Report
Andrew Bischof, CFA, CPA
EUR 101.80 For Business Accounts Only

The pending Oncor transaction would give Sempra a foothold in high-growth Texas.

We are reaffirming our $110 per share fair value estimate, narrow moat and stable moat trend for Sempra Energy after meeting with management at the Edison Electric Institute Financial Conference in Orlando, Florida. We continue to forecast 11% annual growth through 2021.
Sempra's California utilities filed their 2019 General Rate Case, or GRC, with the three-year application set to be decided upon by year-end. The filings call for 19% revenue growth at SoCalGas in 2019 compared with 2018, and 11...
Underlying
Sempra Energy

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Bischof, CFA, CPA

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