117.27 0.00 (0.00%)
After hours: 5:15PM EDT
|Bid||90.10 x 1100|
|Ask||0.00 x 2200|
|Day's Range||117.02 - 120.00|
|52 Week Range||100.49 - 127.22|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2018 - Nov 2, 2018|
|Forward Dividend & Yield||3.58 (3.04%)|
|1y Target Est||124.40|
NEW YORK/LONDON, Sept 18 (Reuters) - China set a 10 percent tariff on U.S. liquefied natural gas (LNG) imports, extending a trade dispute into energy and casting a shadow over U.S. export terminals that would propel the United States into the world's second-largest LNG seller. Beijing on Tuesday said it would tax U.S. products worth $60 billion effective Sept. 24 in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war.
In the struggle over the future of Sempra Energy between the company and Elliott Management Corp., we have reached the truce stage. Back in June, Elliott launched a public effort criticizing Sempra as an undervalued conglomerate that needed to overhaul its strategy and management. Sempra will cooperate in getting two Elliott nominees onto its board.
Beijing announced on Tuesday it would tax thousands of U.S. products worth $60 billion (45.62 billion pounds) in retaliation for tariffs imposed by U.S. President Donald Trump as the trade war between them escalated. China became the world's second-largest importer of LNG last year, behind Japan and ahead of South Korea, driven by a push to convert to cleaner gas from coal generation energy. At the same time, the United States is poised to become a major exporter with the majority of LNG supply growth in coming years from new terminals being planned or built now.
Sempra Energy said Tuesday it has reached an agreement with activist shareholders Elliott Management and Bluescape Energy Partners LLC, which between them own a 4.9% stake in Sempra valued at $1.6 billion. The parties have agreed to appoint two new directors to Sempra's board that are mutually agreed on. Sempra will refocus its LNG Construction and Technology Committee into a new LNG and Business Development Committee, comprising its three current members and the two new directors. "The LNG and Business Development Committee's updated charter calls for it to work with management and the board in leading a comprehensive review of Sempra Energy's businesses," the company said in a statement. Sempra will update the market on the results of the strategic review and any planned actions in the first quarter of 2019. "Sempra Energy is committed to an open dialogue with our shareholders and to considering all investor perspectives on the company's existing strategy and longer-term opportunities to create shareholder value," Chief Executive Jeffrey Martin said in the statement. Shares were not yet active premarket, but have gained 11% in 2018, while the S&P 500 has gained 8%.
SAN DIEGO, Sept. 18, 2018 /PRNewswire/ -- Sempra Energy (SRE) today announced that it has entered into a cooperation agreement with affiliates of Elliott Management Corporation (Elliott) and Bluescape Energy Partners LLC (Bluescape). Funds affiliated with Elliott and Bluescape collectively own a 4.9-percent economic interest in Sempra Energy valued at $1.6 billion. As part of the agreement and the ongoing refreshment of the Sempra Energy board, the parties have worked cooperatively together to identify a discrete list of final board nominees and expect to work together for Sempra Energy to announce and appoint two new directors to Sempra Energy's board that are mutually agreed between the parties in the coming weeks.
SAN DIEGO , Sept. 14, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) today announced that Lisa Glatch is joining the company in the newly created position of strategic initiatives officer for Sempra Energy. ...
Sempra Energy's (SRE) unit signs contract with Chevron for 50% of the initial storage capacity at the Topolobampo refined fuels marine terminal.
Company Also Recognized on 2018 Dow Jones Sustainability North America Index for 8th Consecutive Year SAN DIEGO , Sept. 14, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE) has been named to the 2018 Dow ...
SAN DIEGO, Sept. 13, 2018 /PRNewswire/ -- Sempra Energy (SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (IENOVA.MX), has signed a long-term contract with Chevron Combustibles de México S. de R.L. de C.V. (Chevron) for 50 percent of the 1-million-barrel initial capacity of the Topolobampo refined fuels marine terminal in Sinaloa, Mexico. Under the agreement, subsidiaries of Chevron will have storage capacity of 500,000 barrels of refined fuels and the option to acquire up to 25 percent of the equity in the terminal after commercial operations begin.
LOS ANGELES, Sept. 13, 2018 /PRNewswire/ -- Southern California Gas Co. (SoCalGas) today announced the company has joined the Hydrogen Council, a global initiative of leading energy, transport and industry companies with a united vision to foster the role of hydrogen technologies in the global energy transition. The announcement was made during the Global Climate Action Summit in San Francisco where SoCalGas representatives participated in the Council's annual meeting. The prime focus of the meeting was discussion and planning geared towards delivering on the Council's vision of utilizing hydrogen to avert 6 gigatonnes (Gt) of CO2 emissions, create a $2.5 trillion market and provide employment for more than 30 million people worldwide by mid-century. Over the last three years, SoCalGas has commissioned numerous hydrogen-related research and development projects. One of the company's first hydrogen projects was a partnership with the University of California, Irvine on power-to-gas (P2G) technology. P2G converts renewable electricity from solar or wind which would otherwise go to waste into hydrogen. This renewable hydrogen can then be blended with natural gas for use in everything from home appliances to power plants. Additionally, this hydrogen could also be used in fuel cell vehicles or converted to methane for use in a natural gas pipeline and storage system. Hydrogen from the P2G projects helps fuel the UC Irvine campus power plant.
