Sempra's LNG export , Mexican gas infrastructure and regulated investments support robust growth.
We maintain our $99 per share fair value and stable, narrow moat ratings for Sempra Energy after the company reported second-quarter 2016 earnings down 18% to $0.85 per share from $1.03 in second-quarter 2015, excluding one-time charges and an impairment at SoCal Gas. Management reaffirmed full-year 2016 earnings guidance of $4.60-$5.00 per share, in line with our $4.83 estimate. Sempra also confirmed its outlook for 12% long-term EPS growth and 8%-9% dividend growth. Our forecast stands at 11.5...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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