Ceremony Highlights One of America's Leading Utility Growth Businesses
, /PRNewswire/ -- Sempra (NYSE: SRE) celebrated its next chapter of growth as Chairman and Chief Executive Officer Jeffrey W. Martin and members of the board of directors rang the opening bell at the New York Stock Exchange (NYSE). The ceremony reflected Sempra's continued momentum as it advances its mission to build America's leading utility growth business.
Press and Social Media Credit Use: @NYSE "We are pleased to celebrate our longstanding relationship with the NYSE as we renew our commitment to help lead our industry in meeting rising energy demand across some of America's largest and fastest-growing markets," said Jeffrey W. Martin, chairman and CEO of Sempra. "This is an exciting time for our company. By simplifying our business model and strengthening our financial position, we are better positioned to invest in critical energy infrastructure that serves nearly 40 million consumers. By continuing to enhance safety, reliability and resilience, we are working hard every day to create meaningful long-term value for our stakeholders."
To help meet growing energy demand, Sempra has refined its corporate strategy to strengthen its position in major economic markets and shift capital to meet the growing needs of its U.S. utilities.
"Across the next decade, we expect economic growth will be fueled by domestic manufacturing, investments in critical infrastructure and advances in AI technologies that reshape how America competes on the global stage. At Sempra, we understand that modernizing and expanding the energy grid is central to that effort," said Martin.
Sempra's utility growth strategy is supported by a record $65 billion capital plan,1 with approximately 95% of planned investments directed toward regulated utilities, alongside a capital recycling program designed to efficiently fund growth and strengthen the company's financial position. These actions reflect Sempra's disciplined execution of its 2026 value creation initiatives and support its objective of generating approximately 95% of earnings from regulated U.S. utilities in 2027, as well as having more than 60% of its rate base located in Texas through the end of the decade.2 The strategy is designed to support continued investment in modernizing and expanding energy infrastructure while helping power America's growing economy.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra.
We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054 and the wildfire fund continuation account established by California Senate Bill 254, rates from customers or a combination thereof; decisions, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, California Public Utilities Commission (CPUC), U.S. Department of Energy, Electric Reliability Council of Texas, Inc., U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, such as the planned sale of a portion of our equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact of efforts to increase affordability of U.S. utility customer rates on our ability to obtain cost recovery from applicable regulators, our capital expenditure and other growth plans and our ability to advance statewide policies; the impact on affordability of customer rates, cost of capital and operating margin due to (i) volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates and (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California; the impact of air quality and climate-related policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability and reliability of electric power, natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
1 Sempra's 2026-2030 capital plan (i) includes Sempra's proportionate ownership interest in projected capital expenditures at unconsolidated equity method investees while excluding Sempra's projected future contributions to those equity method investees and (ii) excludes noncontrolling interests' proportionate ownership interest in projected capital expenditures at Sempra and at unconsolidated equity method investees. Sempra's 2026-2030 capital plan reflects Sempra's 80.25% ownership of Oncor and assumes Sempra's projected 70% ownership of SI Partners through March 31, 2026, and 25% ownership thereafter. All projects in progress and future projects are subject to a number of risks and uncertainties. Sempra's capital plan and expectations regarding potential increases to its capital requirements are based on a number of assumptions, the failure of which to be accurate could materially impact Sempra's actual capital expenditures.
2 Reflects Sempra's proportionate share of its utilities' combined projected 2030 rate base, based on Sempra's ownership interest in each utility.
Greenland Capital Management LP purchased a new position in Sempra Energy (NYSE:SRE – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 78,150 shares of the utilities provider’s stock, valued at approximately $7,245,000. Sempra Energy accounts for 0.9% of Greenland Capital Management LP’s investment portfolio, making the stock its 29th largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of SRE. Bell Investment Advisors Inc lifted its holdings in shares of Sempra Energy by 79.5% during the 1st quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 116 shares during the period. Frazier Financial Advisors LLC bought a new position in Sempra Energy in the second quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Sempra Energy during the second quarter valued at approximately $27,000. Silvant Capital Management LLC acquired a new position in Sempra Energy during the second quarter valued at approximately $28,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in Sempra Energy by 57.7% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
Insider Buying and Selling In other Sempra Energy news, EVP Caroline Winn sold 8,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the sale, the executive vice president owned 25,164 shares in the company, valued at approximately $2,278,600.20. The trade was a 24.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sempra Energy in a research note on Friday, July 17th. Mizuho reiterated a “neutral” rating and issued a $84.00 target price (down from $104.00) on shares of Sempra Energy in a research report on Monday, August 31st. Barclays dropped their target price on shares of Sempra Energy from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. BMO Capital Markets set a $102.00 price target on shares of Sempra Energy and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.00. Get Our Latest Report on SRE
Sempra Energy Stock Performance Sempra Energy stock opened at $83.91 on Monday. The business has a 50 day moving average of $88.74 and a 200-day moving average of $91.82. The company has a market capitalization of $54.87 billion, a P/E ratio of 24.32, a P/E/G ratio of 2.32 and a beta of 0.55. Sempra Energy has a 1 year low of $78.97 and a 1 year high of $101.04. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.62.
Sempra Energy (NYSE:SRE – Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. Sempra Energy had a net margin of 16.70% and a return on equity of 8.49%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $0.89 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. On average, equities research analysts predict that Sempra Energy will post 5.12 earnings per share for the current year.
Sempra Energy Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, September 24th will be given a dividend of $0.6575 per share. This represents a $2.63 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, September 24th. Sempra Energy’s dividend payout ratio (DPR) is currently 76.23%.
About Sempra Energy (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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SAN DIEGO, Sept. 2, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) today announced that its board of directors has declared a $0.6575 per share quarterly dividend on the company's common stock, which is payable Oct. 15, 2026, to common stock shareholders of record at the close of business on Sept.
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Dynatrace (NYSE: DT), the leading AI-powered observability platform, today released findings from The State of SRE and Platform Engineering 2026, a study examining how enterprises are orchestrating observability, automation, and AI to scale site reliability engineering (SRE) and platform engineering in large enterprises. The global survey of 919 IT leaders concludes that rapid AI adoption and the unique ways AI workloads operate is redefining the scope and structure of what these teams must deliver. This shift is forcing organizations to rethink how they manage scale, automation, and control.
The findings demonstrate how SRE and platform engineering teams are at the forefront of integrating new benchmarks, tooling, and capabilities for AI workloads into their reliability and development environments. Gartner® projects that by 2028, 80% of enterprises will adopt SRE practices across their organizations, up from just 30% in 2024. Backed by executive support and shared ownership, these teams now carry growing accountability for the success or failure of AI initiatives, as organizations depend on them to evolve platforms, tooling, and standards.
Closing the Gap Between AI Development and AI Operations
These findings point to why Dynatrace recently announced its intent to acquire Arize. With 67% of SREs now naming AI model monitoring their top use case, and monitoring for model performance and accuracy already the most common AI-powered capability among SREs (58%), the demand for AI evaluation is outpacing the tools built to handle it. Yet AI is falling short on cost reduction and MTTR, and more than a third of platform engineers cite tool integration as their biggest barrier.
The Arize acquisition will help address this need directly: bringing AI-native evaluation into the observability platform itself, so teams building AI models and teams operating them in production are working from the same data instead of stitching together separate systems.
Why scale is the next big challenge for enterprises
The study demonstrates that SRE and platform engineering are now firmly established across large enterprises:
For SREs: 92% of organizations report executive leadership support for SRE initiativesFor platform engineers: 89% of organizations practicing platform engineering have implemented an internal developer platform (IDP), with 60% reporting broad adoption across departmentsFor both roles: 73% of SRE and platform engineering teams now collaborate and share responsibilities across reliability and platform domainsTogether, these findings demonstrate how enterprises have invested deeply in reliability, automation, and developer productivity, and SRE and platform engineering teams are now expected to apply that foundation to the next phase of digital transformation. AI workloads are increasingly part of production infrastructure, but rising complexity, new telemetry, and novel ways of failing are placing increased demands on observability.
AI raises the bar for reliability and oversight
According to the study, agentic AI is driving new priorities and challenges:
For SREs: 89% use service-level objectives (SLOs) across at least some teams or systems. 67% say monitoring AI models are now their top use case.For platform engineers: 55% prioritize enabling developers with AI-powered tools such as coding copilots and chatbots.While AI technologies are generally meeting expectations for improving reliability and developer productivity, they are delivering less impact than expected in lowering costs and reducing mean time to resolution (MTTR). This gap highlights the need for greater system-level intelligence and workflow orchestration than simply adding AI tools to existing environments. Nearly half of SRE respondents stated that too many data sources and metrics hinder their ability to define and manage effective SLOs.
Notably, teams are intentionally prioritizing visibility and human oversight before expanding automation, and monitoring AI systems for model performance and accuracy is SREs’ most common AI-powered capability (58%).
Observability is emerging as the control plane for AI-driven operations
As enterprises push toward greater automation and AI-assisted operations, observability is becoming foundational to AI governance, reliability, and optimization across SRE and platform engineering. However, integration, complexity and fragmented data are emerging as major barriers to progress:
More than a third (37%) of platform engineers report that integrating with existing tools and systems is their top challenge.Only 40% of platform engineers report embedding observability across all deployment stages.Half of SREs now use AI‑powered capabilities for automated incident response, signaling a shift toward agentic operations where observability must act as the control plane that governs when and how autonomous actions are taken.
“SRE and platform engineering laid the groundwork for modern digital reliability, but AI is rewriting the rules. Enterprises need to now move from managing systems to orchestrating them, connecting observability, automation, and agentic AI to operate at the speed these initiatives demand, turning insight into action at scale,” said Steve Tack, Chief Product Officer at Dynatrace. “This research also reflects why we recently announced our intent to acquire Arize. AI engineering teams have been evaluating in one set of tools while operations teams monitor in another, and that gap is no longer sustainable as AI moves deeper into enterprise production.”
Download The State of SRE and Platform Engineering 2026: How enterprises are orchestrating observability, automation and AI to scale reliability report here.
Resources:
SRE best practices and platform engineering trends: How AI workloads raise demands on observability to meet reliability requirementsBeyond correlation to autonomous action: Why 'good enough' observability fails in the age of agentic AIOrchestrate multicloud AI agents for autonomous incident resolutionFAQ
What does The State of SRE and Platform Engineering 2026 research cover, and who did you survey?
The State of SRE and Platform Engineering 2026 is a global Dynatrace research report based on a survey of 919 senior IT leaders, decision makers, managers, and supervisors involved in site reliability engineering, platform engineering, or IT operations at enterprises with annual revenues of $500 million or more. The report examines how organizations are orchestrating observability, automation, and AI to scale SRE and platform engineering practices as AI workloads move into production.
How is AI changing what SRE and platform engineering teams are responsible for?
AI is expanding the scope of both disciplines beyond their original mandates. For SREs, monitoring AI models for performance and drift is now the top use case, surpassing incident response and SLO management. For platform engineers, AI tools require provisioning and governance frameworks that existing platforms weren't built to support. In both cases, accountability for AI outcomes is outpacing the operational frameworks teams have to manage it.
Why are SRE and platform engineering teams becoming more important as AI scales?
As AI workloads move further into production environments, SRE and platform engineering teams are increasingly responsible for the reliability, scalability, and trustworthiness of those systems. The report found that rapid AI adoption is redefining what these teams must deliver, forcing organizations to rethink how they manage scale, automation, and control.
What are the key findings from the report?
The research shows that SRE and platform engineering practices are now firmly established across large enterprises, with 92% of organizations reporting executive leadership support for SRE initiatives, 89% of organizations practicing platform engineering having implemented an internal developer platform, and 73% of SRE and platform engineering teams collaborating and sharing responsibilities across reliability and platform domains.
Why does this report cover SRE and platform engineering together rather than separately?
Both disciplines are being reshaped by the same AI forces simultaneously, but in distinct ways. SREs own production reliability; platform engineers build the platforms developers depend on. Studying them together reveals how AI is stress-testing the entire operational stack, from platform to production, in ways a single-discipline study would miss. Seventy-three percent of these teams already collaborate and share responsibilities.
What new failure modes are AI introducing, and what capabilities do SRE and platform engineering teams need to address them?
AI systems fail differently than traditional software: model drift, inconsistent outputs, rising inference costs, and data security risks don't surface through conventional infrastructure metrics, requiring new instrumentation, governance, and observability capabilities. This helps explain why 67% of SREs and 63% of platform engineers prioritize AI capabilities as the most important observability capability.
Methodology
This report is based on a global survey of 919 senior leaders, decision makers, managers, and supervisors, directly involved in or responsible for site reliability engineering, platform engineering, or IT operations in enterprises with annual revenues of $500 million or more. It was conducted and analyzed by Qualtrics partner Y2 on behalf of Dynatrace between October 2025 and January 2026. Respondents represented organizations across the Americas, EMEA, and Asia-Pacific.
About Dynatrace
Dynatrace is advancing observability for today’s digital businesses, helping to transform the complexity of modern digital ecosystems into powerful business assets. By leveraging AI-powered insights, Dynatrace enables organizations to analyze, automate, and innovate faster to drive their business forward. To learn more about how Dynatrace can help your business, visit www.dynatrace.com, visit our blog and follow us on LinkedIn and X @dynatrace.
Curious to see how you can simplify your cloud and maximize the impact of your digital teams? Let us show you. Sign up for a 15-day Dynatrace trial.
Cautionary Language Concerning Forward-Looking Statements
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits of the proposed Arize acquisition, capabilities expected to be available to organizations from using Dynatrace and Arize following the closing of the proposed acquisition, and the expected future benefits to organizations from using Dynatrace and Arize following the closing of the proposed acquisition. These forward-looking statements include all statements that are not historical facts and statements identified by words such as “will,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies, and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including our ability to successfully complete the Arize acquisition and integrate the newly acquired business and offerings, the risks set forth under the caption “Risk Factors” in our most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document because of new information, future events, or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260825738551/en/
ABS Investment Management LLC bought a new position in Sempra Energy (NYSE:SRE – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 50,093 shares of the utilities provider’s stock, valued at approximately $5,377,180,000. Sempra Energy makes up about 3.7% of ABS Investment Management LLC’s holdings, making the stock its 7th biggest holding.
A number of other institutional investors also recently modified their holdings of the stock. Creative Capital Management Investments LLC grew its stake in Sempra Energy by 12.1% in the first quarter. Creative Capital Management Investments LLC now owns 1,040 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 112 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in Sempra Energy by 79.5% in the first quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider’s stock worth $25,000 after buying an additional 116 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in Sempra Energy by 0.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 35,009 shares of the utilities provider’s stock worth $3,091,000 after buying an additional 123 shares during the last quarter. Rothschild Investment LLC raised its position in Sempra Energy by 3.5% during the fourth quarter. Rothschild Investment LLC now owns 3,666 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 124 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Sempra Energy by 57.7% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.
Wall Street Analysts Forecast Growth Several analysts have commented on SRE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a research report on Friday, July 17th. Morgan Stanley cut their price target on shares of Sempra Energy from $108.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. BMO Capital Markets set a $102.00 price objective on shares of Sempra Energy and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Truist Financial set a $100.00 price objective on shares of Sempra Energy and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Jefferies Financial Group set a $101.00 target price on shares of Sempra Energy in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Sempra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.62.
Get Our Latest Report on Sempra Energy Sempra Energy Stock Down 0.6% Sempra Energy stock opened at $84.03 on Wednesday. The firm has a market cap of $54.95 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 2.03 and a beta of 0.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.62. Sempra Energy has a fifty-two week low of $78.97 and a fifty-two week high of $101.04. The firm has a fifty day moving average price of $90.01 and a two-hundred day moving average price of $92.19.
Sempra Energy (NYSE:SRE – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.14 billion. Sempra Energy had a return on equity of 8.49% and a net margin of 16.70%.The firm’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. As a group, analysts forecast that Sempra Energy will post 5.12 earnings per share for the current year.
Insiders Place Their Bets In other Sempra Energy news, EVP Caroline Ann Winn sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the sale, the executive vice president owned 25,164 shares of the company’s stock, valued at $2,278,600.20. This trade represents a 24.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.31% of the stock is currently owned by insiders.
Sempra Energy Company Profile (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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Bank of New York Mellon Corp acquired a new stake in shares of Sempra Energy (NYSE:SRE – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,017,818 shares of the utilities provider’s stock, valued at approximately $465,202,000. Bank of New York Mellon Corp owned approximately 0.77% of Sempra Energy at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SRE. Bell Investment Advisors Inc raised its stake in shares of Sempra Energy by 79.5% during the first quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 116 shares during the last quarter. Ares Financial Consulting LLC bought a new stake in shares of Sempra Energy in the fourth quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Sempra Energy by 57.7% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 347 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 127 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Sempra Energy by 83.0% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 355 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 161 shares during the period. Finally, Key Financial Inc increased its holdings in Sempra Energy by 73.6% during the 4th quarter. Key Financial Inc now owns 361 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 153 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets SRE has been the subject of a number of recent analyst reports. Wall Street Zen raised Sempra Energy from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. TD Cowen started coverage on Sempra Energy in a research note on Wednesday, July 8th. They issued a “buy” rating for the company. Jefferies Financial Group set a $101.00 price target on shares of Sempra Energy in a report on Thursday, July 16th. Truist Financial set a $100.00 target price on shares of Sempra Energy and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Morgan Stanley cut their target price on shares of Sempra Energy from $108.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.62.
Get Our Latest Stock Report on Sempra Energy Insider Buying and Selling In other Sempra Energy news, EVP Caroline Ann Winn sold 8,000 shares of Sempra Energy stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.55, for a total transaction of $724,400.00. Following the transaction, the executive vice president owned 25,164 shares of the company’s stock, valued at $2,278,600.20. The trade was a 24.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.
Sempra Energy Stock Down 5.2% SRE opened at $82.87 on Friday. The firm’s 50 day simple moving average is $90.31 and its two-hundred day simple moving average is $92.18. The company has a market capitalization of $54.19 billion, a PE ratio of 24.02, a PEG ratio of 2.10 and a beta of 0.57. Sempra Energy has a 1-year low of $78.97 and a 1-year high of $101.04. The company has a current ratio of 1.64, a quick ratio of 1.62 and a debt-to-equity ratio of 0.78.
Sempra Energy (NYSE:SRE – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Sempra Energy had a return on equity of 8.49% and a net margin of 16.70%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. As a group, equities analysts forecast that Sempra Energy will post 5.12 EPS for the current year.
About Sempra Energy (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
Featured Articles Five stocks we like better than Sempra Energy Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
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Allworth Financial LP acquired a new position in shares of Sempra Energy (NYSE:SRE – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,169 shares of the utilities provider’s stock, valued at approximately $1,684,000.
Other institutional investors also recently modified their holdings of the company. Bell Investment Advisors Inc increased its holdings in shares of Sempra Energy by 79.5% in the first quarter. Bell Investment Advisors Inc now owns 262 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Sempra Energy during the 2nd quarter worth $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Sempra Energy in the 2nd quarter valued at $27,000. Ares Financial Consulting LLC acquired a new stake in shares of Sempra Energy in the 4th quarter valued at $26,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Sempra Energy in the 2nd quarter valued at $28,000. Institutional investors own 89.65% of the company’s stock.
Insider Activity at Sempra Energy In related news, EVP Caroline Ann Winn sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.55, for a total transaction of $724,400.00. Following the transaction, the executive vice president directly owned 25,164 shares of the company’s stock, valued at approximately $2,278,600.20. This trade represents a 24.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $102.00 price target on Sempra Energy and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. TD Cowen began coverage on shares of Sempra Energy in a research report on Wednesday, July 8th. They set a “buy” rating on the stock. Jefferies Financial Group set a $101.00 target price on shares of Sempra Energy in a research note on Thursday, July 16th. Barclays lowered their price target on shares of Sempra Energy from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.62. Get Our Latest Stock Report on SRE
Sempra Energy Stock Down 5.2% SRE stock opened at $82.87 on Friday. Sempra Energy has a 1-year low of $78.97 and a 1-year high of $101.04. The business’s 50 day simple moving average is $90.31 and its 200 day simple moving average is $92.18. The company has a current ratio of 1.64, a quick ratio of 1.62 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $54.19 billion, a PE ratio of 24.02, a PEG ratio of 2.10 and a beta of 0.57.
Sempra Energy (NYSE:SRE – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Sempra Energy had a net margin of 16.70% and a return on equity of 8.49%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 earnings per share. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.800-5.300 EPS. As a group, research analysts anticipate that Sempra Energy will post 5.12 EPS for the current year.
About Sempra Energy (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
Further Reading Five stocks we like better than Sempra Energy Blueprint for a Boom: SEC Clears the Crypto Runway Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss Advance Auto Parts Plunged, But Its Turnaround Is Still Working Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
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Americké akciové trhy během dnešního obchodování posilují a směřují k uzavření volatilního týdne v zelených číslech.
Širší index S&P 500 si připisuje 0,44 % na 7675,03 bodu, tradiční index Dow Jones roste o 0,83 % na 53197,16 bodu a technologický Nasdaq Composite zpevňuje o 0,46 % na 26187,5 bodu. Náladu na trhu podporují solidní ekonomická data ukazující na nejrychlejší růst podnikatelské aktivity v USA za poslední čtyři roky, přičemž investoři zároveň sledují situaci kolem dluhopisových výnosů a vyhlížejí nadcházející výsledky společnosti Nvidia Corp (NVDA).
V rámci jednotlivých odvětví indexu S&P 500 se nejvíce daří sektoru základních materiálů se ziskem 2 %, který následují zdravotní péče s růstem o 1,4 % a komunikační služby se ziskem 1 %. Na opačné straně nejvíce odepisují utility s poklesem o 1,6 %, energie se ztrátou 0,3 % a reality, které klesají o 0,1 %.