Inc., a federal appeals court said. The U.S. Court of Appeals for the Third Circuit on Thursday barred NextEra from collecting the breakup fee, a decision that boosts recoveries for Elliott Management Corp. and other creditors of Oncor’s former owner, Energy Future Holdings Corp. Bankruptcy courts have discretion under chapter 11 rules to uphold or erase these fees, which can subtract money from a bankruptcy estate and its creditors when paid.
LOS ANGELES, Sept. 12, 2018 /PRNewswire/ -- Leaders in the renewable natural gas industry will gather in Los Angeles on October 2 to share the keys to successful biomethane development. Utilities Southern California Gas Co. (SoCalGas), Pacific Gas and Electric Company (PG&E), and the national nonprofit organization Energy Vision, will jointly host the free one-day conference, "The Power of Waste: Renewable Natural Gas (RNG) for California." The event will be held at SoCalGas' Energy Resource Center in Downey, California, on Tuesday, October 2, from 8:30 a.m. to 4:00 p.m.
Sempra Energy's (SRE) initial storage capacity of its upcoming Baja Refinados liquid fuels marine terminal is now fully contracted due to commitment from British Petroleum and Chevron.
Under the agreement, BP will have storage capacity of 500,000 barrels of liquid fuels to supply its growing network of service stations in northern Mexico. In addition, subject to the execution of certain agreements, BP will have the option to acquire up to 25 percent of the terminal's equity after commercial operations begin in the second half of 2020. In April, IEnova announced it signed a long-term contract with Chevron Combustibles de México S. de R.L. de C.V for approximately 50 percent of the facility's initial storage capacity to supply Chevron service stations and other commercial and industrial consumers.
NOTE: On September 11, 2018, the press release was corrected as follows: The third and fourth lines of the debt list under San Diego Gas & Electric Company were changed to Preferred Shelf, Downgraded to (P)Baa1 from (P)A3 and Non-Cumulative Preferred Shelf, Downgraded to (P)Baa1 from (P)A3, respectively. New York, September 06, 2018 -- Moody's Investors Service ("Moody's") today downgraded all the long-term ratings of San Diego Gas & Electric Company (SDG&E), including its Issuer rating to A2 from A1 and senior secured rating to Aa3 from Aa2.
SAN DIEGO, Sept. 10, 2018 /PRNewswire/ -- The board of directors of Sempra Energy (SRE) today announced that CEO Jeffrey W. Martin has been elected chairman of the company, effective Dec. 1. Martin will succeed Debra L. Reed, who is retiring from Sempra Energy Dec. 1, as previously announced. Martin, 56, has served as Sempra Energy's CEO since May.
Moody's Investors Service ("Moody's") today downgraded all the long-term ratings of San Diego Gas & Electric Company (SDG&E), including its Issuer rating to A2 from A1 and senior secured rating to Aa3 from Aa2. Concurrently, Moody's affirmed the Prime-1 short-term commercial paper rating.
SAN DIEGO, Sept. 6, 2018 /PRNewswire/ -- Today, the Sempra Energy (SRE) board of directors declared a quarterly dividend of $0.895 per share of common stock. The common stock dividend is payable Oct. 15, 2018, to common stock shareholders of record at the close of business on Sept. 21, 2018. The company's board of directors also declared a quarterly dividend of $1.50 per share on the company's 6-percent Mandatory Convertible Preferred Stock, Series A (Preferred Stock, Series A).
SAN DIEGO , Sept. 6, 2018 /PRNewswire/ -- Sempra Energy (NYSE:SRE) is the only U.S. utility holding company ranked in the top 25 on the Thomson Reuters iX Global Diversity and Inclusion Index , released ...
Federal regulators have released new timelines for reviewing applications for 12 proposed liquefied natural gas export terminals, including six projects planned in Texas.
Utility stocks were supposed to be yesterday’s favorite investment. The theory regarding utility stocks to buy was simple: Robust economic growth coupled with a full labor market was supposed to spark rising inflation. Utility stocks, which were long viewed as bond substitutes in an era of ultra-low interest rates, were supposed to fall.
SAN DIEGO , Sept. 4, 2018 /PRNewswire/ -- Sempra Energy (NYSE: SRE), has received a Notice of Schedule from the Federal Energy Regulatory Commission (FERC) that sets Jan. 31, 2019 , as the planned completion ...
The United States is slated to become the world's third-largest exporter of liquefied natural gas by 2020. These facilities will get the party started.