135.88 0.00 (0.00%)
After hours: 4:52PM EDT
|Bid||127.51 x 800|
|Ask||135.46 x 1100|
|Day's Range||134.11 - 135.88|
|52 Week Range||100.49 - 135.88|
|Beta (3Y Monthly)||0.38|
|PE Ratio (TTM)||36.59|
|Earnings Date||Aug 5, 2019 - Aug 9, 2019|
|Forward Dividend & Yield||3.87 (3.02%)|
|1y Target Est||132.90|
Moody's Investors Service ("Moody's") affirmed the ratings of Southern California Gas Company (SoCalGas) including its senior unsecured rating of A1, senior secured rating of Aa2 and short-term rating for commercial paper of P-1. The outlook for SoCalGas was changed to negative from stable. SoCalGas is a subsidiary of Sempra Energy (Baa1 negative).
NEW YORK (AP) — Saudi Arabia's state owned oil company will begin buying liquid natural gas from a U.S. company under a 20 year agreement, reflecting the shifting dynamics in the world's energy markets.
DUBAI/NEW YORK (Reuters) - Saudi Aramco signed a 20-year agreement to buy liquefied natural gas (LNG) from a forthcoming export terminal in Texas that U.S.-based Sempra Energy is developing, the two companies said on Wednesday. The Saudi state oil giant plans to become a major global gas player, and this deal will provide it with access to some of the world's cheapest and most abundant natural gas via the U.S. shale boom. Aramco has been developing its own gas resources and eyeing gas assets in the United States, Russia, Australia and Africa.
The proposed deal, which includes a 20-year agreement to buy 5 million tons of gas annually from the plant, would mark Aramco’s first entry into production outside Saudi Arabia. The state-owned firm and San Diego-based Sempra declined to disclose the value of the potential deal. Saudi Arabia is tapping into the U.S. shale revolution, joining a wave of LNG exporters that are shipping the fuel to buyers in Europe, Latin America and Asia.
The agreement would see Aramco buy 5 million tons of liquefied natural gas per year from Sempra's Port Arthur, Texas export terminal. This would be Aramco's first deal to buy LNG from the United States and advance the oil giant's goal of becoming a major player in the growing global gas market. If finalized, the deal would make it more likely that Sempra Energy gives the green light to its Port Arthur LNG facility.
Saudi Aramco has announced a deal with Sempra Energy for a 25 per cent stake in the first phase of its Port Arthur liquified natural gas export project in Texas, as the state energy giant seeks to grow its business beyond oil. Financial terms for the deal, which still needs to be finalised, were not disclosed. Saudi Aramco had held talks with several suppliers in the US in recent months as it purses gas investments worth $150bn at home and abroad over the next decade.
DHAHRAN, Saudi Arabia and SAN DIEGO, May 22, 2019 /PRNewswire/ -- Sempra Energy (SRE) and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for 5 million tonnes per annum (Mtpa) of LNG offtake from Phase 1 of the Port Arthur LNG export project under development. It also includes the negotiation and finalization of a 25% equity investment in Phase 1 of Port Arthur LNG.
Saudi Arabian Oil Co , known as Aramco, has agreed to buy U.S. liquefied natural gas from San Diego-based Sempra Energy's Port Arthur project in Texas, the Wall Street Journal reported on Tuesday, citing ...
Exporting natural gas by setting up large liquefication plants is a very capital-intensive undertaking, with each unit running up multi-billion-dollar bills.
The California utility responsible for a massive, 4-month-long gas leak near Los Angeles in 2015 failed to investigate dozens of leaks over decades at the natural gas storage facility, according to a state report released on Friday. Because Southern California Gas, a unit of Sempra Energy , had failed to investigate and analyze leaks since the 1970s, the consequences of such corrosion were not understood, leading to the 2015 incident, the report found. The report was commissioned by two state regulatory agencies, the California Public Utilities Commission and the Division of Oil, Gas and Geothermal Resources, and conducted by a third party, Blade Energy Partners.
