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
On December 9, SoCalGas will support Sowing Seeds for Life's 14th Annual Holiday Pantry event, providing essential supplies to over 2,000 families in need. The company donated a $10,000 grant for holiday necessities. This initiative is part of SoCalGas's broader commitment, having contributed over $3.2 million to COVID-19 recovery efforts, assisting over 200 nonprofit organizations. The event will take place at Pomona Fairplex, where selected families will receive food, toys, and gift cards, highlighting SoCalGas's ongoing community support amidst pandemic challenges.
SoCalGas has been named 2020 Corporation of the Year by the Southern California Minority Supplier Development Council (SCMSDC) for its outstanding supplier diversity initiatives. The award recognizes companies for their commitment to driving economic growth and job creation through diverse supplier partnerships. SoCalGas spent a record $726 million with over 550 diverse enterprises in 2019, exceeding CPUC goals. Additionally, Vaughn Millard Williams III received the Corporate Advocate Award for promoting minority business development.
Sempra Energy (SRE) has announced integrated transactions aimed at simplifying its energy infrastructure investments under a unified platform to enhance growth. The company intends to launch a stock-for-stock exchange offer for IEnova shares at an exchange ratio of 0.0313 shares of Sempra for each IEnova share, representing significant premiums over recent trading prices. Additionally, Sempra plans to establish Sempra Infrastructure Partners to develop LNG, natural gas, and renewable energy projects. A non-controlling interest in this new entity will be sold to fund growth, with targeted completion by Q1 2021.
On December 1, 2020, Southern California Gas Co. (SoCalGas) announced a $100,000 donation to aid local food distribution and holiday toy drives in Los Angeles County, marking its commitment to address food insecurity amidst the ongoing COVID-19 pandemic. This contribution is part of a larger initiative where SoCalGas has donated over $3.2 million to more than 200 nonprofits since March 2020. The funds will be distributed among Alma Family Services, MEND, and Mid Valley Family YMCA, significantly supporting communities that have been severely impacted by the pandemic.
Southern California Gas Co. (SoCalGas) announced a partnership with Southeast Community Development Corporation (SCDC) on November 30, 2020, to address the digital divide in South Los Angeles. SoCalGas is donating resources like Chromebooks and internet hotspots to assist 100 students with remote learning. Alongside educational support, the initiative will help eight California State University Dominguez Hills students achieve their teaching credentials through tutoring sessions. This aligns with SoCalGas's ongoing commitment to community support, having donated over $2.74 million for COVID-19 recovery since March.
Southern California Gas Co. (SoCalGas) and San Diego Gas and Electric (SDG&E), subsidiaries of Sempra Energy, unveiled a Hydrogen Blending Demonstration Program aimed at decarbonizing California's natural gas grid. This innovative initiative will blend hydrogen with natural gas, utilizing surplus renewable energy to produce green hydrogen. The program, subject to California Public Utilities Commission approval, represents a significant step toward a statewide hydrogen injection standard, targeting a blend level starting at 1% and potentially reaching 20% in future projects.
Southern California Gas Co. (SoCalGas) and the Yorba Linda Water District (YLWD) announced the installation of a natural gas-powered electricity generator at the Elk Mountain Booster Pump Station. This generator ensures backup power during emergencies, such as wildfires and Public Safety Power Shutoffs, producing 500 kWh to support water pumping operations for over 68,000 residents. YLWD's commitment to reliable water service is reinforced through this project, which leverages SoCalGas's new Core Electric Generating Rate for cost efficiency.
The board of directors of Southern California Gas Co. (SoCalGas) has declared a regular quarterly dividend of $0.375 per share for its preferred stock, including Series A. The dividends are set to be payable on January 15, 2021, to shareholders recorded by December 10, 2020. SoCalGas, a subsidiary of Sempra Energy (SRE), is the largest gas distribution utility in the U.S., serving 21.8 million customers across 24,000 square miles of California. The company aims to replace 20% of its natural gas supply with renewable natural gas by 2030.
Sempra Energy (SRE) announced a quarterly dividend of $1.045 per share on its common stock, payable on January 15, 2021, for shareholders of record by December 18, 2020. Additionally, a dividend of $1.50 per share will be issued for its 6% Mandatory Convertible Preferred Stock, Series A, and $1.6875 for its 6.75% Mandatory Convertible Preferred Stock, Series B, also payable on January 15, 2021. With over $60 billion in total assets, Sempra continues to lead in the North American energy infrastructure market.
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