Sempra Energy Wisely Focusing on Core Assets
We are maintaining our $123 per share fair value estimate and stable, narrow-moat ratings for Sempra Energy after the company reported full-year 2018 ongoing earnings per share of $5.57 compared with $5.42 in the same year-ago period. Management reaffirmed its $5.70-$6.30 earnings guidance range, in line with our expectations. Sempra recently announced an 8% dividend increase. We expect dividend increases of 11% once Cameron comes on line.In 2018, management made significant progress focusing o...
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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