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  • Wed, Nov. 30, 4:57 PM
    • Sempra Energy (NYSE:SRE) says it filed applications with the FERC seeking authorization to build and operate the proposed Port Arthur LNG natural gas liquefaction facility in southeast Texas.
    • SRE also filed a separate application to build pipelines to bring natural gas to the site.
    • If successful, SRE would join Cheniere Energy LNG on the east bank of the Sabine-Neches Ship Channel where conversion to an export terminal is under way; Golden Pass, a project spearheaded by ExxonMobil, also is in the process of conversion to export.
    | Wed, Nov. 30, 4:57 PM
  • Wed, Nov. 2, 8:31 AM
    • Sempra Energy (NYSE:SRE): Q3 EPS of $1.02 beats by $0.06.
    • Revenue of $2.54B (+2.4% Y/Y) misses by $140M.
    • Press Release
    | Wed, Nov. 2, 8:31 AM | 1 Comment
  • Tue, Nov. 1, 5:30 PM
  • Wed, Oct. 26, 5:19 PM
    • Sempra Energy (NYSE:SRE) turned lower in afternoon trading following a Reuters report that sales talks with Odebrecht over the potential sale of the Brazilian company's majority stake in a $5B natural gas pipeline project in Peru have collapsed because of "commercial differences."
    • After the talks with SRE, Odebrecht was preparing for a new round of bidding for its 55% interest in the 700-mile Gasoducto Sur Peruano pipeline, according to the report.
    • The breakdown of talks marks the latest setback for Odebrecht as it seeks to sell off assets after becoming ensnared in Brazil's massive corruption scandal.
    | Wed, Oct. 26, 5:19 PM
  • Fri, Oct. 14, 5:58 PM
    • Sempra Energy's (NYSE:SRE) IEnova Mexican unit says it raised $1.43B, pricing 344.9M shares at 80 Mexican pesos/share ($4.22) in a global offering; the parent company participated in the capital increase, agreeing to buy shares for $350.7M.
    • IEnova will use the money to repay bridge financing for its recent $1.14B acquisition of state oil company Pemex's 50% stake in pipeline joint venture Gasoductos de Chihuahua, which is now wholly owned by IEnova, and to help finance the recent purchase of two wind farms in Mexico for $852M, including debt.
    • IEnova also is developing new projects; it owns 40% of a joint venture with TransCanada that won a contract from Mexico’s state electric utility to build a 500-mile, $2.1B offshore pipeline to carry natural gas from south Texas into Mexico.
    | Fri, Oct. 14, 5:58 PM | 1 Comment
  • Wed, Oct. 5, 7:05 PM
    • Utilities shares (NYSEARCA:XLU) fell today for the ninth straight session, marking their longest losing streak since 2002 and deepening the recent slide in income producing investments as investors warily watch central banks and interest rates.
    • The S&P Utilities sector has dropped 7.5% in the nine days, including a 0.3% fall today, trimming its YTD gain to 8.9%; during the period, AES -10%, EXC -8.8%, PPL -8.8%, PCG -8.2%, ED -8%, EIX -7.6%, SO -7.4%, NEE -7.4%, SRE -7.1%, AEP -6.8%, D -6.7%, DUK -6.5%.
    • “Trees don’t grow to the sky,” says Fred Alger's Management's Brad Neuman, “It was almost like the market was waiting for an excuse” to send high-yielding stocks back toward their historical valuations, adding that such stocks could have further to fall.
    • Even after the recent decline in share prices, utilities had a 12-month trailing P/E ratio of 21.4 as of Tuesday, vs. 19.8 for the S&P; at the beginning of the year, utilities had a lower ratio than the broader market.
    | Wed, Oct. 5, 7:05 PM | 70 Comments
  • Wed, Oct. 5, 2:17 PM
    • California state regulators have lowered the required amount of natural gas that must be available for withdrawal from the Aliso Canyon storage facility, which SoCalGas (SRE -0.1%) says could hasten the return to service of the field that was shut after last year's methane leak.
    • With the weather moderating, the California Public Utilities Commission has cut the required minimum withdrawal capability SoCalGas must maintain at Aliso Canyon to 207M cf/day from 420M.
    • "The reduction in required withdrawal capacity means fewer wells must be kept ready for withdrawal, and may assist in more quickly completing the state-mandated comprehensive safety review and safely resume injection operations at the facility," SoCalGas says.
    | Wed, Oct. 5, 2:17 PM | 1 Comment
  • Wed, Sep. 28, 11:19 AM
    • Real Goods Solar (RGSE +5.5%) extends strong gains following this week's favorable solar related decision by the California Public Utilities Commission, which rejected an attempt to make rooftop solar panels more expensive; RGSE shares have more than doubled over the past two trading sessions.
    • At stake was the state's net metering program that requires major utilities to compensate solar-powered homes and businesses for the electricity they send to the grid.