Mezi nejúspěšnější akcie dne se řadí společnost Robinhood Markets (HOOD) s výrazným nárůstem o 14 %. Výrazně posilují také firmy Moderna (MRNA) o 9,5 %, Coinbase Global (COIN) o 8,4 %, Freeport-McMoRan (FCX) o 7,0 % a Albemarle Corp (ALB) se ziskem 6,3 %. Naopak nejhlubší propad zaznamenává společnost Marvell Technology (MRVL), která ztrácí 5,7 %. Nedaří se ani firmám Sempra (SRE) se ztrátou 4,3 %, Edison International (EIX) a Bunge Global SA (BG) s poklesem o 3,5 % a Quanta Services (PWR), jež oslabuje o 3,3 %.
Na komoditním trhu roste cena severoamerické lehké ropy WTI o 0,3 % na 87,06 dolaru za barel, zatímco spotové zlato posiluje o 2,5 % na 4631,27 dolaru za unci. Americký dolar vůči euru zůstává téměř beze změny na úrovni 1,1678 dolaru. Výnos desetiletých amerických vládních dluhopisů roste o tři bazické body na 4,73 %. Výrazný růst zaznamenává bitcoin, který posiluje o 6,9 % na 77676,71 dolaru.
Index Dow Jones +0,83 % na 53197,16 b.
S&P 500 +0,44 % na 7675,03 b.
Nasdaq Composite +0,46 % na 26187,5 b.
Index S&P 500 +0,44 % na 7675,03 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Základní materiály +2 % Utility -1,6 % Zdravotní péče +1,4 % Energie -0,3 % Komunikační služby +1 % Reality -0,1 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Robinhood Markets (HOOD) +14 % Marvell Technology (MRVL) -5,7 % Moderna (MRNA) +9,5 % Sempra (SRE) -4,3 % Coinbase Global (COIN) +8,4 % Edison International (EIX) -3,5 % Freeport-McMoRan (FCX) +7,0 % Bunge Global SA (BG) -3,5 % Albemarle Corp (ALB) +6,3 % Quanta Services (PWR) -3,3 %
Daniel Marván, Fio banka, a.s.
, /PRNewswire/ -- Sempra (NYSE: SRE) today announced the successful completion of Sempra Infrastructure's sale of Ecogas México, S. de R.L. de C.V. (Ecogas), a natural gas distribution network in Mexico serving over 600,000 residential, commercial and industrial customers across the Mexicali, Chihuahua and La Laguna-Durango regions. Through this strategic transaction, Sempra continues to advance its capital recycling program and execute on its 2026 value creation initiatives, helping simplify the company's business model, strengthen its financial position and support long-term growth at its regulated utilities in Texas and California.
"The successful completion of this transaction reflects the disciplined execution of our strategy and continued focus on recycling capital to the opportunities we believe will create the greatest long-term value," said Jeffrey W. Martin, chairman and CEO of Sempra. "As energy demand continues to grow, we are executing a series of strategic initiatives to better support our customers, while advancing our mission of building America's leading utility growth business."
The transaction generated approximately $500 million in U.S. dollar-equivalent in proceeds and advances Sempra's capital recycling program in support of its record five-year capital plan of approximately $65 billion1, with more than 95% of planned investments directed toward regulated utility infrastructure.
The Ecogas sale complements other strategic actions undertaken by the company, including an agreement to sell a 45% equity interest in Sempra Infrastructure Partners, one of North America's leading energy infrastructure platforms, to affiliates of KKR. The transaction is expected to close in the third quarter of 2026.
Taken together, these transactions are expected to support investments across Sempra's growing portfolio of opportunities in Texas and California, enabling critical transmission and distribution infrastructure investments that serve customers while strengthening safety, reliability and resilience. They also aim to help reduce the company's reliance on future common-equity issuances to fund growth while supporting credit quality and financial strength.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra.
We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054 and the wildfire fund continuation account established by California Senate Bill 254, rates from customers or a combination thereof; decisions, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, California Public Utilities Commission (CPUC), U.S. Department of Energy, Electric Reliability Council of Texas, Inc., U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, such as the planned sale of a portion of our equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact of efforts to increase affordability of U.S. utility customer rates on our ability to obtain cost recovery from applicable regulators, our capital expenditure and other growth plans and our ability to advance statewide policies; the impact on affordability of customer rates, cost of capital and operating margin due to (i) volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates and (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California; the impact of air quality and climate-related policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability and reliability of electric power, natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
1 Refers to Sempra's 2026-2030 capital plan, which (i) includes Sempra's proportionate ownership interest in projected capital expenditures at unconsolidated equity method investees while excluding Sempra's projected future contributions to those equity method investees and (ii) excludes noncontrolling interests' proportionate ownership interest in projected capital expenditures at Sempra and at unconsolidated equity method investees. Our 2026-2030 capital plan reflects our 80.25% ownership of Oncor and assumes our projected 70% ownership of SI Partners through March 31, 2026, and 25% ownership thereafter.
Sempra Energy (NYSE:SRE – Get Free Report) and A2A (OTCMKTS:AEMMY – Get Free Report) are both utilities companies, but which is the superior investment? We will contrast the two businesses based on the strength of their earnings, risk, analyst recommendations, valuation, institutional ownership, dividends and profitability.
Profitability This table compares Sempra Energy and A2A’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Sempra Energy 16.70% 8.49% 2.98% A2A N/A N/A N/A Analyst Ratings This is a breakdown of recent recommendations for Sempra Energy and A2A, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Sempra Energy 0 4 10 1 2.80 A2A 0 0 0 0 0.00 Sempra Energy presently has a consensus price target of $103.92, suggesting a potential upside of 20.88%. Given Sempra Energy’s stronger consensus rating and higher possible upside, equities analysts plainly believe Sempra Energy is more favorable than A2A. Insider & Institutional Ownership 89.7% of Sempra Energy shares are held by institutional investors. 0.3% of Sempra Energy shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.
Earnings & Valuation This table compares Sempra Energy and A2A”s revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Sempra Energy $13.70 billion 4.10 $1.84 billion $3.45 24.92 A2A N/A N/A N/A N/A N/A Sempra Energy has higher revenue and earnings than A2A.
Summary Sempra Energy beats A2A on 10 of the 10 factors compared between the two stocks.
About Sempra Energy (Get Free Report)
Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County. As of December 31, 2023, it offered electric services to approximately 3.6 million population and natural gas services to approximately 3.3 million population that covers 4,100 square miles. This segment owns and operates a natural gas distribution, transmission, and storage system that supplies natural gas. As of December 31, 2023, it serves a population of 21 million covering an area of 24,000 square miles. The Sempra Texas Utilities segment engages in the regulated electricity transmission and distribution. As of December 31, 2023, its transmission system included 18,298 circuit miles of transmission lines; 1,257 transmission and distribution substations; interconnection to 173 third-party generation facilities totaling 54,277 MW; and distribution system included approximately 4.0 million points of delivery and consisted of 125,116 miles of overhead and underground lines. The Sempra Infrastructure segment develops, builds, operates, and invests in energy infrastructure to help enable the energy transition in North American markets and worldwide. The company was formerly known as Sempra Energy and changed its name to Sempra in May 2023. Sempra was incorporated in 1996 and is based in San Diego, California.
About A2A (Get Free Report)
A2A S.p.A. engages in the production, sale, and distribution of gas and electricity, and district heating in Italy and internationally. The company generates electricity through hydroelectric, thermoelectric, photovoltaic, cogeneration, biomass, and wind plants; and sells and distributes gas. It also engages in the production and sale of heat produced through district heating networks; waste management activities, including collection and street sweeping, treatment, disposal, and recovery of materials and energy; and the construction and management of integrated waste disposal plants and systems. In addition, the company offers integrated water cycle management services; and technical consultancy services relating to energy efficiency certificates. Further, it is involved in the management of public lighting systems and street lights, and water purification and sewer activities, as well as offers garbage collection, street sweeping, video surveillance, energy efficiency, and electric mobility services. A2A S.p.A. is headquartered in Milan, Italy.
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, /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a subsidiary of Sempra (NYSE: SRE), announced today that schools, local governments, and other public-sector facilities received more than $10 million in no-cost energy efficiency upgrades through the Public Direct Install Program (PDIP) in 2025, with an additional $32 million in utility bill savings expected over the lifetime of the equipment. The program helps eligible participants identify and implement energy-saving improvements, including high-efficiency water heating technologies such as tankless water heaters, hot water pipe insulation and tank insulation.
The Colton Joint Unified School District is one participant seeing benefits from the PDIP, having completed more than 150 energy efficiency measures through the program across its district facilities over the last three years, including 84 high-efficiency tankless water heaters. By replacing aging equipment through the program, the district reduced natural gas consumption by approximately 20% and saved more than $800,000 through incentives.
"Typically, replacing a traditional water heater with a tankless unit costs anywhere from $8,000 to $12,000," said Energy Programs, Grants, and Sustainability Officer Jay Kim at Colton Joint Unified School District. "This frees up maintenance budgets and allows funding to be redirected back into the classroom for things like art projects, science kits, and musical instruments. That's a win-win for the district and the community we serve."
In 2025, the program installed more than 2,000 energy-efficiency measures across 845 projects and helped reduce energy use by approximately 16.3 million net therms over the lifetime of the installed equipment, the equivalent of serving about 11,500 residential homes for one year1.
"Managing energy costs is an important part of helping schools, local governments and other public-serving organizations make the most of their budgets," said Andrew Steinberg, director of customer programs and assistance at SoCalGas. "This program helps participants make energy efficiency improvements that can reduce their operating expenses, allowing them to direct more resources toward other important services and programs their communities rely on."
Energy efficiency is one of several ways SoCalGas helps customers manage their energy costs and support long-term affordability. As highlighted in The Affordable Way for California, combining energy efficiency with investments in system reliability and underground storage helps support customer energy needs and underscores the value of a flexible, resilient energy system.
The PDIP is part of more than 70 energy efficiency programs administered by SoCalGas that help customers reduce energy use and better manage energy costs through rebates, assessments, direct installation services and other energy-saving solutions.
Eligible public agencies, federal facilities and K-12 schools interested in participating can learn more about available energy efficiency programs at www.socalgas.com/savings.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
1 "Estimate of equivalent avoided carbon dioxide emissions from homes' energy use for one year is converted from therms using the U.S. Environmental Protection Agency's (EPA) Greenhouse Gas Equivalencies calculator. This figure represents an estimate as of a point in time and future changes or updates to the EPA calculator may impact the result."
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When QatarEnergy announced in March that it would halt LNG production due to military strikes on operating facilities, the global gas market absorbed one of its sharpest supply shocks in years. A prediction market tracking whether Qatar would resume production by March 14 resolved with a final price of 0.001 , effectively zero probability, confirming that a quick return to normal was unlikely.
The immediate consequence: Buyers scrambling for alternative supply, with U.S. LNG exporters and infrastructure companies moving to the front of the line. Here are five stocks Wall Street is watching most closely.
1. Cheniere Energy (LNG)
Cheniere Energy (NYSE:LNG | LNG Price Prediction) is the most direct beneficiary of any sustained Qatar supply gap. As the largest U.S. LNG exporter, Cheniere delivered a record 670 cargoes in 2025, with Q4 2025 EPS of $10.68 against a consensus estimate of $3.87 , a beat reflecting both operational momentum and approximately $1.60 billion in favorable derivative fair value variances. The stock has responded sharply to the Qatar crisis narrative: Shares are up nearly 36% year to date through Aug. 13.
Twenty analysts rate it a Buy or Strong Buy against just three Hold ratings and zero Sell ratings. Near-term capacity additions are on track: CCL Stage 3 Train 5 produced first LNG in February 2026, with Trains 6 and 7 completing through the year. Management’s 2026 Adjusted EBITDA guidance of $6.75–$7.25 billion was set before the Qatar disruption, making upside revisions plausible if spot LNG prices stay elevated.
2. Venture Global (VG)
Venture Global (NYSE:VG) has been the highest-beta trade in the LNG space since the Qatar crisis broke. Shares are up 132.16% year to date through March 20, rising from $6.81 at year-end to $15.81. The company is ramping aggressively: Plaquemines LNG has 34 of 36 trains online, with CP2 Phase I reaching FID with $15.1 billion in project financing. Full-year 2025 revenue hit $13.77 billion, up 176.93% year-over-year.
The risk profile is elevated: Q2 2026 EPS of 51 cents missed the 50-cent estimate, while quarterly revenue came in at $4.58 billion. The analyst consensus target of $16.13 suggests as much as 19.40% upside over the next year. Venture Global is a high-conviction macro play on U.S. LNG expansion, but valuation has run well ahead of analyst models.
3. Kinder Morgan (KMI)
Kinder Morgan (NYSE:KMI) is the infrastructure backbone of the U.S. LNG buildout, currently holding long-term contracts to move 8 Bcf/d of natural gas to LNG facilities, growing to 12 Bcf/d by end of 2028. Its $10 billion project backlog is approximately 90% natural gas, anchored by the $1.8 billion Trident Intrastate Pipeline targeting Q1 2027 service to Port Arthur, Texas.
Shares are up 14.58% year to date, with the analyst consensus target at $35.50—nearly 12% upside from current levels. Kinder Morgan’s fee-based model insulates it from commodity price swings, making it the steadier infrastructure expression of the LNG thesis.
4. EQT Corporation (EQT)
EQT Corporation (NYSE:EQT) is the upstream supplier behind the entire U.S. LNG export complex. With 93% of proved reserves in the Marcellus Shale and 4.5 mtpa in LNG offtake agreements with Sempra, NextDecade, and Commonwealth LNG beginning 2030–2031, EQT has locked in long-term demand for its gas. Free cash flow surged to $2.95 billion in 2025, up 414.5% year-over-year, while total debt fell from $9.30 billion to $7.80 billion.
The analyst community is broadly constructive: 22 Buy ratings versus six Hold ratings and one Sell rating, with a consensus target of $68.08, or more than 26% higher than where the stock traded on Aug. 13. Shares trade at a forward P/E of 13.30, reasonable for a producer with this cash flow trajectory. Zacks Equity Research has specifically cited EQT as a beneficiary of “mounting clean energy demand” in recent coverage.
5. Sempra (SRE)
Sempra (NYSE:SRE) offers more measured but structurally significant LNG exposure. Its Port Arthur LNG Phase 2 reached FID with 20-year offtake agreements in place, and EQT has already signed 4.5 mtpa in LNG offtake with Sempra beginning 2030–2031. The company’s $65 billion five-year capital plan (2026–2030) is heavily weighted toward regulated utilities, providing earnings stability that pure LNG plays lack.
Eleven of the 15 analysts covering SRE assign the stock a Buy rating with a consensus target of $104.23, more than 20% above current levels. Year-to-date performance has been muted at 3.43% loss, partly reflecting a $432 million regulatory charge and California wildfire liability concerns. Sempra pays a dividend that yields 3.04% and offers the most defensive risk profile in this group.
The Broader Picture
The Qatar disruption has accelerated a trend already underway: global buyers diversifying toward long-term U.S. LNG contracts. Henry Hub spiked to $7.72/MMBtu in January before pulling back to $3.62 in February, signaling how sensitive global gas markets have become to supply shocks.
The five companies above cover every layer of the value chain: production (EQT), transportation (Kinder Morgan), export terminals (Cheniere, Venture Global) and integrated infrastructure (Sempra). Key uncertainties include regulatory hurdles, particularly DOE export approvals for non-FTA countries, and execution risk on multi-billion dollar construction timelines. But the structural demand signal from the Qatar crisis has given Wall Street a clear reason to revisit every name in the U.S. LNG supply chain.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- Southern California Gas Company (SoCalGas), a subsidiary of Sempra (NYSE: SRE), is recognizing National 811 Day by celebrating a record-low infrastructure damage rate and encouraging Californians to continue the safe-digging practices that are helping prevent damage to critical underground utility infrastructure.
In 2025, more than 1.1 million Californians called 811 to locate and mark underground utility lines across SoCalGas's service territory, a 6% increase from the previous year and one of the highest levels of participation on record.
As calls to the 811 program continue to grow, SoCalGas achieved its lowest damage rate on record, demonstrating the impact safe digging practices can have on protecting communities, workers and essential utility services.
The increase in 811 participation coincides with a 32% reduction in dig-in incidents since 2019, underscoring the effectiveness of public awareness efforts, safe excavation practices and collaboration among homeowners, contractors, local agencies and utilities.
The sustained increase in 811 requests also reflects the ongoing operational work required to locate and mark underground infrastructure across a large and active service territory, reinforcing the importance of continued public awareness, field response and damage prevention programs.
"The record calls we're seeing to the 811 program is making a real difference," said Cedric Williams, chief safety officer at SoCalGas. "More people are taking the simple step of contacting 811 before digging, and the result is fewer damages to underground infrastructure and safer communities. National 811 Day is an opportunity to celebrate that progress while reminding everyone that every dig-in is preventable."
While approximately 2,400 dig-in incidents were recorded in 2025, the company achieved its lowest damage rate on record despite continued excavation activity throughout the region, highlighting the positive impact of increased awareness and use of the 811 program.
Despite this progress, nearly 60% of dig-in incidents in 2025 occurred because 811 was not called before excavation began, highlighting one of the most preventable causes of infrastructure damage. Data consistently show that contacting 811 before digging dramatically reduces the likelihood of damaging underground utilities.
Additionally, approximately 70% of dig-in incidents occurred on private property, reinforcing the importance of homeowners calling 811 before starting common projects such as planting trees, installing fences, landscaping or building decks.
National 811 Day, observed annually on Aug. 11, serves as a reminder to contact 811 at least two business days before digging, excluding the day of notification. After a request is submitted, utility operators will mark the approximate location of underground utility lines, helping prevent injuries, property damage, service disruptions and costly repairs.
The company's progress in damage prevention reflects its broader commitment to safety and operational excellence and the responsible management of critical energy infrastructure across Southern California.
Whether planting trees, installing fences, building decks, landscaping or undertaking larger construction projects, SoCalGas encourages everyone to make calling 811 their first step before breaking ground.
Know Before You Dig
Before starting any digging project:
Contact 811 or submit a request online. Wait for underground utility lines to be marked. Confirm all utility operators have responded. Dig carefully around marked utility lines. For more information about safe digging practices, visit socalgas.com/811.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
Sempra Energy (NYSE:SRE) affirmed its 2026 and 2027 earnings guidance as management highlighted higher earnings across its business segments, a planned asset-sale strategy and growing transmission investment opportunities in Texas during its second-quarter earnings call.
The company reported second-quarter 2026 GAAP earnings of $796 million, or $1.21 per diluted share, compared with $461 million, or $0.71 per share, in the prior-year quarter. On an adjusted basis, earnings rose to $762 million, or $1.16 per share, from $583 million, or $0.89 per share, a year earlier.
Chief Executive Officer Jeff Martin said the company’s operating businesses were executing well and that year-to-date adjusted earnings per share showed double-digit gains, with positive contributions from each of its three growth segments.
Guidance and Capital Plan Chief Financial Officer Karen Sedgwick said Sempra reaffirmed its full-year 2026 adjusted EPS guidance range of $4.80 to $5.30 and its 2027 range of $5.10 to $5.70. The company also maintained its projected long-term EPS growth rate of 7% to 9%.
Sedgwick said the company remains focused on closing the pending sale of a 45% equity stake in SI Partners, strengthening its balance sheet after the transaction and advancing its $65 billion capital plan. The transaction is expected to close later in the third quarter.
Martin said the SI Partners sale supports Sempra’s strategy of simplifying its business model, recycling capital into regulated utilities and reducing the need for common equity under its current capital plan. The transaction is also expected to deconsolidate nearly $9 billion of debt from Sempra’s balance sheet.
Management said it expects Texas to become a larger share of the company’s operations, with a goal for the state to account for more than 60% of Sempra’s total rate base by 2030.
Texas Demand and Oncor Investment Opportunities Sempra emphasized growth prospects at Oncor, its Texas electric transmission and distribution business, as ERCOT recorded an all-time peak load of 91 gigawatts in July. Oncor’s five-year base capital plan totals $47.5 billion, supplemented by $10 billion in identified incremental capital opportunities through 2030.
The incremental opportunities include $4 billion of North and Central Texas transmission upgrades endorsed by ERCOT, $3 billion of non-Permian Basin reliability projects endorsed in 2025 and approximately $3 billion associated with a system resiliency plan filing expected next year.
Martin said Oncor expects its next five-year capital-plan update on Sempra’s fourth-quarter call. He said management expects the plan to increase and that the business has flexibility to sequence projects within its capital program.
The Public Utility Commission of Texas recently approved ERCOT’s Batch Zero process for evaluating and sequencing large-load interconnection requests. Sempra said 44 GW of load requests could be eligible as base or studied load on Oncor’s transmission system, including 27 GW classified as base load and 17 GW requiring further system-wide reliability analysis.
That potential load would equal a 140% increase over Oncor’s current system peak load of 31 GW. About 8 GW of the 44 GW is already connected and expected to ramp toward full utilization, according to management. Oncor holds nearly $6 billion in collateral from large-load customers, including more than $2 billion related to the Batch Zero submissions.
Management said any transmission projects ultimately required through Batch Zero would be incremental to both Oncor’s base plan and its currently identified incremental opportunities. ERCOT’s timeline for identifying potential transmission projects is expected to extend beyond February 2027, meaning Oncor’s next capital-plan update is not expected to include Batch Zero-related investments.
Oncor CEO Allen Nye said the company’s overall interconnection queue reached 298 GW. He said the difference between a previously cited 127.5 GW advanced pipeline and the 44 GW in Batch Zero reflects stricter requirements under the finalized Batch Zero rules, including completed studies, financial security, site control and contracting-resource attestations.
