Sempra Energy Receives Positive California Regulatory Agreement, Continues Impressive Growth
We are maintaining our $102 per share fair value and stable, narrow moat ratings for Sempra Energy after the company reported full-year 2016 ongoing earnings per share of $5.05 compared with $5.17 in 2015. Management increased 2017 ongoing earnings guidance of $4.85-$5.25, consistent with our $5.09 estimate and $0.05 higher than management's previous guidance. Sempra increased its 2017 dividend 9% to $3.29 per share.Sempra Energy resolved a key regulatory concern at its California utilities for...
Sempra Energy is an energy-services holding company. The company's segments are: San Diego Gas & Electric Company, which provides electric services and natural gas services in Southern California; Southern California Gas Company, which owns and operates a natural gas distribution, transmission and storage system that supplies natural gas in Southern California and portions of central California; Sempra Texas Utilities, which includes Oncor Electric Delivery Company LLC that provides electricity to consumers; Sempra Mexico, which develops, owns and operates, or holds interests in, energy infrastructure in Mexico; and Sempra LNG, which develops projects for the export of liquefied natural gas.
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