    • Southern California Edison (EIX -0.8%), PG&E (PCG -0.9%) and Sempra Energy's (SRE -0.6%) San Diego Gas & Electric subsidiary had lobbied the PUC to lower the compensation rate and to approve new charges for solar customers.
    | Wed, Sep. 28, 11:19 AM | 3 Comments
  • Mon, Sep. 19, 5:41 PM
    • Sempra Energy's (NYSE:SRE) SoCalGas says more wells passed safety inspections at the Aliso Canyon natural gas storage facility, but the company has more work to do before it can inject gas into the giant field the utility shut last fall due to a massive methane leak.
    • SoCalGas says 23 wells passed all safety tests, 15 awaited test results and 76 were temporarily out of operation, according to its latest report on Sept. 16, but California state law requires that all wells must either pass all tests or be taken out of service before the company can start injecting gas.
    • Both the California Division of Oil, Gas and Geothermal Resources as well as the California Public Utilities Commission must determine that the field is safe to operate.
    | Mon, Sep. 19, 5:41 PM
  • Mon, Sep. 19, 6:35 AM
    • Sempra Energy (NYSE:SRE) declares $0.755/share quarterly dividend, in line with previous.
    • Forward yield 2.89%
    • Payable Oct. 15; for shareholders of record Sept. 29; ex-div Sept. 27.
    | Mon, Sep. 19, 6:35 AM
  • Tue, Sep. 13, 6:23 PM
    • Sempra Energy's (NYSE:SRE) SoCalGas pleaded no contest to a criminal charge today as part of a $4M settlement with prosecutors over the handling of last year's massive leak of methane gas that drove thousands of families from their Los Angeles-area homes.
    • The agreement includes several safety measures that go beyond what is already required by state and local laws, including a $1.2M-$1.5M leak monitoring system at the Aliso Canyon natural gas storage facility.
    • Reuters reports that SoCalGas is not likely to return Aliso Canyon to partial service until at least early autumn.
    • Separately, SRE says President Mark Snell will resign effective March 1, 2017, after 16 years with the company, and current San Diego Gas & Electric Chairman, President and CEO Jeff Martin will become SRE's Executive VP and CFO.
    | Tue, Sep. 13, 6:23 PM
  • Tue, Sep. 6, 2:58 PM
    • Sempra Energy's (SRE +1.4%) IEnova Mexican unit said yesterday it agreed to buy two wind farms in northeastern Mexico from a group led by units of Blackstone (BX -0.6%) for $375M.
    • IEnova also will assume $477M in debt related to project financing, valuing the transaction at $852M.
    • The Ventika I and Ventika II wind farms, which are adjacent to each other in the state of Nuevo León, include 84 wind generators with a combined electricity generation capacity of 252 MW.
    • IEnova says the acquisition is part of its plan for short-term and medium-term growth, and will increase its operations in renewable energy.
    • Mexican cement maker Cemex (CX +0.4%) will continue to manage the farm, which was completed in December and started operating in April.
    | Tue, Sep. 6, 2:58 PM | 3 Comments
  • Thu, Aug. 4, 8:34 AM
    • Sempra Energy (NYSE:SRE): Q2 EPS of $0.79 misses by $0.18.
    • Revenue of $2.2B (-7.2% Y/Y) misses by $420M.
    • Press Release
    | Thu, Aug. 4, 8:34 AM
  • Wed, Aug. 3, 5:30 PM
  • Wed, Jul. 20, 8:45 AM
    • Sempra Energy (NYSE:SRE) says it is cutting its share buyback target by $500M, after saying earlier that it could repurchase as much as $2B of its own shares.
    • SRE instead plans to use the cash to help build a $2.1B natural gas pipeline in Mexico with joint venture partner TransCanada, part of SRE's plans to spend more than $3B in Latin America through 2020, accounting for nearly 20% of its capital program; SRE also says its Mexican subsidiary Ienova may sell stock to finance expansions in Mexico.
    • SRE has contracts for $19.5B of capital projects over the next five years, and “that’s only what we’re committed to,” CFO Joe Householder says. “We’re going to spend more than that."
    | Wed, Jul. 20, 8:45 AM
  • Mon, Jul. 18, 9:51 AM
    • Sempra Energy (SRE +0.1%) says the Cameron liquefied natural gas project in Louisiana has won approval from the U.S. Department of Energy to increase its export capacity to non-free trade agreement countries.
    • The authorization to export an additional 1.41B cf/day of natural gas will bring Cameron LNG's export capacity to 3.53B cf/day, or 24.92M tons/year.
    • SRE says construction on the first phase of the $10B Cameron LNG project is underway; the facility is expected to commence operations during 2018, with the first full year of operations in 2019.
    • The Cameron LNG venture is owned by SRE, Engie, Mitsui and a Japanese joint venture, and comprises the Cameron LNG liquefied natural gas receipt terminal in Hackberry, La., and the construction and operation of the liquefaction export facilities.
    | Mon, Jul. 18, 9:51 AM | 1 Comment