Infrastructure Projects and Balance Sheet Martin said Sempra Infrastructure is progressing on the planned sale of Ecogas in Mexico after receiving a regulatory approval, with the transaction expected to close later in August.
At ECA LNG Phase 1, Sempra Infrastructure CEO Justin Bird said the company identified damage to equipment connected to mixed refrigerant compressors following planned maintenance and inspections after its first cargo export in July. The company is working with its engineering, procurement and construction contractor and the original equipment vendor on the cause and remediation plan.
Bird said ECA LNG Phase 1 is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale-and-purchase agreements beginning shortly afterward. He said the company does not anticipate further delays and that ECA’s substantial completion is not a condition precedent for the SI Partners transaction.
Management also said Port Arthur LNG Phases 1 and 2 remain on time and on budget.
Sedgwick said the SI Partners transaction is central to Sempra’s credit-improvement efforts. She said Moody’s is monitoring the closing of the transaction, associated debt deconsolidation and progress on infrastructure-project milestones. Sedgwick said she expects rating-agency changes could come early next year, while noting the company is meeting regularly with rating agencies.
California Wildfire Discussions and Leadership Changes Management said it remains constructive on California legislative discussions regarding wildfire liability and broader affordability and insurance issues, but declined to assess potential proposals before bill language is available.
Martin said the company’s California rate base is growing at roughly 5%, compared with utility-platform growth of approximately 11% at the enterprise level. He said Sempra believes its existing California capital plan is appropriately sized to support safety, reliability and affordability.
At the end of the call, Martin announced that Sedgwick will become the incoming chief executive officer of Southern California Gas Co. Justin Bird will become Sempra’s incoming chief financial officer. The leadership rotations are expected to take effect around the close of the SI Partners transaction later in the quarter.
About Sempra Energy (NYSE:SRE) Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
Media assets here LOS ANGELES, Aug. 10, 2026 /PRNewswire/ -- Southern California Gas Company (SoCalGas), a subsidiary of Sempra (NYSE: SRE), today announced the rollout of updated employee uniforms designed to support customers' identification of SoCalGas employees working in their communities while also enhancing employee safety and performance in the field. The updated uniforms feature prominent company branding, embroidered employee first names and lightweight flame-resistant materials, providing customers with additional visual cues to recognize SoCalGas employees when work is being performed at homes and businesses.
3 Stocks Investing $650 Billion in the U.S.—Should You Invest?Sempra Energy NYSE: SRE affirmed its 2026 and 2027 earnings guidance as management highlighted higher earnings across its business segments, a planned asset-sale strategy and growing transmission investment opportunities in Texas during its second-quarter earnings call.
The company reported second-quarter 2026 GAAP earnings of $796 million, or $1.21 per diluted share, compared with $461 million, or $0.71 per share, in the prior-year quarter. On an adjusted basis, earnings rose to $762 million, or $1.16 per share, from $583 million, or $0.89 per share, a year earlier.
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3 Utility Stocks to Weather Market StormsChief Executive Officer Jeff Martin said the company’s operating businesses were executing well and that year-to-date adjusted earnings per share showed double-digit gains, with positive contributions from each of its three growth segments.
Guidance and Capital Plan Chief Financial Officer Karen Sedgwick said Sempra reaffirmed its full-year 2026 adjusted EPS guidance range of $4.80 to $5.30 and its 2027 range of $5.10 to $5.70. The company also maintained its projected long-term EPS growth rate of 7% to 9%.
Sedgwick said the company remains focused on closing the pending sale of a 45% equity stake in SI Partners, strengthening its balance sheet after the transaction and advancing its $65 billion capital plan. The transaction is expected to close later in the third quarter.
Martin said the SI Partners sale supports Sempra’s strategy of simplifying its business model, recycling capital into regulated utilities and reducing the need for common equity under its current capital plan. The transaction is also expected to deconsolidate nearly $9 billion of debt from Sempra’s balance sheet.
Management said it expects Texas to become a larger share of the company’s operations, with a goal for the state to account for more than 60% of Sempra’s total rate base by 2030.
Texas Demand and Oncor Investment Opportunities Sempra emphasized growth prospects at Oncor, its Texas electric transmission and distribution business, as ERCOT recorded an all-time peak load of 91 gigawatts in July. Oncor’s five-year base capital plan totals $47.5 billion, supplemented by $10 billion in identified incremental capital opportunities through 2030.
The incremental opportunities include $4 billion of North and Central Texas transmission upgrades endorsed by ERCOT, $3 billion of non-Permian Basin reliability projects endorsed in 2025 and approximately $3 billion associated with a system resiliency plan filing expected next year.
Martin said Oncor expects its next five-year capital-plan update on Sempra’s fourth-quarter call. He said management expects the plan to increase and that the business has flexibility to sequence projects within its capital program.
The Public Utility Commission of Texas recently approved ERCOT’s Batch Zero process for evaluating and sequencing large-load interconnection requests. Sempra said 44 GW of load requests could be eligible as base or studied load on Oncor’s transmission system, including 27 GW classified as base load and 17 GW requiring further system-wide reliability analysis.
That potential load would equal a 140% increase over Oncor’s current system peak load of 31 GW. About 8 GW of the 44 GW is already connected and expected to ramp toward full utilization, according to management. Oncor holds nearly $6 billion in collateral from large-load customers, including more than $2 billion related to the Batch Zero submissions.
Management said any transmission projects ultimately required through Batch Zero would be incremental to both Oncor’s base plan and its currently identified incremental opportunities. ERCOT’s timeline for identifying potential transmission projects is expected to extend beyond February 2027, meaning Oncor’s next capital-plan update is not expected to include Batch Zero-related investments.
Oncor CEO Allen Nye said the company’s overall interconnection queue reached 298 GW. He said the difference between a previously cited 127.5 GW advanced pipeline and the 44 GW in Batch Zero reflects stricter requirements under the finalized Batch Zero rules, including completed studies, financial security, site control and contracting-resource attestations.
Infrastructure Projects and Balance Sheet Martin said Sempra Infrastructure is progressing on the planned sale of Ecogas in Mexico after receiving a regulatory approval, with the transaction expected to close later in August.
At ECA LNG Phase 1, Sempra Infrastructure CEO Justin Bird said the company identified damage to equipment connected to mixed refrigerant compressors following planned maintenance and inspections after its first cargo export in July. The company is working with its engineering, procurement and construction contractor and the original equipment vendor on the cause and remediation plan.
Bird said ECA LNG Phase 1 is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale-and-purchase agreements beginning shortly afterward. He said the company does not anticipate further delays and that ECA’s substantial completion is not a condition precedent for the SI Partners transaction.
Management also said Port Arthur LNG Phases 1 and 2 remain on time and on budget.
Sedgwick said the SI Partners transaction is central to Sempra’s credit-improvement efforts. She said Moody’s is monitoring the closing of the transaction, associated debt deconsolidation and progress on infrastructure-project milestones. Sedgwick said she expects rating-agency changes could come early next year, while noting the company is meeting regularly with rating agencies.
California Wildfire Discussions and Leadership Changes Management said it remains constructive on California legislative discussions regarding wildfire liability and broader affordability and insurance issues, but declined to assess potential proposals before bill language is available.
Martin said the company’s California rate base is growing at roughly 5%, compared with utility-platform growth of approximately 11% at the enterprise level. He said Sempra believes its existing California capital plan is appropriately sized to support safety, reliability and affordability.
At the end of the call, Martin announced that Sedgwick will become the incoming chief executive officer of Southern California Gas Co. Justin Bird will become Sempra’s incoming chief financial officer. The leadership rotations are expected to take effect around the close of the SI Partners transaction later in the quarter.
About Sempra Energy (NYSE:SRE)Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company's product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Sempra (SRE - Free Report) reported $3 billion in revenue for the quarter ended June 2026, representing a year-over-year decline of 0.1%. EPS of $1.16 for the same period compares to $0.89 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.22 billion, representing a surprise of -6.83%. The company delivered an EPS surprise of +14.85%, with the consensus EPS estimate being $1.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Sempra performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Sempra Infrastructure: $512 million versus $618.73 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.Revenue- Southern California Gas (SoCalGas): $1.19 billion compared to the $1.34 billion average estimate based on two analysts.Revenue- San Diego Gas & Electric (SDG&E): $1.37 billion versus $1.3 billion estimated by two analysts on average.Revenue- Oncor Holdings (TEXAS): $2.06 billion versus $1.96 billion estimated by two analysts on average.Earnings (losses) attributable to common shares- Sempra Infrastructure: $230 million compared to the $184.11 million average estimate based on two analysts.Earnings (losses) attributable to common shares- Parent & Other: $-77 million compared to the $-105.52 million average estimate based on two analysts.Earnings (losses) attributable to common shares- Southern California Gas (SoCalGas): $107 million compared to the $113.76 million average estimate based on two analysts.Earnings (losses) attributable to common shares- San Diego Gas & Electric: $190 million versus $164.5 million estimated by two analysts on average.Earnings (losses) attributable to common shares- Sempra Texas Utilities: $346 million versus $372.83 million estimated by two analysts on average.View all Key Company Metrics for Sempra here>>>
Shares of Sempra have returned -10.9% over the past month versus the Zacks S&P 500 composite's +2.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
, /PRNewswire/ -- Southern California Gas Company ("SoCalGas") today announced that its board of directors has approved the retirement (the "Retirement") of all outstanding shares of the company's 6% Preferred Stock, $25 par value ("Preferred Stock"), and 6% Preferred Stock, Series A, $25 par value ("Series A Preferred Stock"). SoCalGas is effecting the Retirement to simplify its capital structure while delivering immediate value to shareholders, all as part of its efforts to modernize its business and serve its stakeholders.
The approval by the board of directors follows shareholder approval of the amendment and restatement of the company's Restated Articles of Incorporation that implements the Retirement and makes certain other related changes (as so amended and restated, the "Restated Charter") at a special meeting of SoCalGas shareholders held on Aug. 6, 2026.
SoCalGas plans to file the Restated Charter with the California Secretary of State on Aug. 17, 2026 (the "Retirement Date"). On the Retirement Date, each outstanding share of the company's Preferred Stock and Series A Preferred Stock will be automatically retired in exchange for a cash payment of $31.135616 per share (the "Retirement Payment"), constituting $31.00 per share plus accrued and unpaid dividends thereon to but excluding the Retirement Date.
The Retirement Payment is payable on the Retirement Date, to holders of record of the Preferred Stock and Series A Preferred Stock on such date.
Following the Retirement, no shares of Preferred Stock or Series A Preferred Stock will be outstanding, and certificates or book entries representing such retired shares will represent only the receipt of or right to receive the Retirement Payment.
In the interest of facilitating an orderly retirement process, SoCalGas plans to voluntarily withdraw both the Preferred Stock (OTCQB: SOCGM) and the Series A Preferred Stock (OTCQB: SOCGP) from quotation on the OTCQB market, effective after market close on Aug. 13, 2026.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
Sempra (SRE - Free Report) came out with quarterly earnings of $1.16 per share, beating the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +14.85%. A quarter ago, it was expected that this natural gas and electricity provider would post earnings of $1.51 per share when it actually produced earnings of $1.51, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Sempra, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $3 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 6.83%. This compares to year-ago revenues of $3 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Sempra shares have lost about 4.1% since the beginning of the year versus the S&P 500's gain of 12.8%.
What's Next for Sempra?While Sempra has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Sempra was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.13 on $3.35 billion in revenues for the coming quarter and $5.12 on $13.98 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, New Era Energy & Digital, Inc. (NUAI - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +57.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
New Era Energy & Digital, Inc.'s revenues are expected to be $0.25 million, up 19.1% from the year-ago quarter.
Key Takeaways Sempra beat Q2 EPS estimates as earnings rose across California, Texas Utilities and Infrastructure segments.SRE revenues slipped year over year and missed estimates despite stronger operating cash flow.Sempra reaffirmed 2026 EPS guidance and issued 2027 guidance with a 7-9% long-term EPS growth target. Sempra (SRE - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of $1.16, which beat the Zacks Consensus Estimate of $1.01 by 14.9%. The bottom line increased 30.3% from the year-ago quarter’s figure of 89 cents.
Including one-time items, the company generated GAAP earnings of $1.21 per share compared with 71 cents in the second quarter of 2025.
SRE’s Total RevenuesRevenues of $2.997 billion missed the Zacks Consensus Estimate of $3.22 billion by 6.8%. The top line decreased 0.1% from $3 billion in the year-ago quarter.
SRE’s Segmental UpdateSempra California: Quarterly earnings amounted to $297 million compared with the year-ago quarter’s level of $259 million.
Sempra Texas Utilities: Earnings in this segment increased to $346 million from $208 million in the year-ago quarter.
Sempra Infrastructure: The segment recorded earnings of $230 million compared with $72 million in the year-ago quarter.
Parent and Other: The segment reported a loss of $77 million, narrower than the prior-year period’s loss of $78 million.
SRE’s Financial UpdateAs of June 30, 2026, Sempra Energy’s cash and cash equivalents totaled $0.05 billion compared with $0.03 billion as of Dec. 31, 2025.
As of the same date, long-term debt and finance leases amounted to $31.02 billion compared with $28.98 billion as of Dec. 31, 2025.
Cash flow from operating activities in the first six months of 2026 totaled $3.12 billion compared with $2.27 billion in the year ago period.
SRE’s GuidanceThe company expects its 2026 adjusted earnings to be in the range of $4.80-$5.30 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.12 per share, higher than the midpoint of the company’s guided range.
SRE has also provided a full-year 2027 EPS guidance of $5.10-$5.70. Sempra expects a 7-9% long???term EPS growth rate.
SRE’s Zacks RankSempra Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases TotalEnergies SE (TTE - Free Report) reported second-quarter 2026 operating earnings of $2.68 (€2.31) per share, which lagged the Zacks Consensus Estimate of $3.07 by 12.7%. The bottom line improved 70.7% from the year-ago figure of $1.57 (€1.38).
TTE’s total revenues for the second quarter were $57.1 billion, which increased from the year-ago reported figure of $47.9 billion by 27.8%. The metric lagged the Zacks Consensus Estimate of $60.18 billion by 5.13%.
Energy Transfer LP (ET - Free Report) reported second-quarter 2026 earnings of 59 cents per unit, which beat the Zacks Consensus Estimate of 39 cents by 51.28%. The bottom line increased 84.4% from 32 cents a year ago.
ET’s revenues of $34.33 billion surpassed the consensus estimate of $31.09 billion by 10.42% and climbed 78.4% year over year.
Devon Energy Corporation (DVN - Free Report) reported second-quarter 2026 adjusted earnings of $1.57 per share, which beat the Zacks Consensus Estimate of $1.30 by 20.77%.
DVN’s revenues of $7.41 billion surpassed the consensus estimate of $6.29 billion by 17.81% and increased 73.1% year over year.
, /PRNewswire/ -- Sempra (NYSE: SRE) today reported second-quarter 2026 earnings, prepared in accordance with Generally Accepted Accounting Principles (GAAP), of $796 million or $1.21 per diluted share, compared to second-quarter 2025 GAAP earnings of $461 million or $0.71 per diluted share. On an adjusted basis, second-quarter 2026 earnings were $762 million or $1.16 per diluted share, compared to $583 million or $0.89 per diluted share in 2025.
"Across our management team, there is a consistent emphasis on execution, and our progress through the first half of the year is reflected in strong financial performance," said Jeffrey W. Martin, chairman and CEO of Sempra. "I could not be more proud of our employees and their commitment to innovation and continuous improvement, as we look to find new and better ways to serve customers."
The reported financial results reflect certain significant items as described on an after-tax basis in the following table of GAAP earnings, reconciled to adjusted earnings, for second-quarter 2026 and 2025.
(Dollars and shares in millions, except EPS)
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
GAAP Earnings
$ 796
$ 461
$ 1,833
$ 1,367
Impact from regulatory disallowances
—
25
—
25
Impact from foreign currency and inflation on monetary positions in
Mexico and associated undesignated derivatives
71
97
52
89
Net unrealized (gains) losses on derivatives
(82)
(25)
(85)
10
Net unrealized (gains) losses on interest rate swaps related to Port Arthur
LNG Phase 1 project
(3)
(1)
8
8
Tax items related to assets held for sale
(20)
26
(55)
26
Adjusted Earnings(1)
$ 762
$ 583
$ 1,753
$ 1,525
Diluted Weighted-Average Common Shares Outstanding
656
653
656
653
GAAP EPS
$ 1.21
$ 0.71
$ 2.80
$ 2.09
Adjusted EPS(1)
$ 1.16
$ 0.89
$ 2.67
$ 2.34
(1) See Table A for information regarding non-GAAP financial measures.
Advancing Value Creation Initiatives
During the second quarter, Sempra continued executing on a series of value creation initiatives to further its mission of building America's leading utility growth business. Taken together, these initiatives are designed to simplify the company's strategy, strengthen its financial position and support long-term utility growth.
In the first half of 2026, Sempra's businesses invested capital expenditures of over $6 billion to support safe, reliable and affordable energy for the communities we serve. These investments are part of Sempra's record five-year 2026-2030 capital plan of approximately $65 billion, with 95% allocated to investments at our Texas and California utilities.
Sempra Texas
Sempra continues to see strong growth opportunities in Texas through its investment in Oncor Electric Delivery Company LLC (Oncor). During the quarter, Oncor's new base rates became effective June 1. In addition, Oncor filed the surcharge that was approved through its recent base rate review. The surcharge, which took effect August 1, recovers the difference between the new base rates and the rates in effect from January 1 to June 1, 2026. The updated base rates better align Oncor's cost structure with today's operating environment, strengthen its financial profile and support continued infrastructure investments to meet Texas' growing energy needs.
Texas continues to experience unprecedented growth in electric demand as evidenced by Electric Reliability Council of Texas' (ERCOT) new all-time peak load of 91 gigawatts (GW) set in July. Continued growth in demand is leading to a series of new opportunities to invest in the electric grid.
Earlier this year, ERCOT endorsed a series of high-voltage transmission projects expected to require more than $7 billion of incremental investment, supporting approximately 16 GW of new electric demand with anticipated in-service dates between 2026 and 2034. Oncor expects to construct the majority of those projects, which are subject to regulatory approval.
Also, the Public Utility Commission of Texas recently approved ERCOT's Batch Zero process, establishing a standardized framework intended to streamline large-load interconnections and support growing demand across the electric grid. While the timeline of the Batch Zero process remains to be determined, approximately 44 GW of large-load requests in Oncor's service territory are expected to be eligible as base or studied load, consisting of approximately 27 GW of base load and 17 GW of studied load. The referenced 44 GW also includes 8 GW of existing interconnected large load that is ramping up to its authorized capacity. The projects reflect significant customer commitment through financial security, site control and other ERCOT qualification requirements, reinforcing the substantial demand for infrastructure investment across Oncor's service territory. For context, if fully realized, these requests would represent over 140% growth relative to Oncor's current system peak load of 31 GW.
Sempra California
In California, Sempra's utilities remained focused on advancing safety, reliability and affordability for customers. During the quarter, San Diego Gas & Electric (SDGE) and Southern California Gas Company (SoCalGas) filed their 2028 General Rate Case (GRC) applications. Together, these GRC applications demonstrate a balanced approach to advancing critical safety and reliability investments supporting wildfire risk reduction, electric reliability and resilience, and pipeline safety, while maintaining disciplined cost management and a focus on customer affordability.
Regulatory momentum continued in the quarter, including the approval by the Federal Energy Regulatory Commission of SDGE's electric transmission rate, or TO6, settlement. The settlement provides a constructive outcome for SDGE's transmission business, including an authorized base return on equity of approximately 10.28% and a supportive regulatory framework for continued transmission investment. Additionally, the California Independent System Operator's 2025–2026 Transmission Plan included over $160 million of reliability-driven projects for SDGE, further supporting grid resilience.
Sempra California also continued to advance innovation and deliver meaningful benefits for customers. SoCalGas estimates that its energy efficiency programs helped customers save more than $100 million on their utility bills last year, while SDGE expanded its battery energy storage capacity in the second quarter to support grid reliability. In addition, SDGE launched a collaboration with Qualcomm Technologies, Inc. and the University of California San Diego's Scripps Institution of Oceanography to develop edge-based artificial intelligence technology aimed at enhancing extreme-weather response capabilities. In combination, these efforts reflect Sempra California's broader commitment to safety, innovation and long-term system reliability.
Sempra Infrastructure Partners Strategic Updates
The transaction to sell a 45% equity interest in Sempra Infrastructure Partners to affiliates of KKR remains on track and is expected to close in the third quarter of 2026, subject to required approvals and customary closing conditions. The planned sale of Ecogas México, S. de R.L. de C.V. continues to advance following the recent approval without condition by Mexico's antitrust authority and is expected to close in August. These transactions further Sempra's capital recycling program with a view toward simplifying the company's strategy, strengthening its financial position and supporting long-term utility growth.
Earnings Guidance
Sempra is updating its full-year 2026 GAAP earnings-per-common share (EPS) guidance range to $5.02 to $5.55, reflecting actual results through the second quarter, affirming its 2026 adjusted EPS guidance range of $4.80 to $5.30 and affirming its full-year 2027 EPS guidance range of $5.10 to $5.70. Sempra is also affirming a 7% to 9% projected long‑term EPS growth rate.
Non-GAAP Financial Measures
Non-GAAP financial measures include Sempra's adjusted earnings, adjusted EPS and adjusted EPS guidance range. See Table A for additional information regarding these non-GAAP financial measures.
Internet Broadcast
Sempra will broadcast a live discussion of its earnings results over the internet today at 12 p.m. ET with the company's senior management. Access is available by visiting the Investors section of the company's website at sempra.com/investors. The webcast will be available on replay a few hours after its conclusion at sempra.com/investors.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra.