The rupture of a 7-inch (18-centimeter) well casing at Sempra Energy’s Aliso Canyon storage complex was due to “microbial corrosion” brought on by contact with groundwater, an independent analysis conducted by Blade Energy Partners and commissioned by two state agencies found. The report also concluded there had been more than 60 leaks in the field dating back to the 1970s, and Sempra didn’t carry out detailed inspections after they occurred, the California Public Utilities Commission and Department of Conservation said in a joint statement. The company’s Southern California Gas lacked “any form of risk assessment” to manage the integrity of its wells and hadn’t established systematic practices to protect against corrosion and monitor well pressure, the agencies said.
[Editor's note: This story was originally published in September 2018. It has since been updated and republished.]Utility stocks were supposed to be yesterday's favorite investment. The theory regarding utility stocks was simple: Robust economic growth coupled with a full labor market was supposed to spark rising inflation. The Fed was supposed to fight rising inflation with rate hikes. Fixed income yields were supposed to rise. Utility stocks, which were long viewed as bond substitutes in an era of ultra-low interest rates, were supposed to fall.But that theory hasn't fully materialized into reality.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe result? Utility stocks haven't lost their shine. With inflation relatively contained and investors ducking into safety, stocks in utilities are still attractive assets to own for yield hunters. That is why the Utilities Select Sector SPDR ETF (NYSEARCA:XLU) finished the past month up 2.3%.compared to the S&P 500's loss of 83 basis points.The markets' recent volatility has contributed to the XLU's gain, as investors flee toward any safe haven. Not to mention, a number of other catalysts are in play. Inflation isn't soaring higher because technology giants are suppressing inflationary pressures (just think about the downward pressure Amazon (NASDAQ:AMZN) is putting on all consumer goods prices). This trend won't reverse any time soon, and thus, inflationary pressures should remain subdued for the foreseeable future. With those forces subdued, utility stocks have room to rally. * Top 7 Dow Jones Stocks of 2019 -- So Far With that said, what are the best utility stocks to buy for your portfolio? Here's a list of five stocks that I think are worth a look: American Electric Power (AEP)Considered one of the industry's heavyweights, American Electric Power (NYSE:AEP) is a massive electric utility company that delivers electricity to more than 5 million customers across eleven states. Over the past month, AEP stock is up just shy of 3%.The business right now is doing pretty well, as robust economic strength in the company's core markets has boosted the business. Overall, sales and earnings are both trending higher at a healthy rate. Sempra Energy (SRE)Another one of the industry's heavyweights is Sempra Energy (NYSE:SRE), the multi-faceted energy company that provides energy services to more than 40 million customers globally across Southern California, Texas, Chile and Peru. In the past month, SRE stock is up 2.6%.Sempra's business is doing well: Both revenues and earnings are trending higher amid a favorable economic backdrop. Plus, the company is continuing its energy diversification efforts by expanding its liquid natural gas (LNG) business, something which the company feels can help fuel sustainable long-term growth. * 10 Baby Boomer Stocks to Buy The dividend yield on SRE stock sits right around 2.96%. That isn't great, but it's right around where the yield has been over the past several years. Duke Energy (DUK)Next up is electric power and gas utility giant Duke Energy (NYSE:DUK). Much like the other names on this list, Duke's operations are stable and healthy. That said, DUK stock is down 3% over the past month. That's contributed to an increased dividend yield, at 4.3%.Business remains fine, despite DUK's downturn, mostly thanks to favorable weather and strengthening economic conditions. And Duke's revenues and earnings have been trending consistently higher at a slow and stable rate.This level of growth should persist for the next several years as economic conditions remain solid. American Water Works Company (AWK)Although electricity and power are very important utilities, another utility of equal importance is water, and that is where American Water Works Company (NYSE:AWK) comes into the picture.American Water provides waters services to 15 million people across 46 states and Canada. That makes American Water the largest and most diverse publicly traded water company. Moreover, American Water is planning on