Welcome to our dedicated page for Sempra news (Ticker: SRE), a resource for investors and traders seeking the latest updates and insights on Sempra stock.
Sempra (NYSE: SRE), headquartered in San Diego, is a prominent Fortune 500 energy services holding company. It boasts a substantial revenue of over $11 billion in 2014 and a workforce of 17,000 employees serving more than 32 million consumers globally. Sempra operates through its diverse subsidiaries, including San Diego Gas & Electric Co. and Southern California Gas Co., providing natural gas and electricity to over 20 million people in California. It also holds a significant 80% stake in Oncor, servicing 10 million customers in Texas.
Sempra's infrastructure initiatives extend across North America, where it owns and operates liquefied natural gas (LNG) facilities and energy assets in Mexico. Recent financial performance highlights include 2023 GAAP earnings of $3.03 billion, a significant increase from $2.09 billion in 2022. This growth is attributed to robust business strategies and a five-year capital plan of approximately $48 billion, focusing heavily on California and Texas markets.
Three growth platforms stand out: Sempra California, focusing on energy reliability and sustainability with major projects like 200 megawatts of utility-owned battery storage; Sempra Texas, witnessing substantial investment in infrastructure to support economic growth; and Sempra Infrastructure, emphasizing LNG production with projects like Cameron LNG Phase 1 and Energía Costa Azul LNG Phase 1. Additionally, Sempra is exploring hydrogen and carbon capture technologies to meet global energy demands.
Notable achievements include recognition for sustainability and innovation, evidenced by awards like Fast Company's
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.
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.
Sempra (NYSE: SRE) (BMV: SRE) has announced its plans to release second-quarter 2024 earnings on Tuesday, August 6, by 8 a.m. ET. The company will host a conference call at 12 p.m. ET on the same day, featuring Jeffrey W. Martin, chairman and CEO, Karen Sedgwick, executive vice president and CFO, and other senior leaders.
Investors, media, analysts, and the public can access a live webcast of the conference call by registering on Sempra's Investors section of the website. An accompanying slide presentation detailing the earnings results will be available on the Investors site by 8 a.m. ET. For those unable to attend the live webcast, a replay will be available shortly after its conclusion.
FAQ
What is the current stock price of Sempra (SRE)?
What is the market cap of Sempra (SRE)?
What is Sempra?
What services does Sempra provide?
How many employees does Sempra have?
What are Sempra's growth platforms?
Where does Sempra operate LNG facilities?
What was Sempra's financial performance in 2023?
What is Sempra's five-year capital plan?
What sustainability initiatives is Sempra involved in?
What are some of Sempra's recent achievements?
How does Sempra support economic growth in Texas?