We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054 and the wildfire fund continuation account established by California Senate Bill 254, rates from customers or a combination thereof; decisions, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, California Public Utilities Commission (CPUC), U.S. Department of Energy, Electric Reliability Council of Texas, Inc., U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions, such as the planned sale of a portion of our equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact of efforts to increase affordability of U.S. utility customer rates on our ability to obtain cost recovery from applicable regulators, our capital expenditure and other growth plans and our ability to advance statewide policies; the impact on affordability of customer rates, cost of capital and operating margin due to (i) volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates and (ii) with respect to SDG&E's and SoCalGas' businesses, the cost of meeting the demand for lower carbon and reliable energy in California; the impact of air quality and climate-related policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability and reliability of electric power, natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document.
SEMPRA
Table A
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in millions, except per share amounts; shares in thousands)
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
REVENUES
Utilities:
Natural gas
$ 1,364
$ 1,470
$ 3,389
$ 3,832
Electric
1,158
1,031
2,382
2,090
Energy-related businesses
475
499
881
880
Total revenues
2,997
3,000
6,652
6,802
EXPENSES AND OTHER INCOME
Utilities:
Cost of natural gas
(63)
(183)
(398)
(676)
Cost of electric fuel and purchased power
(114)
(91)
(195)
(143)
Energy-related businesses cost of sales
69
(85)
(7)
(204)
Operation and maintenance
(1,251)
(1,239)
(2,493)
(2,582)
Depreciation and amortization
(612)
(653)
(1,233)
(1,293)
Franchise fees and other taxes
(194)
(165)
(404)
(361)
Other income, net
67
59
167
150
Interest income
38
14
78
48
Interest expense
(430)
(359)
(812)
(792)
Income before income taxes and equity earnings
507
298
1,355
949
Income tax expense
(112)
(172)
(177)
(229)
Equity earnings
547
393
914
718
Net income
942
519
2,092
1,438
Earnings attributable to noncontrolling interests
(141)
(46)
(248)
(48)
Earnings attributable to contingently redeemable noncontrolling interest
(4)
—
(10)
—
Preferred dividends
—
(11)
—
(22)
Preferred dividends of subsidiary
(1)
(1)
(1)
(1)
Earnings attributable to common shares
$ 796
$ 461
$ 1,833
$ 1,367
Basic earnings per common share (EPS):
Earnings
$ 1.22
$ 0.71
$ 2.80
$ 2.10
Weighted-average common shares outstanding
654,038
652,664
653,815
652,330
Diluted EPS:
Earnings
$ 1.21
$ 0.71
$ 2.80
$ 2.09
Weighted-average common shares outstanding
655,945
653,224
655,718
653,123
SEMPRA
Table A (Continued)
Sempra Adjusted Earnings and Adjusted EPS are non-GAAP financial measures (GAAP represents generally accepted accounting principles in the United States of America). These non-GAAP financial measures exclude significant items that are generally not related to our ongoing business activities and/or are infrequent in nature. These non-GAAP financial measures also exclude the impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives and net unrealized gains and losses on commodity and interest rate derivatives, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP.
RECONCILIATION OF SEMPRA ADJUSTED EARNINGS AND ADJUSTED EPS TO SEMPRA GAAP EARNINGS AND GAAP EPS
Sempra Adjusted Earnings and Adjusted EPS exclude items (after the effects of income taxes and, if applicable, noncontrolling interests (NCI)) in 2026 and 2025 as follows:
Three months ended June 30, 2026:
$(71) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $82 million net unrealized gains on commodity derivatives $3 million net unrealized gains on interest rate swaps related to the initial phase of the Port Arthur LNG liquefaction project (PA LNG Phase 1 project) $20 million net income tax benefit as a result of classifying Sempra Infrastructure Partners, LP (SI Partners) and Ecogas México, S. de R.L. de C.V. (Ecogas) as held for sale, which such amounts could change in future periods until the dates of sale: $21 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $(1) million income tax expense to adjust a Mexican deferred tax liability on our outside basis difference in our investment in Ecogas Three months ended June 30, 2025:
$(25) million impact from regulatory disallowances related to the recovery of coronavirus disease 2019 (COVID-19) costs at Sempra California $(97) million impact from foreign currency and inflation on our monetary positions in Mexico $25 million net unrealized gains on commodity derivatives $1 million net unrealized gains on interest rate swaps related to the PA LNG Phase 1 project $(26) million income tax expense due to the recognition of a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas as a result of classifying the asset as held for sale Six months ended June 30, 2026:
$(52) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $85 million net unrealized gains on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $55 million income tax benefit as a result of classifying SI Partners and Ecogas as held for sale, which such amounts could change in future periods until the dates of sale: $54 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $1 million income tax benefit to adjust a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas Six months ended June 30, 2025:
$(25) million impact from regulatory disallowances related to the recovery of COVID-19 costs at Sempra California $(89) million impact from foreign currency and inflation on our monetary positions in Mexico $(10) million net unrealized losses on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $(26) million income tax expense due to the recognition of a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas as a result of classifying the asset as held for sale The table below reconciles Sempra Adjusted Earnings and Adjusted EPS to Sempra GAAP Earnings and GAAP EPS, which we consider to be the most directly comparable financial measures calculated in accordance with GAAP.
RECONCILIATION OF ADJUSTED EARNINGS AND ADJUSTED EPS TO GAAP EARNINGS AND GAAP EPS
(Dollars in millions, except per share amounts; shares in thousands)
Pretax
amount
Income
tax
expense
(benefit)(1)
Non-
controlling
interests
Earnings
Diluted
EPS
Pretax
amount
Income
tax
(benefit)
expense(1)
Non-
controlling
interests
Earnings
Diluted
EPS
Three months ended June 30, 2026
Three months ended June 30, 2025
Sempra GAAP Earnings and GAAP EPS
$ 796
$ 1.21
$ 461
$ 0.71
Excluded items:
Impact from regulatory disallowances
$ —
$ —
$ —
—
—
$ 36
$ (11)
$ —
25
0.04
Impact from foreign currency and inflation
on monetary positions in Mexico and
associated undesignated derivatives
60
38
(27)
71
0.11
24
122
(49)
97
0.14
Net unrealized gains on commodity
derivatives
(182)
33
67
(82)
(0.13)
(46)
6
15
(25)
(0.04)
Net unrealized gains on interest rate
swaps related to PA LNG Phase 1
project
(21)
1
17
(3)
—
(9)
1
7
(1)
—
Tax items related to assets held for sale
—
(20)
—
(20)
(0.03)
—
38
(12)
26
0.04
Sempra Adjusted Earnings and Adjusted EPS
$ 762
$ 1.16
$ 583
$ 0.89
Weighted-average common shares
outstanding, diluted
655,945
653,224
Six months ended June 30, 2026
Six months ended June 30, 2025
Sempra GAAP Earnings and GAAP EPS
$ 1,833
$ 2.80
$ 1,367
$ 2.09
Excluded items:
Impact from regulatory disallowances
$ —
$ —
$ —
—
—
$ 36
$ (11)
$ —
25
0.04
Impact from foreign currency and inflation
on monetary positions in Mexico and
associated undesignated derivatives
49
20
(17)
52
0.07
22
112
(45)
89
0.14
Net unrealized (gains) losses on commodity
derivatives
(173)
38
50
(85)
(0.13)
23
(9)
(4)
10
0.02
Net unrealized losses on interest rate
swaps related to PA LNG Phase 1
project
54
(3)
(43)
8
0.01
56
(3)
(45)
8
0.01
Tax items related to assets held for sale
—
(56)
1
(55)
(0.08)
—
38
(12)
26
0.04
Sempra Adjusted Earnings and Adjusted EPS
$ 1,753
$ 2.67
$ 1,525
$ 2.34
Weighted-average common shares
outstanding, diluted
655,718
653,123
(1) Except for adjustments that are solely income tax and tax related to outside basis differences, income taxes on pretax amounts were primarily calculated based
on applicable statutory tax rates.
SEMPRA
Table A (Continued)
Sempra 2026 Adjusted EPS Guidance is a non-GAAP financial measure. This non-GAAP financial measure excludes significant items that are generally not related to our ongoing business activities and/or infrequent in nature. This non-GAAP financial measure also excludes the impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives and net unrealized gains and losses on commodity and interest rate derivatives for the six months ended June 30, 2026, which we expect to occur in future periods, and which can vary significantly from one period to the next. Exclusion of these items is useful to management and investors because it provides a meaningful comparison of the performance of Sempra's business operations to prior and future periods.
Because we cannot reasonably estimate the forward-looking amount or range of amounts of reasonably estimable GAAP amounts, this non-GAAP financial measure does not contemplate the anticipated impacts of each of the following future events:
impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives net unrealized gains and losses on commodity and interest rate derivatives any potential gain from the agreement to sell an equity interest in SI Partners to the KKR Partners that was entered into in September 2025, as the purchase price is subject to closing adjustments, post-closing adjustments, and tax items related to our outside basis difference in SI Partners, all of which are subject to adjustments based on changes in carrying value, foreign exchange rates and inflation until the date of sale ancillary costs associated with the sale of SI Partners We expect to complete the sale of SI Partners in the third quarter of 2026, which we expect to be accretive. Sempra 2026 Adjusted EPS Guidance Range should not be considered an alternative to Sempra 2026 GAAP EPS Guidance Range. Non-GAAP financial measures are supplementary information that should be considered in addition to, but not as a substitute for, the information prepared in accordance with GAAP.
RECONCILIATION OF SEMPRA 2026 ADJUSTED EPS GUIDANCE RANGE TO SEMPRA 2026 GAAP EPS GUIDANCE RANGE
Sempra 2026 Adjusted EPS Guidance Range of $4.80 to $5.30 excludes items (after the effects of income taxes and, if applicable, NCI) for the six months ended June 30, 2026 as follows:
$(52) million impact from foreign currency and inflation on our monetary positions in Mexico and associated undesignated derivatives $85 million net unrealized gains on commodity derivatives $(8) million net unrealized losses on interest rate swaps related to the PA LNG Phase 1 project $55 million income tax benefit as a result of classifying SI Partners and Ecogas as held for sale, which such amounts could change in future periods until the dates of sale: $54 million income tax benefit to adjust deferred income tax liabilities primarily related to outside basis differences in our investment in SI Partners $1 million income tax benefit to adjust a Mexican deferred tax liability on the outside basis difference in our investment in Ecogas a gain on sale of Ecogas ranging from approximately $165 million ($57 million after tax and NCI) to $205 million ($77 million after tax and NCI), which SI Partners expects to complete in August 2026 The table below reconciles Sempra 2026 Adjusted EPS Guidance Range to Sempra 2026 GAAP EPS Guidance Range, which we consider to be the most directly comparable financial measure calculated in accordance with GAAP.
RECONCILIATION OF ADJUSTED EPS GUIDANCE RANGE TO GAAP EPS GUIDANCE RANGE
Full-Year 2026
Sempra GAAP EPS Guidance Range
$ 5.02
to
$ 5.55
Excluded items:
Impact from foreign currency and inflation on monetary positions in Mexico and associated undesignated derivatives
0.07
0.07
Net unrealized gains on commodity derivatives
(0.13)
(0.13)
Net unrealized losses on interest rate swaps related to PA LNG Phase 1 project
0.01
0.01
Tax items related to assets held for sale
(0.08)
(0.08)
Estimated gain on sale of Ecogas
(0.09)
(0.12)
Sempra Adjusted EPS Guidance Range
$ 4.80
to
$ 5.30
Weighted-average common shares outstanding, diluted (millions)
655
SEMPRA
Table B
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
June 30,
December 31,
2026
2025(1)
ASSETS
Current assets:
Cash and cash equivalents
$ 48
$ 29
Restricted cash
2
2
Accounts receivable – trade, net
1,442
1,767
Accounts receivable – other, net
190
157
Due from unconsolidated affiliates
45
—
Income taxes receivable
252
71
Inventories
496
561
Regulatory assets
511
761
Greenhouse gas allowances
196
203
Assets held for sale
32,939
31,024
Other current assets
169
262
Total current assets
36,290
34,837
Other assets:
Regulatory assets
4,297
3,868
Greenhouse gas allowances
1,498
1,221
Nuclear decommissioning trusts
920
899
Dedicated assets in support of certain benefit plans
617
605
Deferred income taxes
10
10
Right-of-use assets – operating leases
1,279
1,262
Investment in Oncor Holdings
19,002
17,472
Other investments
150
147
Wildfire fund
235
246
Other long-term assets
1,247
1,300
Total other assets
29,255
27,030
Property, plant and equipment, net
49,736
49,011
Total assets
$ 115,281
$ 110,878
(1) Derived from audited financial statements.
SEMPRA
Table B (Continued)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in millions)
June 30,
December 31,
2026
2025(1)
LIABILITIES, CONTINGENTLY REDEEMABLE NONCONTROLLING INTEREST, AND EQUITY
Current liabilities:
Short-term debt
$ 3,566
$ 4,166
Accounts payable – trade
1,225
1,461
Accounts payable – other
198
203
Due to unconsolidated affiliates
—
8
Dividends and interest payable
807
770
Accrued compensation and benefits
358
521
Regulatory liabilities
3
3
Current portion of long-term debt and finance leases
2,075
1,876
Greenhouse gas obligations
196
203
Liabilities held for sale
12,992
11,704
Other current liabilities
685
979
Total current liabilities
22,105
21,894
Long-term debt and finance leases
31,023
28,979
Deferred credits and other liabilities:
Regulatory liabilities
4,396
4,250
Greenhouse gas obligations
1,164
957
Pension and other postretirement benefit plan obligations, net of plan assets
119
124
Deferred income taxes
6,505
6,127
Asset retirement obligations
3,816
3,743
Deferred credits and other
2,847
2,805
Total deferred credits and other liabilities
18,847
18,006
Contingently redeemable noncontrolling interest
3,308
3,206
Equity:
Sempra shareholders' equity
32,685
31,594
Preferred stock of subsidiary
20
20
Other noncontrolling interests
7,293
7,179
Total equity
39,998
38,793
Total liabilities, contingently redeemable noncontrolling interest, and equity
$ 115,281
$ 110,878
(1) Derived from audited financial statements.
SEMPRA
Table C
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
Six months ended June 30,
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income
$ 2,092
$ 1,438
Adjustments to reconcile net income to net cash provided by operating activities
456
797
Net change in working capital components
268
(498)
Distributions from investments
721
516
Changes in other noncurrent assets and liabilities, net
(420)
13
Net cash provided by operating activities
3,117
2,266
CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures for property, plant and equipment
(4,687)
(4,640)
Expenditures for investments
(1,485)
(972)
Purchases of nuclear decommissioning and other trust assets
(650)
(531)
Proceeds from sales of nuclear decommissioning and other trust assets
679
580
Advances to unconsolidated affiliates
(30)
—
Other
9
—
Net cash used in investing activities
(6,164)
(5,563)
CASH FLOWS FROM FINANCING ACTIVITIES
Common dividends paid
(826)
(787)
Preferred dividends paid
—
(22)
Issuances of common stock, net
30
19
Repurchases of common stock
(21)
(58)
Issuances of debt (maturities greater than 90 days)
8,092
5,458
Payments on debt (maturities greater than 90 days) and finance leases
(4,544)
(3,411)
(Decrease) increase in short-term debt, net
(600)
682
Advances from unconsolidated affiliates
79
44
Contributions from noncontrolling interests
74
83
Distributions to noncontrolling interests
(135)
(91)
Termination of interest rate swaps, net of transaction costs
96
—
Other
(51)
(26)
Net cash provided by financing activities
2,194
1,891
Effect of exchange rate changes on cash, cash equivalents and restricted cash
1
1
Decrease in cash, cash equivalents and restricted cash
(852)
(1,405)
Cash, cash equivalents and restricted cash, January 1
3,552
1,589
Cash, cash equivalents and restricted cash, June 30
$ 2,700
$ 184
SEMPRA
Table D
SEGMENT EARNINGS (LOSSES) AND CAPITAL EXPENDITURES
(Dollars in millions)
Three months ended June 30,
Six months ended June 30,
2026
2025
2026
2025
EARNINGS (LOSSES) ATTRIBUTABLE TO COMMON SHARES
Sempra California
$ 297
$ 259
$ 1,017
$ 983
Sempra Texas Utilities
346
208
517
354
Sempra Infrastructure
230
72
492
218
Segment earnings attributable to common shares
873
539
2,026
1,555
Parent and other
(77)
(78)
(193)
(188)
Sempra earnings attributable to common shares
$ 796
$ 461
$ 1,833
$ 1,367
CAPITAL EXPENDITURES FOR PROPERTY, PLANT AND EQUIPMENT
Sempra California
$ 934
$ 1,221
$ 1,901
$ 2,315
Sempra Infrastructure
1,291
1,081
2,784
2,322
Segment totals
2,225
2,302
4,685
4,637
Parent and other
1
2
2
3
Total Sempra
$ 2,226
$ 2,304
$ 4,687
$ 4,640
CAPITAL EXPENDITURES FOR INVESTMENTS
Sempra Texas Utilities
$ 609
$ 485
$ 1,485
$ 971
Sempra Infrastructure
—
1
—
1
Total Sempra
$ 609
$ 486
$ 1,485
$ 972
SEMPRA
Table D (Continued)
RECONCILIATION OF SEMPRA'S CAPITAL PLAN TO PROJECTED FUTURE CAPITAL EXPENDITURES
(Dollars in billions)
Sempra
California
Sempra
Texas Utilities
Sempra
Infrastructure
Total Sempra
Capital Plan for 2026 – 2030(1)
Projected future capital expenditures for PP&E and investments – GAAP
$ 23.5
$ 11.1
$ 4.1
$ 38.7
Capital expenditures to unconsolidated entities(2)
—
(11.1)
(2.6)
(13.7)
Capital expenditures at unconsolidated entities(3)
—
38.2
2.7
40.9
Capital expenditures attributable to NCI owners(4)
—
—
(1.0)
(1.0)
Capital Plan
$ 23.5
$ 38.2
$ 3.2
$ 64.9
Percentage of projected future capital expenditures for PP&E and investments – GAAP
61 %
29 %
10 %
100 %
Percentage of Capital Plan
36 %
59 %
5 %
100 %
(1)
All projects in progress and future projects are subject to a number of risks and uncertainties. Sempra's Capital Plan and expectations
regarding potential increases to its capital requirements are based on a number of assumptions, the failure of which to be accurate could
materially impact Sempra's actual Capital Plan. Sempra's Capital Plan assumes Sempra's 70% consolidated ownership of SI Partners
for the first three months of 2026 and 25% ownership thereafter, which represents Sempra's remaining interest under the equity method
upon completion of the sale of a 45% equity interest in SI Partners. Sempra's Capital Plan is considered by management to be an
operating measure.
(2)
Represents Sempra's projected future capital contributions to unconsolidated equity method investees.
(3)
Represents Sempra's proportionate ownership interest in projected capital expenditures at unconsolidated equity method investees.
(4)
Represents NCI's proportionate ownership interest in projected capital expenditures at Sempra and at unconsolidated equity method
investees.
SEMPRA'S CAPITAL DEPLOYED
(Dollars in billions)
Total Sempra
Six months ended
June 30, 2026
Capital expenditures for PP&E and investments – GAAP
$ 6.2
Capital expenditures to unconsolidated entities(1)
(1.5)
Capital expenditures at unconsolidated entities(2)
3.2
Capital expenditures attributable to NCI owners(3)
(1.8)
Capital deployed
$ 6.1
(1)
Represents Sempra's actual capital contributions to unconsolidated equity method investees.
(2)
Represents Sempra's proportionate ownership interest in actual capital expenditures at unconsolidated equity method investees.
(3)
Represents NCI's proportionate ownership interest in actual capital expenditures at Sempra and at unconsolidated equity method
investees.
SEMPRA
Table E
OTHER OPERATING STATISTICS
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
UTILITIES
Sempra California
Gas sales (Bcf)(1)
68
75
161
191
Transportation (Bcf)(1)
106
114
213
245
Total deliveries (Bcf)(1)
174
189
374
436
Total gas customer meters (thousands)
7,147
7,135
Electric sales (millions of kWhs)(1)
632
610
1,320
1,325
Community Choice Aggregation and Direct Access (millions of kWhs)
3,259
3,104
6,558
6,536
Total deliveries (millions of kWhs)(1)
3,891
3,714
7,878
7,861
Total electric customer meters (thousands)
1,554
1,540
Oncor Electric Delivery Company LLC (Oncor)(2)
Total deliveries (millions of kWhs)
44,595
42,226
84,784
81,232
Total electric customer meters (thousands)
4,141
4,084
Ecogas
Natural gas sales (Bcf)
1
1
2
2
Natural gas customer meters (thousands)
173
166
ENERGY-RELATED BUSINESSES
Sempra Infrastructure
Termoeléctrica de Mexicali (millions of kWhs)
492
776
1,269
1,478
Wind and solar (millions of kWhs)(1)
971
842
1,710
1,588
(1)
Includes intercompany sales.
(2)
Includes 100% of the electric deliveries and customer meters of Oncor, in which we hold an 80.25% interest through our investment in
Oncor Electric Delivery Holdings Company LLC.