spending a whole bunch of money over the next several years to modernize water distribution infrastructure, an investment that will likely lead to rate hike approvals and robust long-term earnings growth. * 7 Stocks to Buy that Lost 10% Last Week AWK stock has a dividend yield of 1.8%. That isn't great. But, what the company lacks in dividend yield, it makes up for in earnings growth, which should be able to run around 10%-per-year for the next several years. That combination of healthy earnings growth and stable yield should make AWK stock a winning investment. NextEra Energy (NEE)Perhaps the utility stock with the most long-term earnings-growth potential on this list is NextEra Energy (NYSE:NEE). That is because not only does NextEra operate a massive utility business like the other utility players on this list, but the company is also a leading player in renewable energy and battery storage.Over the past decade, this company has grown earnings and dividends at an 8%-per-year clip, and that robust growth should continue so long as the company's renewable business continues to scale.The one thing to be worried about when it comes to NEE stock is that the dividend yield is at 2.52%, which is a five-year low. But, earnings growth is robust, and it is large enough to compensate for a historically low dividend yield.As of this writing, Luke Lango was long AMZN and AWK. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy that Lost 10% Last Week * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Service Stocks That Can Win the Trade War -- According to Goldman Sachs Compare Brokers The post 5 Utility Stocks to Buy for an Extra Durable Portfolio appeared first on InvestorPlace.
DALLAS and SAN DIEGO, May 16, 2019 /PRNewswire/ -- Today, Oncor Electric Delivery Company LLC (Oncor), Sempra Energy (SRE), and InfraREIT, Inc. (InfraREIT) announced that Oncor's acquisition of InfraREIT, and Sempra Energy's acquisition of a 50% limited-partnership interest in Sharyland Utilities, LLC (Sharyland) have now closed. As a result of the acquisition, InfraREIT merged with and into a wholly owned subsidiary of Oncor and ceased to exist.
LOS ANGELES, May 16, 2019 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the utility received approval from the California Public Utilities Commission (CPUC) to begin the next phase in construction of four new dairy biomethane projects in California. Last week, the CPUC approved the contracts signed between SoCalGas and the developers of the four projects for the construction of infrastructure that will connect each biomethane facility to the SoCalGas pipeline system. This approval now allows SoCalGas to move forward, starting with the design and engineering phase.
HACKBERRY, La. (AP) — President Donald Trump showcased his "America First energy policy" on Tuesday during a trip to Louisiana designed to highlight his administration's efforts to increase liquefied natural gas exports and boost the country's energy infrastructure.
SAN DIEGO, May 14, 2019 /PRNewswire/ -- Sempra Energy (SRE) today celebrated the completion of construction of Train 1 of the Cameron LNG export project in Hackberry, La., with a group of international, federal, state and local officials, including the U.S. president and members of the U.S. administration. The celebratory visit coincided with today's announcement that Cameron LNG is producing liquefied natural gas (LNG) from the first liquefaction train of the three-train facility, a major commissioning milestone.
President Donald Trump on Tuesday said the U.S. and China were having a “little squabble” on trade, talking up his relationship with President Xi Jinping even as he said he was looking at more tariffs.
"Reaching this important milestone of first LNG production is truly a credit to the team at Cameron LNG and the work they've done to reach this point," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG. Cameron LNG completed all major construction activities for Train 1 of the liquefaction-export project and began the commissioning and start-up process in November 2018.
I've personally owned Berkshire Hathaway (BRK.B) long enough to build up unrealized gains five times my initial investment. That hardly makes me unique, observes Roger Conrad, income specialist and editor of Conrad's Utility Investor.
SAN DIEGO, May 13, 2019 /PRNewswire/ -- Sempra Energy (SRE) today announced that George W. Bilicic has been named group president for Sempra Energy, effective upon completion of his service at Lazard later this year. Bilicic will lead the company's strategy, corporate development, and legal activities, reporting to Jeffrey W. Martin, chairman and CEO of Sempra Energy. Bilicic is currently a vice chairman of investment banking with Lazard Ltd, a New York-based investment banking firm.