depreciation expenses. However, nine-month net income increased to $800 million from $683 million year-over-year. The company filed a $2.9 billion system resiliency plan and expects significant involvement in the $13 billion Permian Basin Reliability Plan. Operationally, Oncor connected 19,000 new premises and had 884 active transmission point of interconnection requests. The company expects to announce a new five-year capital plan for 2025-2029 with a 40-50% increase over its previous $24.2 billion plan.

Sempra (NYSE: SRE) reported third-quarter 2024 GAAP earnings of $638 million ($1.00 per diluted share), down from $721 million ($1.14 per share) in Q3 2023. Adjusted earnings were $566 million ($0.89 per share), compared to $685 million ($1.08 per share) last year. For the first nine months of 2024, GAAP earnings were $2.152 billion ($3.38 per share), versus $2.293 billion ($3.63 per share) in 2023. The company updated its full-year 2024 GAAP EPS guidance to $4.86-$5.16 while affirming adjusted EPS guidance of $4.60-$4.90.

Sempra (NYSE: SRE) has achieved a perfect score of 100% on the CPA-Zicklin Index of Corporate Political Disclosure and Accountability for the ninth consecutive year, earning recognition as a Trendsetter and 'Model Code' company. The company received a raw score of 70 out of 70, significantly outperforming the S&P 500 average of 59.9%. Sempra is one of only seven S&P 500 companies to achieve a perfect score and among the first to be designated as Model Code Companies, demonstrating exceptional standards in political spending disclosure and accountability.

SDG&E has launched an updated Wildfire and Climate Resilience Center, featuring advanced technology for wildfire mitigation and grid safety. The center integrates AI and predictive modeling with emergency response capabilities, conducting over 10 million virtual wildfire simulations daily and utilizing 3.8 million drone images for AI-based inspection models. The facility includes sophisticated weather forecasting networks and serves as SDG&E's Emergency Operations Center during extreme weather events. The center also features a Resilience Zone with climate science labs and interactive exhibits for education and research partnerships with leading academic institutions.