SEMPRA
Table F
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Sempra
California
Sempra Texas
Utilities(1)
Sempra
Infrastructure
Segment
Totals
Consolidating
Adjustments,
Parent & Other
Total
Three months ended June 30, 2026
Revenues
$ 2,511
$ 512
$ 3,023
$ (26)
$ 2,997
Operation and maintenance
(995)
(229)
(1,224)
(27)
(1,251)
Depreciation and amortization
(607)
(3)
(610)
(2)
(612)
Interest income
5
26
31
7
38
Interest expense(2)
(256)
(10)
(266)
(164)
(430)
Income tax (expense) benefit
(39)
(157)
(196)
84
(112)
Equity earnings
$ 348
199
547
547
Earnings attributable to noncontrolling interests
(141)
(141)
(141)
Earnings attributable to contingently redeemable noncontrolling interest
(4)
(4)
(4)
Other segment items(3)
(322)
(2)
37
(287)
51
(236)
Earnings (losses) attributable to common shares
$ 297
$ 346
$ 230
$ 873
$ (77)
$ 796
Three months ended June 30, 2025
Revenues
$ 2,490
$ 530
$ 3,020
$ (20)
$ 3,000
Operation and maintenance
(1,000)
(213)
(1,213)
(26)
(1,239)
Depreciation and amortization
(574)
(78)
(652)
(1)
(653)
Interest income
3
5
8
6
14
Interest expense(2)
(228)
6
(222)
(137)
(359)
Income tax (expense) benefit
(13)
(231)
(244)
72
(172)
Equity earnings
$ 210
183
393
393
Earnings attributable to noncontrolling interests
(46)
(46)
(46)
Other segment items(3)
(419)
(2)
(84)
(505)
28
(477)
Earnings (losses) attributable to common shares
$ 259
$ 208
$ 72
$ 539
$ (78)
$ 461
(1)
Substantially all earnings attributable to common shares are from equity earnings.
(2)
Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.
(3)
Includes cost of natural gas, cost of electric fuel and purchased power, franchise fees and other taxes, other income (expense), net, and preferred dividends for Sempra California; operation and maintenance (O&M) and interest expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.
SEMPRA
Table F (Continued)
STATEMENTS OF OPERATIONS DATA BY SEGMENT
(Dollars in millions)
Sempra
California
Sempra Texas
Utilities(1)
Sempra
Infrastructure
Segment
Totals
Consolidating
Adjustments,
Parent & Other
Total
Six months ended June 30, 2026
Revenues
$ 5,742
$ 955
$ 6,697
$ (45)
$ 6,652
Operation and maintenance
(2,011)
(450)
(2,461)
(32)
(2,493)
Depreciation and amortization
(1,224)
(6)
(1,230)
(3)
(1,233)
Interest income
7
59
66
12
78
Interest expense(2)
(500)
—
(500)
(312)
(812)
Income tax (expense) benefit
(128)
(171)
(299)
122
(177)
Equity earnings
$ 521
393
914
914
Earnings attributable to noncontrolling interests
(248)
(248)
(248)
Earnings attributable to contingently redeemable noncontrolling interest
(10)
(10)
(10)
Other segment items(3)
(869)
(4)
(30)
(903)
65
(838)
Earnings (losses) attributable to common shares
$ 1,017
$ 517
$ 492
$ 2,026
$ (193)
$ 1,833
Six months ended June 30, 2025
Revenues
$ 5,891
$ 956
$ 6,847
$ (45)
$ 6,802
Operation and maintenance
(2,175)
(387)
(2,562)
(20)
(2,582)
Depreciation and amortization
(1,136)
(154)
(1,290)
(3)
(1,293)
Interest income
5
24
29
19
48
Interest expense(2)
(453)
(71)
(524)
(268)
(792)
Income tax (expense) benefit
(65)
(253)
(318)
89
(229)
Equity earnings
$ 358
360
718
718
Earnings attributable to noncontrolling interests
(48)
(48)
(48)
Other segment items(3)
(1,084)
(4)
(209)
(1,297)
40
(1,257)
Earnings (losses) attributable to common shares
$ 983
$ 354
$ 218
$ 1,555
$ (188)
$ 1,367
(1)
Substantially all earnings attributable to common shares are from equity earnings.
(2)
Sempra Infrastructure includes net unrealized gains (losses) from undesignated interest rate swaps related to the PA LNG Phase 1 project.
(3)
Includes cost of natural gas, cost of electric fuel and purchased power, franchise fees and other taxes, and other income (expense), net, and preferred dividends for Sempra California; O&M and interest expense for Sempra Texas Utilities related to activities at the holding company; and cost of natural gas, energy-related businesses cost of sales, franchise fees and other taxes, and other income (expense), net, for Sempra Infrastructure.
, /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") today reported net income of $428 million for the three months ended June 30, 2026, compared to net income of $259 million in the three months ended June 30, 2025. The increase in net income of $169 million was driven by overall higher revenues primarily attributable to revenues recognized in connection with the surcharge filed pursuant to our comprehensive base rate review, an increase in other regulated revenues recognized related to the Unified Tracker Mechanism ("UTM") and the System Resiliency Plan ("SRP"), higher revenues due to new base rates that went into effect on June 1, 2026, updated interim rates to reflect increases in invested capital, and customer growth. Financial and operational results are provided in Tables A, B, C, D, and E below.
"Economic growth cannot occur without responsible infrastructure investment, and nowhere is that more evident than in Texas today," said Oncor CEO Allen Nye. "State leaders have recently asked whether all stakeholders' concerns and the reliability of the grid are being properly considered during this period of unprecedented growth. We share the concerns of ensuring a well-balanced process that meets the needs of both reliability and Texas stakeholders. We look forward to building the infrastructure the state needs to benefit all Texans. Also, as ERCOT set new peak demand records this summer, I want to thank our employees and contractors for all their work in the summer heat to maintain the reliability of the grid and serve our customers."
Oncor also reported net income of $640 million for the six months ended June 30, 2026, compared to net income of $440 million in the six months ended June 30, 2025. The increase in net income of $200 million was driven by overall higher revenues primarily attributable to an increase in other regulated revenues recognized related to the UTM and the SRP, revenues recognized in connection with the surcharge filed pursuant to our comprehensive base rate review, higher revenues due to new base rates that went into effect on June 1, 2026, updated interim rates to reflect increases in invested capital, and customer growth.
Operational Highlights
In the second quarter of 2026, Oncor built, rebuilt, or upgraded more than 900 circuit miles of transmission and distribution lines and increased its premise count by approximately 16,200, reflecting ongoing population and business growth in Texas. Active transmission point-of-interconnection ("POI") requests increased 15% year over year. As of August 1, 2026, Oncor held approximately $5.9 billion in customer collateral for active generation and Large Commercial and Industrial ("LC&I") transmission POI requests. This collateral is intended to reduce the risk of rate payers bearing costs for projects that are cancelled after Oncor has expended funds toward building the infrastructure.
As of June 30, 2026, Oncor had 552 active generation POI requests in queue, composed of approximately 46% storage, 39% solar, 8% wind, and 7% gas. In addition, Oncor's active transmission LC&I interconnection queue included 737 requests at the end of the second quarter of 2026. Those requests included approximately 282 gigawatts from data centers and over 16 gigawatts of load from various other industrial sectors, demonstrating broad-based industrial growth within Oncor's service territory.
During the second quarter of 2026, Oncor continued to execute on projects designed to meet increasing system reliability needs and sustained customer growth. Among other projects, in June, Oncor placed in service its portion of a new 165-mile double-circuit 345 kV transmission line known as the Delaware Basin Stage 2 Project, the first in a series of upgrades needed to resolve urgent electricity import constraints into far west Texas.
In June, the Electric Reliability Council of Texas, Inc. ("ERCOT") endorsed several new transmission projects serving the southern Dallas–Fort Worth area and the I-35 corridor. Together with a series of other high voltage upgrades in the southern Dallas-Fort Worth area endorsed by ERCOT in April, these projects are expected to improve customer-serving capacity across Central and North Texas while providing improved reliability benefits to all customers. All together, these projects are expected to require investment of over $7 billion with expected construction windows between 2026 and 2034. Oncor has responsibility to construct the vast majority of these projects, subject to regulatory approvals where needed.
To address accelerating demand, the ERCOT board of directors and the Public Utility Commission of Texas ("PUCT") approved a system-wide approach to sequence large-load interconnection requests, the first stage of which is known as the Batch Zero process. While the timeline for Batch Zero remains to be determined, approximately 44 gigawatts of large-load requests are expected to be eligible as base or studied load to be connected to Oncor's transmission system, consisting of approximately 27 gigawatts of base load and approximately 17 gigawatts of studied load. The approximately 44 gigawatts also include approximately 8 gigawatts of existing interconnected large load that is ramping up to its authorized capacity. The projects reflect significant customer commitment through financial security, site control, and other ERCOT qualification requirements, reinforcing the substantial demand for infrastructure investment across Oncor's service territory. Oncor holds approximately $2 billion of large load customer collateral related to the Batch Zero projects, which is part of the approximately $5.9 billion of customer collateral mentioned above.
Regulatory Update
On August 1, 2026, Oncor implemented a temporary surcharge in accordance with its recently completed comprehensive base rate review to recover the difference between Oncor's rates in effect from January 1, 2026 to June 1, 2026, and the new rates approved by the PUCT in the base rate review, which became effective on June 1, 2026. The surcharge reflects approximately $212 million of deferred revenues to be recovered in rates through the end of the year, $181 million of which were recognized during the second quarter of 2026 in accordance with generally accepted accounting principles. The surcharge will result in an average monthly increase of approximately $3.63 over current rates for a residential customer using 1,000 kWh of electricity per month.
Liquidity Update
As of August 5, 2026, Oncor's available liquidity totaled approximately $3.6 billion, consisting of cash on hand and available borrowing capacity under its credit facilities, commercial paper program, and accounts receivable facility. Oncor anticipates these resources, combined with projected cash flows from operations and future financing activities, will be sufficient to meet capital expenditures, maturities of long-term debt, and other operational needs for at least the next twelve months.
Sempra Internet Broadcast Today
Sempra (NYSE: SRE) will broadcast a live discussion of its earnings results over the Internet today at 12 p.m. ET, which will include discussion of second quarter 2026 results and other information relating to Oncor. Oncor executives will also participate in the broadcast. Access to the broadcast is available by logging onto the Investors section of Sempra's website, sempra.com/investors. Prior to the conference call, an accompanying slide presentation will be posted on sempra.com/investors. For those unable to participate during the live webcast, a replay will be available a few hours after its conclusion at sempra.com/investors.
Quarterly Report on Form 10-Q
Oncor's Quarterly Report on Form 10-Q for the period ended June 30, 2026 will be filed with the U.S. Securities and Exchange Commission after Sempra's conference call and once filed, will be available on Oncor's website, oncor.com.
About Oncor
Headquartered in Dallas, Oncor is a regulated electricity transmission and distribution business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor (together with its subsidiaries) operates the largest transmission and distribution system in Texas, delivering electricity to more than 4.1 million homes and businesses and operating more than 145,000 circuit miles of transmission and distribution lines in Texas. While Oncor is owned by two investors (indirect majority owner, Sempra, and minority owner, Texas Transmission Investment LLC), Oncor is managed by its Board of Directors, which is comprised of a majority of disinterested directors.
Oncor Electric Delivery Company LLC
Table A – Condensed Statements of Consolidated Income (Unaudited)
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
(U.S. dollars in millions)
Operating revenues
$
2,062
$
1,654
$
3,786
$
3,202
Operating expenses:
Wholesale transmission service
390
367
771
720
Operation and maintenance
455
368
858
738
Depreciation and amortization
352
290
680
577
Provision in lieu of income taxes
93
55
139
94
Taxes other than amounts related to income taxes
154
142
314
289
Total operating expenses
1,444
1,222
2,762
2,418
Operating income
618
432
1,024
784
Other (income) and deductions – net
(47)
(19)
(80)
(32)
Non-operating provision (benefit) in lieu of income taxes
1
-
1
(1)
Interest expense and related charges
236
192
463
377
Net income
$
428
$
259
$
640
$
440
Oncor Electric Delivery Company LLC
Table B – Condensed Statements of Consolidated Cash Flows (Unaudited)
Six Months Ended June 30,
2026
2025
(U.S. dollars in millions)
Cash flows – operating activities:
Net income
$
640
$
440
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization, including regulatory amortization
Debt discount, premium, financing and reacquisition costs – net
(29)
(38)
Cash provided by financing activities
3,503
2,538
Cash flows – investing activities:
Capital expenditures
(4,150)
(2,821)
Sales and use tax audit settlement refund
17
-
Other – net
42
22
Cash used in investing activities
(4,091)
(2,799)
Net change in cash, cash equivalents and restricted cash
64
333
Cash, cash equivalents and restricted cash – beginning balance
719
262
Cash, cash equivalents and restricted cash – ending balance
$
783
$
595
Oncor Electric Delivery Company LLC
Table C – Condensed Consolidated Balance Sheets (Unaudited)
At June 30,
At December 31,
2026
2025
(U.S. dollars in millions)
ASSETS
Current assets:
Cash and cash equivalents
$
24
$
87
Restricted cash, current
8
11
Accounts receivable – net
1,463
1,048
Amounts receivable from members related to income taxes
5
48
Materials and supplies inventories – at average cost
882
690
Prepayments and other current assets
188
140
Total current assets
2,570
2,024
Restricted cash, noncurrent
751
621
Investments and other property
219
203
Property, plant and equipment – net
41,240
37,834
Goodwill
4,740
4,740
Regulatory assets
2,293
2,049
Right-of-use operating lease assets
298
265
Other noncurrent assets
64
59
Total assets
$
52,175
$
47,795
LIABILITIES AND MEMBERSHIP INTERESTS
Current liabilities:
Accounts payable – trade
$
1,429
$
1,332
Amounts payable to members related to income taxes
19
31
Accrued taxes other than amounts related to income
198
296
Accrued interest
216
216
Long-term debt, current
5
-
Operating lease and other current liabilities
375
409
Total current liabilities
2,242
2,284
Long-term debt, noncurrent
21,188
19,043
Liability in lieu of deferred income taxes
3,020
2,841
Regulatory liabilities
3,006
3,034
Employee benefit plan obligations
1,246
1,275
Operating lease obligations
266
239
Other noncurrent obligations
877
711
Total liabilities
31,845
29,427
Commitments and contingencies
Membership interests:
Capital account – number of units outstanding at June 30, 2026 and December 31, 2025 – 635,000,000
20,515
18,596
Accumulated other comprehensive loss
(185)
(228)
Total membership interests
20,330
18,368
Total liabilities and membership interests
$
52,175
$
47,795
Oncor Electric Delivery Company LLC
Table D – Operating Statistics
Mixed Measures
Twelve Months Ended June 30,
%
2026
2025
Change
Reliability statistics (a):
System Average Interruption Duration Index (SAIDI) (non-storm)
81.0
79.4
2.0
System Average Interruption Frequency Index (SAIFI) (non-storm)
1.2
1.1
9.1
Customer Average Interruption Duration Index (CAIDI) (non-storm)
68.0
70.9
(4.1)
Electricity points of delivery (end of period and in thousands):
Electricity distribution points of delivery (based on number of active meters)
4,141
4,084
1.4
Three Months Ended June 30,
Increase
Six Months Ended June 30,
Increase
2026
2025
(Decrease)
2026
2025
(Decrease)
Residential system weighted weather data (b):
Cooling degree days
617
570
47
690
598
92
Heating degree days
5
17
(12)
360
589
(229)
Three Months Ended June 30,
%
Six Months Ended June 30,
%
2026
2025
Change
2026
2025
Change
Operating statistics:
Electric energy volumes (gigawatt-hours)
Residential
11,541
11,280
2.3
21,627
22,533
(4.0)
Commercial, industrial, small business and other
33,054
30,946
6.8
63,157
58,699
7.6
Total electric energy volumes
44,595
42,226
5.6
84,784
81,232
4.4
____________
(a)
SAIDI is the average number of minutes electric service is interrupted per consumer in a twelve-month period. SAIFI is the average number of electric service interruptions per consumer in a twelve-month period. CAIDI is the average duration in minutes per electric service interruption in a twelve-month period. In each case, our non-storm reliability performance reflects electric service interruptions of one minute or more per customer. Each of these results excludes outages during significant storm events.
(b)
Degree days are measures of how warm or cold it is throughout our service territory. A degree day compares the average of the hourly outdoor temperatures during each day to a 65° Fahrenheit standard temperature. The more extreme the outside temperature, the higher the number of degree days. A high number of degree days generally results in higher levels of energy use for space cooling or heating.
Oncor Electric Delivery Company LLC
Table E – Operating Revenues
Three Months Ended June 30,
$
Six Months Ended June 30,
$
2026
2025
Change
2026
2025
Change
(U.S. dollars in millions)
Operating revenues
Revenues contributing to earnings:
Revenues from contracts with customers
Distribution base revenues
Residential (a)(b)
$
507
$
387
$
120
$
860
$
762
$
98
LC&I (a)(c)
451
335
116
795
667
128
Other (a)(d)
45
32
13
76
62
14
Total distribution base revenues (e)
1,003
754
249
1,731
1,491
240
Transmission base revenues (TCOS revenues)
Third-party wholesale customers (a)
310
280
30
590
533
57
REPs serving Oncor distribution customers, through TCRF
157
155
2
311
295
16
Total TCOS revenues
467
435
32
901
828
73
Other miscellaneous revenues
28
25
3
50
48
2
Total revenues from contracts with customers
1,498
1,214
284
2,682
2,367
315
Other regulated revenues
SRP revenues (f)
56
43
13
107
70
37
UTM revenues (g)
102
19
83
200
19
181
Total other regulated revenues
158
62
96
307
89
218
Total revenues contributing to earnings
1,656
1,276
380
2,989
2,456
533
Revenues collected for pass-through expenses:
TCRF – third-party wholesale transmission service
390
367
23
771
720
51
EECRF and other revenues
16
11
5
26
26
-
Total revenues collected for pass-through expenses
406
378
28
797
746
51
Total operating revenues
$
2,062
$
1,654
$
408
$
3,786
$
3,202
$
584
____________
(a)
Includes unbilled revenues recognized in the second quarter of 2026 as a result of the surcharge relating to our comprehensive base rate review.
(b)
Distribution base revenues from residential customers are generally based on actual monthly consumption (kWh). On a weather-normalized basis, distribution base revenues from residential customers increased 35.4% in the three months ended June 30, 2026 as compared to the three months ended June 30, 2025 and increased 20.6% in the six months ended June 30, 2026 compared to the six months ended June 30, 2025.
(c)
Depending on size and annual load factor, distribution base revenues from LC&I customers are generally based either on actual monthly demand (kilowatts) or the greater of actual monthly demand (kilowatts) or 80% of peak monthly demand during the prior 11 months.
(d)
Includes distribution base revenues from small business customers whose billing is generally based on actual monthly consumption (kWh), lighting sites and other miscellaneous distribution base revenues.
(e)
The 33.0% increase in distribution base revenues in the three months ended June 30, 2026 as compared to the three months ended June 30, 2025 (32.4% increase on a weather-normalized basis) was primarily due to the distribution component of revenues recognized in connection with the surcharge filed pursuant to our comprehensive base rate review, the distribution component in new base rates implemented June 1, 2026, updated interim DCRF rates implemented to reflect increases in invested capital, customer growth, and higher consumption, primarily attributable to warmer weather. The 16.1% increase in distribution base revenues in the six months ended June 30, 2026 as compared to the six months ended June 30, 2025 (18.7% increase on a weather-normalized basis) was primarily due to the distribution component of revenues recognized in connection with the surcharge filed pursuant to our comprehensive base rate review, the distribution component in new base rates implemented June 1, 2026, updated interim DCRF rates implemented to reflect increases in invested capital, and customer growth, partially offset by lower customer consumption, primarily attributable to milder weather in the first quarter of 2026.
(f)
Includes revenues recognized for recoverable costs associated with distribution-related SRP, including operation and maintenance expense, depreciation expense, debt carrying costs on unrecovered balances and related taxes.
(g)
Includes revenues recognized for recoverable costs associated with UTM eligible transmission and distribution capital investments, including depreciation expense, debt carrying costs on unrecovered balances and related taxes.
Forward-Looking Statements
This news release contains forward-looking statements relating to Oncor within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. All statements, other than statements of historical facts, that are included in this news release, as well as statements made in presentations, in response to questions or otherwise, that address activities, events or developments that Oncor expects or anticipates to occur in the future, including such matters as projections, capital allocation, future capital expenditures, business strategy, competitive strengths, goals, future acquisitions or dispositions, development or operation of facilities, market and industry developments and the growth of Oncor's business and operations (often, but not always, through the use of words or phrases such as "intends," "plans," "will likely result," "expects," "are expected to," "will continue," "is anticipated," "estimated," "forecast," "should," "projection," "target," "goal," "objective" and "outlook"), are forward-looking statements. Although Oncor believes that in making any such forward-looking statement its expectations are based on reasonable assumptions, any such forward-looking statement involves risks, uncertainties and assumptions. Factors that could cause Oncor's actual results to differ materially from those projected in such forward-looking statements include: legislation, governmental policies and orders, and regulatory actions; legal and administrative proceedings and settlements, including the exercise of equitable powers by courts; ERCOT protocols, rules, policies, regulations, guidelines, directives, processes, endorsements, approvals, restrictions, and orders applicable to Oncor's business, including relating to transmission or distribution projects and any changes to expected projects; weather conditions and other natural phenomena, including severe weather events, natural disasters or wildfires; cyber-attacks on Oncor or Oncor's third-party vendors; changes in expected ERCOT and service territory growth; changes in, or cancellations of, anticipated projects, including customer requested interconnection projects; physical attacks on Oncor's system, acts of sabotage, wars, terrorist activities, wildfires, fires, explosions, natural disasters, hazards customary to the industry, or other emergency events; Oncor's ability to obtain adequate insurance on reasonable terms and the possibility that it may not have adequate insurance to cover all losses incurred by Oncor or third-party liabilities; adverse actions by credit rating agencies; health epidemics and pandemics, including their impact on Oncor's business and the economy in general; interrupted or degraded service on key technology platforms, facilities failures, or equipment interruptions; economic conditions, including the impact of a recessionary environment, inflation, foreign policy, industrial strain, and global trade restrictions; supply chain disruptions, including as a result of tariffs, war, volatile commodity prices, manufacturing and shipping shortages, global trade disruptions, competition for goods and services, and service provider availability; unanticipated changes in electricity demand in ERCOT or Oncor's service territory; ERCOT grid needs and ERCOT market conditions, including insufficient electricity generation within the ERCOT market or disruptions at power generation facilities that supply power within the ERCOT market; changes in business strategy, development plans or vendor relationships; changes in interest rates, foreign currency exchange rates, or rates of inflation; significant changes in operating expenses, liquidity needs and/or capital expenditures; inability of various counterparties to meet their financial and other obligations to Oncor, including failure of counterparties to timely perform under agreements; general industry and ERCOT trends; significant decreases in demand or consumption of electricity delivered by Oncor, including as a result of increased consumer use of third-party distributed energy resources or other technologies; changes in technology used by and services offered by Oncor; changes in employee and contractor labor availability and cost; significant changes in Oncor's relationship with its employees, and the potential adverse effects if labor disputes or grievances were to occur; changes in assumptions used to estimate costs of providing employee benefits, including pension and other postretirement employee benefits, and future funding requirements related thereto; significant changes in accounting policies or critical accounting estimates material to Oncor; commercial bank and financial market conditions, macroeconomic conditions, access to capital, the cost of such capital, and the results of financing and refinancing efforts, including availability of funds and the potential impact of any disruptions in U.S. or foreign capital and credit markets; financial market volatility and the impact of volatile financial markets on investments, including investments held by Oncor's pension and other postretirement employee benefit plans; circumstances which may contribute to future impairment of goodwill, intangible or other long-lived assets; Oncor's adoption and deployment of artificial intelligence; financial and other restrictions under Oncor's debt agreements; Oncor's ability to generate sufficient cash flow to make interest payments on its debt instruments; and Oncor's ability to effectively execute its operational and financing strategy.
Further discussion of risks and uncertainties that could cause actual results to differ materially from management's current projections, forecasts, estimates and expectations is contained in filings made by Oncor with the U.S. Securities and Exchange Commission. Specifically, Oncor makes reference to the section entitled "Risk Factors" in its annual and quarterly reports. Any forward-looking statement speaks only as of the date on which it is made, and, except as may be required by law, Oncor undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for Oncor to predict all of them; nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. As such, you should not unduly rely on such forward-looking statements.
The information contained on, or that can be accessed through, any website referenced in this news release, is not, and shall not be deemed to be, part of this document.
Key Takeaways Sempra's earnings are expected to rise 13.5%, while revenues are projected to improve 7.2%.Rate-base growth, Oncor benefits and infrastructure investments are likely to support earnings.ECA LNG production and expected cargo revenue recognition may provide an incremental boost. Sempra (SRE - Free Report) is slated to report second-quarter 2026 results on Aug. 6, 2026, before market open. The company's earnings were in line with the Zacks Consensus Estimate in the last reported quarter.
Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play Ahead of SRE’s Q2 ResultsSempra’s second-quarter earnings are likely to have benefited from continued rate base growth across its regulated utility operations. The recognition of financial benefits from Oncor’s recently approved base rate review, which was expected to be reflected primarily in the second quarter, is also likely to have supported regulated earnings.
The company’s continued investments in grid modernization, transmission expansion and system reliability projects are also expected to have supported quarterly performance. Sustained customer growth across its service territories, particularly in Texas, is likely to have boosted electricity and natural gas demand, contributing to higher revenues.
Additionally, progress at the ECA LNG Phase 1 project is likely to have provided an incremental boost to Sempra’s second-quarter performance. During the quarter, the project achieved first LNG production as part of the commissioning process, marking a key milestone toward commercial operations. As LNG production commenced and the company began recognizing revenues from LNG cargoes, the project is expected to contribute positively to quarterly results while strengthening Sempra’s long-term LNG growth prospects.
Estimates for SREThe Zacks Consensus Estimate for earnings is pegged at $1.01 per share, indicating a year-over-year increase of 13.5%.
The consensus estimate for revenues is pinned at $3.22 billion, indicating a year-over-year improvement of 7.2%.
What the Zacks Model Unveils for SREOur proven model predicts an earnings beat for SRE this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as you will see below.
Earnings ESP: SRE has an Earnings ESP of +0.79%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: SRE currently carries a Zacks Rank of 3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Stocks to ConsiderBelow, we have mentioned a few other players from the same sector that have the right combination of elements to beat on earnings in the upcoming releases:
Cheniere Energy (LNG - Free Report) is expected to report its second-quarter 2026 earnings on Aug. 6, 2026, before market open. It has an Earnings ESP of +3.69% and a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for LNG’s earnings is pegged at $2.80 per share. The consensus estimate for its sales is pegged at $5.03 billion, indicating year-over-year growth of 8.4%.
Calumet, Inc. (CLMT - Free Report) is expected to report its second-quarter 2026 earnings on Aug. 7, 2026, before market open. It has an Earnings ESP of +169.57% and a Zacks Rank of 2 at present.
The Zacks Consensus Estimate for CLMT’s loss is pegged at 23 cents per share. The consensus estimate for its sales is pegged at $1.07 billion, indicating year-over-year growth of 4.1%.
National Energy Services Reunited (NESR - Free Report) is set to report its second-quarter 2026 earnings on Aug. 10, 2026, before market open. It has an Earnings ESP of +7.80% and a Zacks Rank of 1 at present.
The Zacks Consensus Estimate for NESR’s earnings is pegged at 35 cents per share. The consensus estimate for its sales is pegged at $458.4 million, indicating year-over-year growth of 40%.
Fee-Related Earnings (FRE): Record $785 million, or $1.26 per share, up 25% year-over-year and 8% quarter-over-quarter.Spread-Related Earnings (SRE): Record $87
Bank of America Corp DE increased its stake in shares of Sempra Energy (NYSE:SRE – Free Report) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,385,174 shares of the utilities provider’s stock after buying an additional 1,441,981 shares during the quarter. Bank of America Corp DE owned about 1.59% of Sempra Energy worth $1,009,127,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Sempra Energy during the fourth quarter worth $914,924,000. Morgan Stanley increased its stake in Sempra Energy by 17.0% in the 4th quarter. Morgan Stanley now owns 22,330,091 shares of the utilities provider’s stock valued at $1,971,524,000 after buying an additional 3,250,783 shares during the period. Invesco Ltd. increased its stake in Sempra Energy by 40.1% in the 3rd quarter. Invesco Ltd. now owns 10,419,115 shares of the utilities provider’s stock valued at $937,512,000 after buying an additional 2,984,409 shares during the period. National Pension Service raised its position in Sempra Energy by 246.4% during the 4th quarter. National Pension Service now owns 2,826,999 shares of the utilities provider’s stock worth $249,596,000 after buying an additional 2,010,853 shares during the last quarter. Finally, State Street Corp raised its position in Sempra Energy by 5.2% during the 4th quarter. State Street Corp now owns 36,810,449 shares of the utilities provider’s stock worth $3,273,460,000 after buying an additional 1,824,280 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades Several analysts have recently weighed in on SRE shares. Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Jefferies Financial Group set a $101.00 price target on shares of Sempra Energy in a report on Thursday, July 16th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $118.00 price objective on shares of Sempra Energy in a report on Tuesday, April 21st. Morgan Stanley reiterated an “overweight” rating and set a $108.00 target price on shares of Sempra Energy in a research report on Wednesday, July 22nd. Finally, Truist Financial set a $104.00 target price on Sempra Energy and gave the stock a “buy” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Sempra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $104.23.
Get Our Latest Stock Analysis on SRE
Insider Activity at Sempra Energy In other Sempra Energy news, Director Pablo Ferrero sold 2,600 shares of Sempra Energy stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $89.53, for a total value of $232,778.00. Following the completion of the sale, the director directly owned 15,423 shares of the company’s stock, valued at approximately $1,380,821.19. The trade was a 14.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Diana L. Day sold 3,300 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $92.13, for a total value of $304,029.00. Following the completion of the transaction, the insider owned 22,870 shares of the company’s stock, valued at $2,107,013.10. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 13,900 shares of company stock valued at $1,261,207. Company insiders own 0.31% of the company’s stock.
Sempra Energy Trading Down 1.0% Shares of SRE opened at $88.71 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.69 and a quick ratio of 1.66. Sempra Energy has a 1-year low of $78.97 and a 1-year high of $101.04. The stock has a market cap of $57.99 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. The firm has a 50 day simple moving average of $91.77 and a 200-day simple moving average of $92.49.
Sempra Energy (NYSE:SRE – Get Free Report) last posted its earnings results on Thursday, May 7th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.51. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $4.10 billion. Sempra Energy had a return on equity of 8.20% and a net margin of 14.31%.Sempra Energy’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. Equities analysts forecast that Sempra Energy will post 5.12 EPS for the current fiscal year.
Sempra Energy Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Thursday, June 25th were given a $0.6575 dividend. This represents a $2.63 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 25th. Sempra Energy’s payout ratio is currently 89.15%.
About Sempra Energy (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
Further Reading Five stocks we like better than Sempra Energy Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case Apple’s Record Quarter Could Not Outrun Its Guidance Problem McKesson’s Compounding Keeps Adding Up Want to see what other hedge funds are holding SRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sempra Energy (NYSE:SRE – Free Report).
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Wall Street expects a year-over-year increase in earnings on higher revenues when Sempra (SRE - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 6. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis natural gas and electricity provider is expected to post quarterly earnings of $1.01 per share in its upcoming report, which represents a year-over-year change of +13.5%.
Revenues are expected to be $3.22 billion, up 7.2% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.22% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Sempra?For Sempra, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.79%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Sempra will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Sempra would post earnings of $1.51 per share when it actually produced earnings of $1.51, delivering no surprise.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Sempra appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsFluence Energy, Inc. (FLNC - Free Report) , another stock in the Zacks Alternative Energy - Other industry, is expected to report loss per share of $0.05 for the quarter ended June 2026. This estimate points to a year-over-year change of -600%. Revenues for the quarter are expected to be $761.85 million, up 26.4% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for Fluence Energy has been revised 40.6% up to the current level. Nevertheless, the company now has an Earnings ESP of -68.75%, reflecting a lower Most Accurate Estimate.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Fluence Energy will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.
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First Trust Advisors LP trimmed its holdings in shares of Sempra Energy (NYSE:SRE – Free Report) by 55.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,698 shares of the utilities provider’s stock after selling 371,560 shares during the period. First Trust Advisors LP’s holdings in Sempra Energy were worth $28,830,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of SRE. Magellan Asset Management Ltd grew its holdings in shares of Sempra Energy by 4.2% during the first quarter. Magellan Asset Management Ltd now owns 2,258,369 shares of the utilities provider’s stock worth $219,446,000 after purchasing an additional 91,519 shares during the last quarter. Westpac Banking Corp lifted its position in Sempra Energy by 7.5% during the 1st quarter. Westpac Banking Corp now owns 21,278 shares of the utilities provider’s stock worth $2,068,000 after buying an additional 1,486 shares in the last quarter. ABN Amro Investment Solutions lifted its position in Sempra Energy by 18.2% during the 1st quarter. ABN Amro Investment Solutions now owns 50,767 shares of the utilities provider’s stock worth $4,933,000 after buying an additional 7,826 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Sempra Energy by 2.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 122,569 shares of the utilities provider’s stock worth $11,910,000 after acquiring an additional 2,793 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS bought a new stake in Sempra Energy during the 1st quarter worth about $265,000. Institutional investors own 89.65% of the company’s stock.
Sempra Energy Stock Performance Sempra Energy stock opened at $90.71 on Wednesday. The company has a market cap of $59.30 billion, a PE ratio of 30.75, a PEG ratio of 2.19 and a beta of 0.56. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. Sempra Energy has a 1 year low of $78.97 and a 1 year high of $101.04. The company’s 50-day moving average is $91.94 and its two-hundred day moving average is $92.50.
Sempra Energy (NYSE:SRE – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $1.51 EPS for the quarter, hitting the consensus estimate of $1.51. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Sempra Energy had a net margin of 14.31% and a return on equity of 8.20%. Sempra Energy’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 EPS. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. Equities analysts anticipate that Sempra Energy will post 5.12 earnings per share for the current year.
Sempra Energy Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th were issued a dividend of $0.6575 per share. This represents a $2.63 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 25th. Sempra Energy’s payout ratio is currently 89.15%.
Analyst Upgrades and Downgrades A number of equities analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $108.00 target price on shares of Sempra Energy in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a research note on Friday, July 17th. Jefferies Financial Group set a $101.00 price target on shares of Sempra Energy in a report on Thursday, July 16th. TD Cowen initiated coverage on shares of Sempra Energy in a research report on Wednesday, July 8th. They issued a “buy” rating for the company. Finally, BMO Capital Markets set a $102.00 price objective on Sempra Energy and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.23.
Get Our Latest Analysis on Sempra Energy
Insider Buying and Selling at Sempra Energy In other Sempra Energy news, insider Diana L. Day sold 3,300 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $92.13, for a total transaction of $304,029.00. Following the completion of the sale, the insider owned 22,870 shares in the company, valued at approximately $2,107,013.10. The trade was a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Caroline Ann Winn sold 8,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total value of $724,400.00. Following the completion of the transaction, the executive vice president owned 25,164 shares in the company, valued at $2,278,600.20. This represents a 24.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,900 shares of company stock worth $1,261,207. Insiders own 0.31% of the company’s stock.
Sempra Energy Company Profile (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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Arrowstreet Capital Limited Partnership bought a new stake in shares of Sempra Energy (NYSE:SRE – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 587,046 shares of the utilities provider’s stock, valued at approximately $57,043,000. Arrowstreet Capital Limited Partnership owned about 0.09% of Sempra Energy as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of SRE. Empowered Funds LLC lifted its position in Sempra Energy by 52.5% during the first quarter. Empowered Funds LLC now owns 18,008 shares of the utilities provider’s stock worth $1,285,000 after buying an additional 6,196 shares during the period. Woodline Partners LP increased its stake in shares of Sempra Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 53,512 shares of the utilities provider’s stock valued at $3,819,000 after acquiring an additional 15,474 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Sempra Energy by 6.2% during the 2nd quarter. Baird Financial Group Inc. now owns 14,699 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 858 shares during the period. Cary Street Partners Financial LLC boosted its position in shares of Sempra Energy by 78.5% in the second quarter. Cary Street Partners Financial LLC now owns 771 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 339 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Sempra Energy by 80.0% in the second quarter. Sei Investments Co. now owns 423,280 shares of the utilities provider’s stock valued at $32,072,000 after purchasing an additional 188,131 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Wall Street Analysts Forecast Growth Several brokerages recently weighed in on SRE. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $118.00 target price on shares of Sempra Energy in a research report on Tuesday, April 21st. Morgan Stanley restated an “overweight” rating and set a $108.00 price target on shares of Sempra Energy in a research note on Wednesday, July 22nd. Barclays cut their price objective on Sempra Energy from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Wall Street Zen upgraded Sempra Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, BMO Capital Markets set a $102.00 price target on shares of Sempra Energy and gave the company an “outperform” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.23.
View Our Latest Research Report on Sempra Energy
Sempra Energy Price Performance SRE stock opened at $91.20 on Tuesday. The stock’s 50 day moving average is $91.95 and its two-hundred day moving average is $92.47. Sempra Energy has a 52-week low of $78.97 and a 52-week high of $101.04. The company has a market capitalization of $59.62 billion, a PE ratio of 30.92, a P/E/G ratio of 2.23 and a beta of 0.56. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.78.
Sempra Energy (NYSE:SRE – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $1.51 EPS for the quarter, hitting analysts’ consensus estimates of $1.51. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $4.10 billion. Sempra Energy had a return on equity of 8.20% and a net margin of 14.31%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.44 earnings per share. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. Analysts predict that Sempra Energy will post 5.12 earnings per share for the current fiscal year.
Sempra Energy Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 25th were given a $0.6575 dividend. The ex-dividend date was Thursday, June 25th. This represents a $2.63 annualized dividend and a yield of 2.9%. Sempra Energy’s dividend payout ratio (DPR) is currently 89.15%.
Insider Buying and Selling at Sempra Energy In other news, insider Diana L. Day sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $92.13, for a total transaction of $304,029.00. Following the completion of the transaction, the insider directly owned 22,870 shares in the company, valued at approximately $2,107,013.10. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pablo Ferrero sold 2,600 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $89.53, for a total transaction of $232,778.00. Following the completion of the sale, the director directly owned 15,423 shares of the company’s stock, valued at $1,380,821.19. The trade was a 14.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,900 shares of company stock valued at $1,261,207 in the last ninety days. Company insiders own 0.31% of the company’s stock.
Sempra Energy Profile (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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Cetera Investment Advisers decreased its holdings in shares of Sempra Energy (NYSE:SRE – Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 223,731 shares of the utilities provider’s stock after selling 5,903 shares during the quarter. Cetera Investment Advisers’ holdings in Sempra Energy were worth $21,740,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of SRE. Norges Bank bought a new stake in Sempra Energy during the fourth quarter worth approximately $914,924,000. Morgan Stanley increased its position in shares of Sempra Energy by 17.0% during the 4th quarter. Morgan Stanley now owns 22,330,091 shares of the utilities provider’s stock valued at $1,971,524,000 after purchasing an additional 3,250,783 shares during the last quarter. Invesco Ltd. raised its holdings in Sempra Energy by 40.1% during the 3rd quarter. Invesco Ltd. now owns 10,419,115 shares of the utilities provider’s stock valued at $937,512,000 after buying an additional 2,984,409 shares during the period. National Pension Service raised its holdings in Sempra Energy by 246.4% during the 4th quarter. National Pension Service now owns 2,826,999 shares of the utilities provider’s stock valued at $249,596,000 after buying an additional 2,010,853 shares during the period. Finally, State Street Corp lifted its position in Sempra Energy by 5.2% in the fourth quarter. State Street Corp now owns 36,810,449 shares of the utilities provider’s stock worth $3,273,460,000 after buying an additional 1,824,280 shares during the last quarter. Institutional investors own 89.65% of the company’s stock.
Sempra Energy Price Performance NYSE SRE opened at $91.20 on Tuesday. Sempra Energy has a 12-month low of $78.97 and a 12-month high of $101.04. The firm’s fifty day simple moving average is $91.95 and its two-hundred day simple moving average is $92.47. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $59.62 billion, a P/E ratio of 30.92, a P/E/G ratio of 2.23 and a beta of 0.56.
Sempra Energy (NYSE:SRE – Get Free Report) last announced its earnings results on Thursday, May 7th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.51. Sempra Energy had a return on equity of 8.20% and a net margin of 14.31%.The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the prior year, the company posted $1.44 EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. Analysts forecast that Sempra Energy will post 5.12 EPS for the current fiscal year.
Sempra Energy Announces Dividend The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 25th were given a $0.6575 dividend. This represents a $2.63 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 25th. Sempra Energy’s dividend payout ratio is presently 89.15%.
Insider Activity at Sempra Energy In other Sempra Energy news, Director Pablo Ferrero sold 2,600 shares of Sempra Energy stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $89.53, for a total transaction of $232,778.00. Following the completion of the sale, the director owned 15,423 shares of the company’s stock, valued at approximately $1,380,821.19. The trade was a 14.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Diana L. Day sold 3,300 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $92.13, for a total value of $304,029.00. Following the sale, the insider owned 22,870 shares in the company, valued at approximately $2,107,013.10. The trade was a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,900 shares of company stock valued at $1,261,207 in the last ninety days. Company insiders own 0.31% of the company’s stock.
Analyst Upgrades and Downgrades Several research analysts have commented on the stock. TD Cowen started coverage on shares of Sempra Energy in a research note on Wednesday, July 8th. They set a “buy” rating for the company. Wall Street Zen raised shares of Sempra Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays dropped their price target on shares of Sempra Energy from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $108.00 price target on shares of Sempra Energy in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Sempra Energy in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Sempra Energy has an average rating of “Moderate Buy” and a consensus target price of $104.23.
Check Out Our Latest Report on Sempra Energy
Sempra Energy Company Profile (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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, /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), continues to advance a series of key priorities in support of its corporate strategy.
One of Sempra Infrastructure's key priorities is the completion of the ECA LNG Phase 1 project, a one-train natural gas liquefaction facility in Ensenada, Mexico. The project achieved mechanical completion in December 2025 and introduced feed gas into the facility in April 2026. Moreover, the project achieved first liquefied natural gas (LNG) production as part of the commissioning process in June 2026 and loaded and shipped its first cargo earlier this month.
Today, the project announced that it is extending its commissioning process. Following the export of its first cargo, the plant was shut down for planned inspections, during which time damage was discovered in the project's refrigerant compressors. Subject to completion of a root cause investigation and the execution of the remediation workstreams being consistent with management expectations, the project is expected to reach substantial completion in the fourth quarter of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter. Notwithstanding the extension of the commissioning process, Sempra Infrastructure has had strong year-to-date performance and does not anticipate a reduction in its planned earnings contributions relative to Sempra's segment guidance ranges for 2026 and 2027.
In addition to the commissioning process at ECA LNG Phase 1, the company is also advancing construction on Port Arthur LNG Phases 1 and 2, a world-class LNG export facility in Port Arthur, Texas. In total, the completion of both phases of construction is expected to add 26 million tonnes per annum (Mtpa) of new nameplate export capacity to the company's growing portfolio of LNG facilities. Construction at both facilities continues to remain on time and on budget. Additionally, the Port Arthur Pipeline Louisiana Connector has been placed in-service, and the associated LA Storage project remains on time and on budget. Both projects will support natural gas supply to the Port Arthur LNG facility.
The company also continues to make advancements on the planned sale of Ecogas México, S. de R.L. de C.V. (Ecogas). The transaction was approved without condition by the Comisión Nacional Antimonopolio (CNA) last week. With the CNA's approval, the sale of Ecogas and its utility assets is expected to close in August. The transaction is expected to generate approximately $500 million in proceeds, while supporting Sempra Infrastructure's strategy of recycling capital to continue developing, building and operating large-scale energy infrastructure.
About Sempra Infrastructure
Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading utility growth company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, audits, investigations, inquiries, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions such as the planned sale of a portion of Sempra's equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas transportation capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
, /PRNewswire/ -- Oncor Electric Delivery Company LLC ("Oncor") plans to release its second quarter 2026 results on August 6, prior to Sempra's (NYSE: SRE) second quarter 2026 results conference call. Oncor's earnings release will be available on Oncor's website, oncor.com.
Sempra executives will host a conference call at 12 p.m. ET on Thursday, August 6 that will include discussion of Oncor's second quarter 2026 operational and financial results. Investors, media, analysts and the public may listen to a live webcast of the conference call by registering on the Investors section of Sempra's website and clicking on the appropriate link. Prior to the conference call, an accompanying slide presentation will be posted on sempra.com/investors.
For those unable to obtain access to the live webcast, it will be available on replay a few hours after its conclusion at sempra.com/investors.
Oncor's Quarterly Report on Form 10-Q for the period ended June 30, 2026 will be filed with the U.S. Securities and Exchange Commission after Sempra's conference call and, once filed, will also be available at oncor.com.
Headquartered in Dallas, Oncor Electric Delivery Company LLC is a regulated electricity transmission and distribution business that uses superior asset management skills to provide reliable electricity delivery to consumers. Oncor (together with its subsidiaries) operates the largest transmission and distribution system in Texas, delivering electricity to more than 4.1 million homes and businesses and operating more than 145,000 circuit miles of transmission and distribution lines in Texas. While Oncor is owned by two investors (indirect majority owner, Sempra, and minority owner, Texas Transmission Investment LLC), Oncor is managed by its Board of Directors, which is comprised of a majority of disinterested directors.
Allspring Global Investments Holdings LLC cut its stake in Sempra Energy (NYSE:SRE – Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 212,027 shares of the utilities provider’s stock after selling 14,131 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sempra Energy were worth $20,654,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in SRE. Vanguard Group Inc. grew its stake in Sempra Energy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 76,734,070 shares of the utilities provider’s stock valued at $6,774,907,000 after acquiring an additional 1,008,476 shares in the last quarter. State Street Corp lifted its stake in Sempra Energy by 5.2% in the 4th quarter. State Street Corp now owns 36,810,449 shares of the utilities provider’s stock worth $3,273,460,000 after purchasing an additional 1,824,280 shares in the last quarter. Morgan Stanley boosted its holdings in Sempra Energy by 17.0% in the 4th quarter. Morgan Stanley now owns 22,330,091 shares of the utilities provider’s stock valued at $1,971,524,000 after purchasing an additional 3,250,783 shares during the period. Geode Capital Management LLC grew its position in shares of Sempra Energy by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 14,298,845 shares of the utilities provider’s stock valued at $1,256,592,000 after purchasing an additional 116,554 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Sempra Energy by 16.6% during the 4th quarter. JPMorgan Chase & Co. now owns 12,163,523 shares of the utilities provider’s stock valued at $1,073,918,000 after purchasing an additional 1,735,516 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.
Analyst Upgrades and Downgrades SRE has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on Sempra Energy from $105.00 to $103.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Wall Street Zen lowered Sempra Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. TD Cowen initiated coverage on shares of Sempra Energy in a research report on Wednesday, July 8th. They issued a “buy” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $105.00 target price on shares of Sempra Energy in a research report on Wednesday, June 24th. Finally, Barclays cut their price target on shares of Sempra Energy from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.08.
Get Our Latest Analysis on SRE
Sempra Energy Trading Down 1.6% SRE stock opened at $90.75 on Tuesday. The company has a market capitalization of $59.33 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.56. Sempra Energy has a one year low of $77.87 and a one year high of $101.04. The company’s 50 day moving average price is $91.90 and its two-hundred day moving average price is $92.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.66 and a current ratio of 1.69.
Sempra Energy (NYSE:SRE – Get Free Report) last released its earnings results on Thursday, May 7th. The utilities provider reported $1.51 EPS for the quarter, meeting the consensus estimate of $1.51. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $4.10 billion. Sempra Energy had a net margin of 14.31% and a return on equity of 8.20%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 EPS. Sempra Energy has set its FY 2027 guidance at 5.100-5.700 EPS and its FY 2026 guidance at 4.870-5.370 EPS. As a group, analysts predict that Sempra Energy will post 5.12 earnings per share for the current fiscal year.
Sempra Energy Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 25th were issued a $0.6575 dividend. This represents a $2.63 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, June 25th. Sempra Energy’s dividend payout ratio (DPR) is 89.15%.
Insider Activity at Sempra Energy In related news, EVP Caroline Ann Winn sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.55, for a total transaction of $724,400.00. Following the completion of the transaction, the executive vice president owned 25,164 shares in the company, valued at $2,278,600.20. This represents a 24.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Diana L. Day sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $92.13, for a total transaction of $304,029.00. Following the completion of the sale, the insider owned 22,870 shares of the company’s stock, valued at $2,107,013.10. This trade represents a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,900 shares of company stock worth $1,261,207 in the last 90 days. Company insiders own 0.31% of the company’s stock.
Sempra Energy Profile (Free Report)
Sempra Energy is a San Diego–based energy infrastructure company that develops, owns and operates businesses delivering electricity and natural gas. Its operations include regulated utility services that provide electric and gas distribution to residential, commercial and industrial customers, as well as non‑regulated infrastructure businesses that develop and manage large-scale energy assets.
The company’s product and service portfolio spans electricity and natural gas delivery, transmission and storage, liquefied natural gas (LNG) facilities, power generation and electric transmission projects.
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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Sempra (NYSE: SRE) plans to release its second-quarter 2026 earnings results by 8 a.m. ET on Thursday, August 6.
Senior leaders from across the company will host a conference call with a slide presentation at 12 p.m. ET on Thursday, August 6. Materials will be published prior to market open the same day.
Investors, analysts and others may register to listen to the live webcast and view related materials by visiting Sempra's Investors site.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com, including investor.sempra.com/corporate-updates which contains important information for investors, and on social media @sempra.
We use the investor.sempra.com/corporate-updates webpage as a means of disclosing important information to investors, some of which may be material, and complying with our disclosure obligations under SEC Regulation FD. The information on this webpage is supplemental to the information we disseminate to investors through other channels, including filings with the SEC, press releases, and public conference calls and webcasts, and investors should monitor all these sources for material information about us.
, /PRNewswire/ -- Sempra (NYSE: SRE) today announced leadership appointments that mark another strategic milestone in advancing the company's mission to build America's leading utility growth business while bolstering leadership continuity and talent development.
The appointments follow the company's September 2025 announcement of its agreement to sell a 45% equity interest in Sempra Infrastructure Partners (Sempra Infrastructure), one of North America's leading energy infrastructure platforms, to affiliates of KKR. The company continues to expect the transaction to close in the third quarter of 2026, and Bob Patel was recently announced as the incoming chief executive officer of Sempra Infrastructure, effective upon close.
Advancing Utility Growth Strategy with New Leadership Appointments
With the closing of the referenced transaction, Karen Sedgwick, currently executive vice president and chief financial officer of Sempra, will become chief executive officer and president of the Southern California Gas Company (SoCalGas), bringing over 30 years of experience at the Sempra family of companies, including an established leadership background in utility practice and procedure, external and regulatory affairs, operations and safety, to lead the nation's largest gas distribution utility. In addition, she will continue to serve on the board of directors of SoCalGas.
Concurrently, Justin Bird, executive vice president of Sempra and chief executive officer of Sempra Infrastructure, will become executive vice president and chief financial officer of Sempra. Combined with his track record of value creation in the capital markets at the helm of Sempra Infrastructure, Bird has a strong, multi-disciplinary foundation for a successful transition into the CFO role. With more than 20 years of experience at Sempra, Bird has held leadership roles in treasury, financial planning, corporate development and legal, including five years of prior experience in commercial and project finance. In addition to his current oversight of Sempra's corporate development program, Bird will also lead the company's investor relations, treasury, financial planning, audit, insurance and tax functions. He will continue to serve on the boards of directors of Sempra Infrastructure and Oncor Electric Delivery Company LLC.
The referenced leadership changes will become effective on or around the closing of the transaction, expected in the third quarter of 2026, subject to necessary regulatory and other approvals and closing conditions.
"This is an exciting time for our company as we continue to advance the growth of our utility businesses. These appointments further our mission alignment and strengthen our ability to deliver long-term value for our stakeholders," said Jeffrey W. Martin, chairman and chief executive officer of Sempra. "Our board has great confidence in both Karen and Justin and the leadership they will bring to their new roles. Karen is a proven leader who has touched all aspects of our California utilities over the last three decades and I am excited to see her take on the role of leading America's largest natural gas distribution utility. I am also excited to partner with Justin as he broadens the scope of his financial and strategic responsibilities and extends his positive impact across the enterprise."
Sempra's focus on developing and rotating leaders at all levels of the company has helped cultivate a mission-driven culture centered on the recognition that human capital is the most important corporate resource, as demonstrated by its recent inclusion on The Wall Street Journal's inaugural "Best Companies for the Future" list, where the company ranked among the top companies in America for leadership and talent readiness.
Strengthening Financial Position and Funding Growth
The pending transaction plays a central role in advancing Sempra's strategic priorities by generating substantial cash proceeds and supporting disciplined capital allocation to concentrate the company's investment strategy in regulated U.S. utility operations in Texas and California. Before adjustments, the $10 billion transaction announced in September 2025 implies an equity value of approximately $22.2 billion for Sempra Infrastructure.1
Upon closing, affiliates of KKR will hold a 65% equity stake in Sempra Infrastructure, while Sempra will retain a 25% interest alongside an affiliate of Abu Dhabi Investment Authority's existing 10% stake. The impact of the transaction, together with other elements of the company's simplified business strategy, are expected to result in approximately 95% of Sempra's earnings coming from regulated U.S. utilities in 2027, while also supporting the company's goal of having more than 60% of its rate base located in Texas through the end of the decade.2 These impacts also are expected to eliminate the need for common equity issuances in the company's 2026-2030 base capital plan3 and support execution of the company's 2026 value creation initiatives, including efficiently sourcing capital for growth and deconsolidating Sempra Infrastructure's debt from Sempra's consolidated financials.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com and on social media @sempra.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: California wildfires, including potential liability for damages regardless of fault and any inability to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054 and the wildfire fund continuation account established by California Senate Bill 254, rates from customers or a combination thereof; decisions, disallowances or denials of cost recovery, audits, investigations, inquiries, ordered studies, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, renewals of franchises, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, California Public Utilities Commission (CPUC), U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service, Public Utility Commission of Texas and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures, and other significant transactions such as the planned sale of a portion of our equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on rate base or other growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact of efforts to increase affordability of U.S. utility customer rates on our ability to obtain cost recovery from applicable regulators, our capital expenditure and other growth plans and our ability to advance statewide policies; the impact on affordability of customer rates, cost of capital and operating margin due to (i) volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates and (ii) with respect to San Diego Gas & Electric Company's (SDG&E) and Southern California Gas Company's (SoCalGas) businesses, the cost of meeting the demand for lower carbon and reliable energy in California; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, increased uncertainty in the political or regulatory environment for California natural gas distribution companies, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through regulatory mechanisms or insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power, natural gas and natural gas storage and transportation capacity, including disruptions caused by failures in the transmission grid or pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; Oncor Electric Delivery Company LLC's (Oncor) ability to reduce or eliminate its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor's independent directors or a minority member director; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
1 Implied valuation is based on proceeds before KKR fee reimbursement of $338M, development credits of $340M and other closing and post-closing adjustments.
2 Reflects Sempra's proportionate share of its utilities' combined projected 2030 rate base, based on Sempra's ownership interest in each utility.
3 Capital plan assumes $0.6B of shares issued via direct stock purchase plan (DRIP) and 401(k) plans, which is a projection based on historical issuances under these plans. Capital plan also assumes share issuances under existing forward contracts in Sempra's at-the-market offering program that are expected to settle within the plan period.
, /PRNewswire/ -- Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE), today announced that the ECA LNG Phase 1 project in Ensenada, Mexico, has safely and successfully loaded and shipped its first cargo of liquefied natural gas (LNG), an important milestone toward full commercial operations.
ECA First Cargo
"At a time of increased uncertainty in the global LNG trade, we are excited to begin shipping a new and reliable source of natural gas from North America's Pacific Coast to customers around the globe," said Justin Bird, chief executive officer of Sempra Infrastructure. "This achievement underscores the exceptional talent of the entire ECA LNG Phase 1 team and our company's steadfast commitment to safe and strong project execution."
"The start-up of ECA LNG, whose strategic location provides privileged access to Asian markets, strengthens the quality of our integrated LNG portfolio in North America. TotalEnergies is pleased to contribute to the project's ramp-up by exporting its first LNG cargoes," said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
Once the facility begins commercial operations, ECA LNG Phase 1 will be the first LNG liquefaction facility on Mexico's Pacific Coast. Due to its strategic location, it creates a competitive advantage for shippers from the facility, who have the unique ability to export U.S. natural gas to Asia and other Pacific Basin markets through the shortest shipping route, thus reducing transportation times, costs and uncertainty while providing customers with greater access to competitively priced U.S. natural gas.
ECA LNG Phase 1 is a joint venture with TotalEnergies and consists of a single liquefaction train with nameplate capacity of 3.25 million tonnes per annum (Mtpa) of LNG. The project is supported by long-term sale and purchase agreements with TotalEnergies and Mitsui & Co.
The project is expected to reach substantial completion in the summer of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter, when the facility begins commercial operations. A second and significantly larger phase is also under active development at the same site.
The ECA LNG facility is a cornerstone of Sempra Infrastructure's dual-coast LNG portfolio. With projects along the U.S. Gulf Coast and Mexico's Pacific Coast, Sempra Infrastructure offers customers the flexibility and reliability needed to meet growing demand for competitively priced U.S. natural gas.
About Sempra Infrastructure
Sempra Infrastructure, headquartered in Houston, is focused on delivering energy for a better world by developing, building, operating and investing in modern energy infrastructure, such as LNG, energy networks and low-carbon solutions that are expected to play a crucial role in the energy systems of the future. Through the combined strength of its assets in North America, Sempra Infrastructure is connecting customers to safe and reliable energy and advancing energy security. Sempra Infrastructure is a subsidiary of Sempra (NYSE: SRE), a leading utility growth company. For more information, visit SempraInfrastructure.com or connect with Sempra Infrastructure on social media @SempraInfra.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: decisions, audits, investigations, inquiries, regulations, legislative actions, denials or revocations of permits, consents, approvals or other authorizations, and other actions, including the failure to honor contracts and commitments, by the (i) Comisión Nacional de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, U.S. Internal Revenue Service and other regulatory bodies and (ii) U.S., Mexico and states, counties, cities and other jurisdictions therein and in other countries where we do business; the success of business development efforts, construction projects, acquisitions, divestitures and other significant transactions such as the planned sale of a portion of Sempra's equity interest in Sempra Infrastructure Partners, including risks related to, as applicable, (i) being able to reach a positive final investment decision, (ii) negotiating pricing and other terms in definitive contracts, (iii) completing construction projects or other transactions on schedule and budget, (iv) realizing anticipated benefits from any of these efforts if completed, (v) obtaining regulatory and other approvals and (vi) third parties honoring their contracts and commitments, including with respect to closing or post-closing payments; changes to our capital expenditure plans and their potential impact on growth; changes, due to evolving economic, political and other factors and increasing geopolitical instability as a result of wars or other conflicts in various parts of the world, to (i) trade and other foreign policy, including the imposition of tariffs by the U.S. and foreign countries (and uncertainty related to the implementation and enforceability thereof), and (ii) laws and regulations, including those related to tax and the energy industry in the U.S. and Mexico; litigation, arbitration, property disputes and other proceedings; cybersecurity threats, including by nation-state actors, of ransomware or other attacks on our systems, the energy grid or our other infrastructure, or the systems of third parties with which we conduct business; the availability, uses, sufficiency, and cost of capital resources and our ability to borrow money or otherwise raise capital on favorable terms and meet our obligations, which can be affected by, among other things, (i) actions by credit rating agencies to downgrade our credit ratings or place those ratings on negative outlook, (ii) instability in the capital markets, and (iii) fluctuating interest rates and inflation; the impact on our ability to pass through higher costs to customers due to volatility in inflation, interest rates, commodity prices, tariff rates, and foreign currency exchange rates; the impact of climate policies, laws, rules, regulations, trends and required disclosures, including actions to reduce or eliminate reliance on natural gas, the risk of nonrecovery for stranded assets, and uncertainty related to emerging technologies; weather, natural disasters, pandemics, accidents, equipment failures, explosions, terrorism, information system outages or other events, such as work stoppages, that disrupt our operations, damage our facilities or systems, cause the release of harmful materials or fires or subject us to liability for damages, fines and penalties, some of which may not be recoverable through insurance or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of natural gas and natural gas transportation capacity, including disruptions caused by failures in the pipeline and storage systems or limitations on the injection and withdrawal of natural gas from storage facilities; and other uncertainties, some of which are difficult to predict and beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra's website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure Partners and its subsidiaries, and the Sempra Texas utilities (Oncor and Sharyland Utilities) are not the same companies as the Sempra California utilities, SDG&E or SoCalGas, nor are they regulated by the California Public Utilities Commission (CPUC).
Strong customer participation and faster interconnections are helping enable the grid of the future
, /PRNewswire/ -- San Diego Gas & Electric (SDG&E) is helping enable the grid of the future, with more than 350,000 residential customers now generating their own power through rooftop solar – equivalent to more than one in four customers and one of the highest adoption rates in the nation.
In a region defined by abundant sunshine, customers are increasingly choosing to generate their own clean energy, helping shape a more flexible and locally driven energy system. Their participation is helping transform how energy is produced, shared and delivered across the region.
"The energy system is changing because our customers are leading that change," said Scott Crider, president of SDG&E. "Our responsibility is to help the grid evolve with them. That means building a system that can safely integrate customer-generated energy while continuing to deliver the reliability our customers expect. The progress we are making on solar adoption and interconnections is an important part of enabling that future."
Beyond adoption: Operating a more dynamic energy system
The growth of rooftop solar throughout San Diego and South Orange Counties represents more than increased clean-energy generation; it reflects how customers are changing the way energy is produced, shared and delivered across the region.
Unlike a traditional electric system that primarily delivers electricity in one direction, today's grid increasingly supports two-way power flows as customers both consume and contribute energy.
Faster, more efficient solar interconnections
To support continued growth, SDG&E has focused on improving how customers connect to the grid. Through targeted process improvements and coordination across teams, the company has streamlined its interconnection process and consistently exceeded state performance benchmarks, helping reduce wait times and uncertainty for customers pursuing solar projects. On average, customers are now able to complete the interconnection process in about three days. These improvements are helping customers connect their systems more quickly and enabling customer-generated energy to be more easily integrated into the grid.
A more connected energy system
As rooftop-solar adoption grows, customers are not only generating clean energy, they remain connected to and supported by the broader grid. Even with solar, customers continue to rely on the grid to meet energy needs at times when generation is lower, reinforcing the importance of a strong, reliable system – one our customers depend on and that SDG&E has consistently delivered, with 20 consecutive years of being named the most reliable electric utility in the West by PA Consulting. At the same time, more customers are pairing solar with battery storage, allowing them to save excess energy generated during the day and use it later when needed. As adoption grows, these technologies can help support reliability and increase flexibility across the energy system.
The strong adoption of rooftop solar and battery storage across the region reflects a broader shift in how energy is generated and used—one that depends on a modern electric grid to connect customers, balance energy resources and provide reliable service across the region.
Supporting customers
Customers interested in installing rooftop solar can learn more and find information about program options, interconnection requirements and available resources at sdge.com/solar.
About SDG&E
San Diego Gas & Electric (SDG&E) is an innovative energy delivery company that provides clean, safe and reliable energy to better the lives of the people it serves across 27 cities and two counties in the San Diego and southern Orange County region. SDG&E is a recognized leader in its industry and community, as demonstrated by being named Corporate Partner of the Year at the San Diego Business Journal's Nonprofit & Corporate Citizenship Awards and receiving PA Consulting's ReliabilityOne® Award for Outstanding Reliability Performance for 20 consecutive years. SDG&E is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility holding company. For more information, visit SDGEtoday.com or connect with SDG&E on social media @SDGE.
, /PRNewswire/ -- Southern California Gas Company (SoCalGas), a subsidiary of Sempra (NYSE: SRE), in collaboration with U.S.VETS, hosted a special Fourth of July celebration today at the U.S.VETS Inland Empire campus on March Air Reserve Base, commemorating America's 250th anniversary while honoring the service and sacrifice of veterans and their families.
The event brought together approximately 150 veterans and their family members for an afternoon of community, connection, and celebration.
The gathering comes at a time when veteran support remains critical nationwide. On any given night, more than 32,000 veterans experience homelessness in the United States, underscoring the importance of organizations like U.S.VETS. At the Inland Empire campus alone, more than 400 veterans reside on site, making events like today's celebration a meaningful opportunity to foster community, connection, and recognition of service.
"As our nation celebrates its 250th anniversary, it is especially meaningful to honor the veterans who have helped protect the freedoms we celebrate this Independence Day," said Paul Goldstein, vice president of supply chain and support operations at SoCalGas and executive sponsor of the company's veteran employee resource group. "SoCalGas is proud to serve our veterans today and, together with U.S.VETS, create a welcoming space where they feel appreciated, supported, and connected."
Attendees enjoyed a festive lineup of activities, including a live BBQ meal served by SoCalGas employee volunteers, lawn games such as cornhole and life-sized Connect 4, tabletop games, and themed entertainment. The event created a welcoming and celebratory environment for veterans and their families ahead of Independence Day.
SoCalGas employees, including members of the company's veteran employee community, volunteered throughout the day—serving meals, facilitating activities, and engaging directly with residents—further strengthening the company's commitment to those who have served.
"On behalf of myself and our entire team, we are incredibly grateful for SoCalGas and the significant impact the company has made on the lives of the veterans we serve through workforce initiatives and its role as an outstanding community partner," said Nicole Starks-Murray, executive director of U.S.VETS Inland Empire. "Their generous contributions of time, volunteerism and commitment to creating pathways toward sustainable living truly make a difference. Celebrating the 250th anniversary of the United States alongside SoCalGas makes this event especially meaningful."
Today's celebration reflects an ongoing collaboration between SoCalGas and U.S.VETS to support veterans across Southern California. Through this initiative, SoCalGas's charitable grants help to fund critical services—including housing and workforce development programs—while also creating opportunities for employee volunteerism and community engagement.
The U.S.VETS Inland Empire site serves hundreds of veterans annually, providing supportive housing and resources that help veterans transition to stable, independent lives. Events like today's celebration not only recognize their service but also reinforce a sense of belonging and community.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility holding company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
About U.S.VETS
U.S.VETS is the largest nonprofit with boots on the ground combating America's veteran homelessness crisis head-on. Our holistic approach delivers intervention and prevention services—including housing, mental health, career and supportive services—helping more than 20,000 veterans and their families each year. With residential and service sites nationwide, U.S.VETS is on a mission to prevent and end veteran homelessness so no veteran sleeps on the streets they once defended.
, /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a subsidiary of Sempra (NYSE: SRE), today announced that the cost the company pays for natural gas on behalf of residential and small business customers across the SoCalGas and San Diego Gas & Electric (SDG&E) service areas reached a five-year low for the March through May period in 2026, averaging 22.8 cents per therm1.
The billed price of natural gas declined steadily over the spring, dropping from 35.7 cents per therm in March to 16.9 cents in April and 15.9 cents in May1 – a 55% decline from March to May. These market trends, along with how natural gas is purchased and managed over time, contribute to the cost passed through to customers.
"At a time when many households are focused on managing their energy bills, this is a clear example of how natural gas remains a very affordable source of energy," said SoCalGas President (Interim) and Chief Operating Officer Rodger Schwecke.
System flexibility – including storage and access to multiple supply basins – helps manage costs by enabling lower-cost gas purchases and reducing exposure to higher-priced supply during periods of increased demand.
The spring cost decline also aligns with broader market trends. According to the U.S. Energy Information Administration, natural gas spot prices in California reached record lows in the first five months of 2026, driven in part by higher-than-average storage levels in the Pacific region and other market factors.
Natural gas is one of the lowest monthly household energy costs for Californians. It accounts for more than 60% of average household energy use, yet represents less than 30% of the total home energy bill. As outlined in SoCalGas's recently published Affordable Way for California report, the company's inflation‑adjusted residential natural gas rates declined by approximately 25% between 2000 and 2023.
The cost SoCalGas pays for natural gas on behalf of SoCalGas and SDG&E customers is passed through without markup, meaning lower market prices directly benefit customer bills. Other components of the bill, such as transportation, support the infrastructure needed to safely store and deliver natural gas to millions of homes and businesses across Southern California.
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility growth business. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
Message funded by shareholders.
1 Southern California Gas Company, Tariff G‑CP Core Procurement Rates for the Indicated Period ($/MMBtu), June 3, 2026.
Company Ranks in the Top 10% Among S&P 500 Companies for Leadership in Talent Readiness
, /PRNewswire/ -- Sempra (NYSE: SRE) has been named to The Wall Street Journal's inaugural list of "Best Companies for the Future." The new ranking was published June 7, 2026 following an evaluation of S&P 500 companies based on their anticipated ability to be successful in a rapidly evolving business environment by measuring future readiness. Sempra outperformed industry peers across a series of key indicators measuring leadership, organizational adaptability and workforce readiness.
"As the pace of change accelerates across American business, we understand that Sempra's ability to grow and better serve customers is directly proportional to our ability to attract, retain and develop the right talent," said Jeffrey W. Martin, chairman and CEO of Sempra. "That is why we will continue investing in our people, strengthening our capabilities and advancing our strategy to build America's leading utility growth business."
The "Best Companies for the Future" ranking evaluates the nation's largest corporations across six pillars of future-readiness: agility, artificial intelligence readiness, financial fitness, innovation, resilience and talent readiness. Scores were derived by Bendable Labs for the WSJ Leadership Institute from a composite of third-party data sources and external metrics designed to evaluate long-term organizational strength and adaptability.
A Recognized Leader in the Utility Sector for Talent and Agility
Sempra's standout performance came in the talent readiness category, where the company ranked in the top 10% of the S&P 500 and as one of the leading utilities in America for workforce readiness. This high mark reflects Sempra's continued efforts to attract, develop and retain the talent needed to support its future business needs.
In addition, Sempra ranked among the top utilities in the country for agility, scoring in the top 38% for innovation and commitment to new technologies, which reflects a company-wide effort to modernize and extend one of America's largest energy networks.
Moreover, this recognition adds to a series of honors received earlier this year that highlight Sempra's strong operational performance and high-performance culture, including:
Fortune's World's Most Admired Companies The Wall Street Journal's Management Top 250 U.S. News & World Report's Best Companies to Work For Forbes' America's Best Employers for Company Culture About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com and on social media @sempra.
ATLANTA--(BUSINESS WIRE)--Sagard Real Estate (SRE), a leading U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm, today announced the acquisition of 4455 River Green Parkway, a 231,000-square-foot industrial facility in Duluth, Georgia. Fully leased to OmniMax International, a leading manufacturer and distributor of building products, the acquisition reflects SRE’s continued focus on strategically located industrial assets in high-demand markets with strong long-term fundamentals.
Located within River Green Business Park in Atlanta’s I-85 Northeast industrial corridor, the property benefits from immediate access to Interstate 85 and connectivity throughout the Atlanta metropolitan area and broader Southeast. Positioned within Gwinnett County, Atlanta’s largest industrial employment base, the asset is strategically positioned for manufacturing and distribution users, with access to major population centers, a robust labor force, and well-established industrial infrastructure.
“Atlanta continues to stand out as one of the nation’s most attractive industrial markets, supported by strong population growth, a diverse economic base, and long-term demand from manufacturing and distribution users,” said Matt DiVitto, Managing Director, Acquisitions at Sagard Real Estate. “4455 River Green Parkway combines a highly functional facility, mission-critical tenancy, and a strategic location within one of the market’s most established industrial corridors, making it a strong addition to our portfolio.”
The 12.9-acre property features a Class B industrial facility with 24- to 28-foot clear heights, 25 dock-high doors, excess trailer storage and yard capacity, and 6,000 amps of power, supporting a variety of manufacturing and distribution uses.
Sagard Real Estate’s acquisition of 4455 River Green Parkway further expands the firm’s industrial portfolio and reinforces its commitment to investing in strategically located assets positioned to benefit from durable market demand and long-term economic growth.
About Sagard Real Estate
Sagard Real Estate is a real estate investment advisor and operator providing investment management services throughout the U.S., including portfolio management, acquisitions, asset management, development, and property management for investors. With US$6.0 billion in assets under management, Sagard Real Estate offers commercial real estate investment strategies through separate accounts and commingled funds. Founded in 1997, the firm is headquartered in Denver and maintains regional investment offices in New York City, Charlotte, Austin, Los Angeles, and San Francisco metro areas. Sagard Real Estate is a part of Sagard, a multi-strategy alternative asset management firm. For more information, visit www.sagard.com/realestate or follow us on LinkedIn.
About Sagard
Sagard is a global multi-strategy alternative asset management firm with more than US$46B under management, 190 portfolio companies, and 540+ professionals.
We invest in venture capital, private equity, private credit, and real estate. We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value creation experts. Our dynamic and supportive ecosystem gives our partners the advantage they need to learn, grow and win at every stage. The firm has offices in Canada, the United States, Europe, and the Middle East. For more information, visit www.sagard.com or follow us on LinkedIn.
AUSTIN, Texas--(BUSINESS WIRE)--Sagard Real Estate (SRE), a leading U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm, today announced the acquisition of Chapman 71, a 13-acre industrial outdoor storage (IOS) property in Austin, Texas. The acquisition expands the IOS joint venture between SRE and global investment group La Caisse (formerly CDPQ), to invest in strategically located assets across major high-growth U.S. logistics and industrial infill markets.
“Austin continues to benefit from strong population growth, corporate relocations and expanding manufacturing activity, creating sustained demand for industrial outdoor storage facilities,” said Brett Birkeland, Managing Director, Acquisitions at Sagard Real Estate. “Chapman 71 is a strategically located, fully leased infill asset with strong connectivity to key transportation infrastructure and major employment centers, making it a valuable addition to our growing IOS portfolio with La Caisse.”
Located five miles from Austin-Bergstrom International Airport at the intersection of Highway 71 and Burleson Road, Chapman 71 consists of five buildings totaling approximately 126,027 square feet across 13 acres. The fully leased property serves a diverse tenant base across the construction, transportation, automotive and industrial services sectors.
The acquisition further strengthens the Sagard Real Estate–La Caisse IOS joint venture announced earlier this year, which continues to build a portfolio of high-quality assets supported by strong tenant demand, critical transportation infrastructure and favorable long-term industrial fundamentals.
About Sagard Real Estate
Sagard Real Estate is a real estate investment advisor and operator providing investment management services throughout the U.S., including portfolio management, acquisitions, asset management, development, and property management for investors. With US$6.0 billion in assets under management, Sagard Real Estate offers commercial real estate investment strategies through separate accounts and commingled funds. Founded in 1997, the firm is headquartered in Denver and maintains regional investment offices in New York City, Charlotte, Austin, Los Angeles, and San Francisco metro areas. Sagard Real Estate is a part of Sagard, a multi-strategy alternative asset management firm. For more information, visit www.sagard.com/realestate or follow us on LinkedIn.
About Sagard
Sagard is a global multi-strategy alternative asset management firm with more than US$46 billion under management, 190 portfolio companies, and 540+ professionals. We invest in venture capital, private equity, private credit, and real estate. We deliver flexible capital, an entrepreneurial culture, and a global network of investors, commercial partners, advisors, and value creation experts. Our dynamic and supportive ecosystem gives our partners the advantage they need to learn, grow and win at every stage. The firm has offices in Canada, the United States, Europe, and the Middle East. For more information, visit www.sagard.com or follow us on LinkedIn.
Sempra (SRE - Free Report) came out with quarterly earnings of $1.51 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $1.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +0.33%. A quarter ago, it was expected that this natural gas and electricity provider would post earnings of $1.13 per share when it actually produced earnings of $1.28, delivering a surprise of +13.27%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Sempra, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $3.66 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 11.82%. This compares to year-ago revenues of $3.8 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Sempra shares have added about 6.1% since the beginning of the year versus the S&P 500's gain of 7.6%.
What's Next for Sempra?While Sempra has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Sempra was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.03 on $3.23 billion in revenues for the coming quarter and $5.16 on $14.41 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Prairie Operating Co. (PROP - Free Report) , another stock in the broader Zacks Oils-Energy sector, has yet to report results for the quarter ended March 2026.
This company is expected to post quarterly earnings of $0.15 per share in its upcoming report, which represents a year-over-year change of +104.3%. The consensus EPS estimate for the quarter has been revised 21.3% lower over the last 30 days to the current level.
Prairie Operating Co.'s revenues are expected to be $87.18 million, up 541.5% from the year-ago quarter.
Key Takeaways Sempra reported Q1 adjusted EPS of $1.51, up 4.9% year over year.SRE's infrastructure segment earnings climbed to $262 million from $146 million a year ago.Sempra reaffirmed 2026 EPS guidance and projected 7-9% long-term EPS growth. Sempra (SRE - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $1.51, in line with the Zacks Consensus Estimate. The bottom line increased 4.9% from the year-ago quarter’s figure of $1.44.
Including one-time items, the company generated GAAP earnings of $1.58 per share compared with $1.39 in the first quarter of 2025.
SRE’s Total RevenuesRevenues of $3.66 billion missed the Zacks Consensus Estimate of $4.15 billion by 11.8%. The top line decreased 3.9% from $3.8 billion in the year-ago quarter.
SRE’s Segmental UpdateSempra California: Quarterly earnings amounted to $720 million compared with the year-ago quarter’s level of $724 million.
Sempra Texas Utilities: Earnings in this segment increased to $171 million from $146 million in the year-ago quarter.
Sempra Infrastructure: The segment recorded earnings of $262 million compared with $146 million in the year-ago quarter.
Parent and Other: The segment reported a loss of $116 million, wider than the prior-year period’s loss of $110 million.
SRE’s Financial UpdateAs of March 31, 2026, Sempra Energy’s cash and cash equivalents totaled $0.79 billion compared with $0.03 billion as of Dec. 31, 2025.
As of the same date, long-term debt and finance leases amounted to $30.85 billion compared with $28.98 billion as of Dec. 31, 2025.
Cash flow from operating activities in the first three months of 2026 totaled $1.81 billion compared with $1.48 billion a year ago.
SRE’s GuidanceThe company expects its 2026 adjusted earnings to be in the range of $4.80-$5.30 per share. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.16 per share, higher than the midpoint of the company’s guided range.
SRE has also provided a full-year 2027 EPS guidance of $5.10-$5.70. Sempra expects a 7-9% long???term EPS growth rate.
SRE’s Zacks RankSempra Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases TotalEnergies SE (TTE - Free Report) reported first-quarter 2026 operating earnings of $2.45 (€2.10) per share, which surpassed the Zacks Consensus Estimate of $1.99 by 23.1%. The bottom line improved 34% from the year-ago figure of $1.83 (€1.74).
TTE’s total revenues for the first quarter were $49.51 billion, which increased from the year-ago reported figure of $47.9 billion by 3.36%. The metric beat the Zacks Consensus Estimate of $46.85 billion by 5.9%.
Occidental Petroleum Corporation (OXY - Free Report) reported first-quarter 2026 operating earnings of $1.06 per share, which beat the Zacks Consensus Estimate of 65 cents by 63.08%. The bottom line also increased 21.8% from 87 cents in the year-ago quarter.
OXY’s total revenues were $5.11 billion, which missed the Zacks Consensus Estimate of $5.5 billion by 7%. The top line declined 25.3% year over year.
Devon Energy Corp. (DVN - Free Report) reported first-quarter 2026 EPS of $1.04, surpassing the Zacks Consensus Estimate of $1 by 4%. The metric was down 14% year over year.
DVN’s total revenues for the quarter were $3.80 billion, which lagged the Zacks Consensus Estimate of $4.16 billion by 8.5%. The top line decreased 14.5% from the year-ago quarter’s figure.
A $31.00 per share cash payment represents a premium of more than 20% over the recent market prices, estimated fair value, and par value of the shares
, /PRNewswire/ -- Southern California Gas Company (SoCalGas) (OTCQB: SOCGP) (OTC PINK: SOCGM), a subsidiary of Sempra (NYSE: SRE), today announced it will hold a Special Meeting of Shareholders (the "Special Meeting") on July 13, 2026. The anticipated record date for the Special Meeting is May 18, 2026, and only shareholders at the close of business on that date will be eligible to vote.
At the Special Meeting, SoCalGas will seek approval from holders of its 6% Preferred Stock, par value $25.00, and 6% Preferred Stock, Series A, par value $25.00, to retire all outstanding shares of preferred stock in exchange for a cash payment of $31.00 per share, plus accrued and unpaid dividends to but excluding the retirement date. The cash payment represents a premium of more than 20% over the recent market prices, estimated fair value, and par value of the shares.
As part of our ongoing efforts to modernize our business and serve our stakeholders, SoCalGas is pursuing the proposed transaction to simplify its capital structure while delivering immediate value to shareholders. SoCalGas has filed a preliminary proxy statement for the Special Meeting with the U.S. Securities and Exchange Commission ("SEC") and, subject to the timing of SEC review, expects to file its definitive proxy statement on or about May 19, 2026, at which time shareholders as of the record date for the Special Meeting will be able to submit their votes.
SoCalGas urges all preferred shareholders to vote "FOR" this proposal in advance of the meeting. Copies of the proxy materials are available on SoCalGas' website at socalgas.com/about-us/special-shareholder-meeting.
Shareholders with questions about how to vote should contact the Proxy Information Administrator for the Special Meeting:
D.F. King & Co, Inc.
28 Liberty Street, 53rd Floor
New York, New York 10005
Shareholders may call toll free: (800) 769-7666
Banks and brokers may call collect: (212) 914-0093
[email protected]
About SoCalGas
SoCalGas is the largest gas distribution utility in the United States, serving more than 21 million consumers across approximately 24,000 square miles of Central and Southern California. Our mission is: Safe, Reliable, and Affordable energy delivery today. Ready for tomorrow. SoCalGas is a recognized leader in the energy industry and has been named Corporate Member of the Year by the Los Angeles Chamber of Commerce for its volunteer leadership in the communities it serves. SoCalGas is a subsidiary of Sempra (NYSE: SRE), a leading U.S. utility holding company. For more information, visit SoCalGas.com/newsroom or connect with SoCalGas on social media @SoCalGas.
Message Funded by Shareholders.
Additional Information about the Special Meeting and Where to Find It
In connection with the Special Meeting, on May 4, 2026, SoCalGas filed a preliminary proxy statement with the SEC. On or around May 19, 2026, SoCalGas expects to file its definitive proxy statement and mail proxy cards for the Special Meeting to the shareholders of SoCalGas entitled to vote at the Special Meeting. This communication is not intended to be, and is not, a substitute for the proxy statement or any other document that SoCalGas may file with the SEC in connection with the Special Meeting. SOCALGAS URGES INVESTORS TO READ THE PROXY STATEMENT AND OTHER MATERIALS FILED WITH THE SEC (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) CAREFULLY AND IN THEIR ENTIRETY AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE SPECIAL MEETING AND THE PROPOSALS TO BE VOTED ON AT THE SPECIAL MEETING. Investors are able to obtain free copies of the proxy statement and other documents that will be filed by SoCalGas with the SEC (when available) at http://www.sec.gov, the SEC's website, or from SoCalGas' website at https://www.socalgas.com/about-us/special-shareholder-meeting. In addition, investors can obtain the Notice of Special Meeting of Shareholders, proxy statement and proxy card free of charge (when available) at www.proxyvote.com.
This communication does not constitute a solicitation of proxy, an offer to purchase or a solicitation of an offer to sell any securities. SoCalGas, its directors and certain of its officers and employees may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Special Meeting. Information about SoCalGas' directors and executive officers is set forth in its definitive information statement for its 2026 annual shareholders meeting filed with the SEC on April 14, 2026. These documents may be obtained free of charge at the SEC's website at www.sec.gov or from the Sempra website at www.sempra.com under the "Investors" and "SEC Filings" tabs. Additional information regarding the interests of participants in the solicitation of proxies in connection with the Special Meetings will be included in the definitive proxy statement that SoCalGas will file the SEC in connection with the Special Meeting and other relevant materials SoCalGas may file with the SEC.
Information Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions about the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed or implied in any forward-looking statement. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise.
In this press release, forward-looking statements can be identified by words such as "believe," "expect," "intend," "anticipate," "contemplate," "plan," "estimate," "project," "forecast," "envision," "should," "could," "would," "will," "confident," "may," "can," "potential," "possible," "proposed," "in process," "construct," "develop," "opportunity," "preliminary," "pro forma," "strategic," "initiative," "target," "outlook," "optimistic," "poised," "positioned," "maintain," "continue," "progress," "advance," "goal," "aim," "commit," or similar expressions, or when we discuss our guidance, priorities, strategies, goals, vision, mission, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those expressed or implied in any forward-looking statement include: the ability to obtain all necessary approvals to effect the amendment of our restated articles of incorporation and the retirement of the preferred stock; the ability to achieve the anticipated benefits of the transactions described herein; the effects on such transactions of industry, market, economic, political or regulatory conditions outside of SoCalGas' control; fees, costs and expenses associated with the transactions described herein; transaction-related tax and accounting impacts; the diversion of management time on transaction-related issues; and the effects on such transactions of factors affecting SoCalGas' business and securities, including the risks and uncertainties discussed in the reports we file with the SEC, including under the headings "Risk Factors" and "Information Regarding Forward-Looking Statements" in our annual report on Form 10-K for the year ended December 31, 2025 and subsequently filed quarterly reports on Form 10-Q. Investors should not rely unduly on any forward-looking statements.
I am rating Sempra a Strong Buy because Oncor's 127 GW qualifying load forecast creates a much larger long-term transmission and distribution opportunity for the company. The biggest growth driver is Oncor's large-load opportunity in Texas. I estimate that if only 20 GW of Oncor's 127 GW load converts, it could create $17 billion of incremental rate base. My price target is $163, representing a 76% potential upside. I arrive at the PT by using a 21x FWD earnings multiple and a 2030 EPS estimate of $7.74.
SAN DIEGO, May 13, 2026 /PRNewswire/ -- Sempra (NYSE: SRE) today announced that its board of directors has declared a $0.6575 per share quarterly dividend on the company's common stock, which is payable July 15, 2026, to common stock shareholders of record at the close of business on June 25, 2026.
About Sempra
Sempra's mission is to build America's leading utility growth business. As owner of one of the largest energy networks on the continent, Sempra is electrifying and improving energy resilience in California and Texas, the two largest economies in the U.S. The company is recognized as a leader in responsible business practices and for its high-performance culture focused on safety and operational excellence, as demonstrated by Sempra's inclusion in The Wall Street Journal's Management Top 250 and Fortune's World's Most Admired Companies. More information about Sempra is available at sempra.com and on social media @sempra.
