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Sempra Energy 4Q Profit Up 3.9%; Dividend Raised 25%

DOW JONES NEWSWIRES Sempra Energy's (SRE) fourth-quarter earnings rose 3.9% as the natural-gas distributor and market posted strong growth at its San Diego Gas & Electric utility and the company's pipelines and storage segment. The company's board approved a 25% increase in the quarterly dividend, raising it to 60 cents a share, up by 12 cents a share. The increased payout is estimated to cost Sempra an additional $116 million a year. For the year, the company projected per-share earnings of $4 to $4.30, reflecting changes in how it accounts for its solar-generation projects. Analysts polled by Thomson Reuters recently expected $4.46. Sempra, which owns electric and natural-gas utilities in California, as well as gas pipelines and storage facilities and gas export terminals in the U.S. and Mexico, has been expanding into the wholesale solar-power and wind-power markets. The San Diego-based company's Cameron LNG recently was authorized to export liquefied natural-gas, to countries that have free-trade agreements with the U.S. Domestic natural gas producers are hoping to sell the commodity overseas, where it can command much higher prices than in the U.S. Sempra reported a profit of $294 million, or $1.21 a share, up from $283 million, or $1.15 a share, a year earlier. Analysts polled by Thomson Reuters most recently projected earnings of $1.06. Revenue increased 11% to $2.6 billion. San Diego Gas & Electric posted a 50% rise in earnings, due primarily to a favorable resolution of regulatory matters, earnings from construction projects in progress and higher authorized margins. Southern California Gas Co. earnings rose 6.8%. Sempra Pipelines and Storage earnings were up 79%, with a boost from the acquisition of the controlling interest in two South American utilities in April 2011. Sempra Generation swung to a segment loss of $6 million from year-earlier earnings of $43 million, mostly owing to the expiration of a 10-year California Department of Water Resources power-supply contract in September. Shares were up 2% at $59.07 in recent premarket trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Sempra (SRE)
DateTimeHeadline
02/11/201617:15:16Current Report Filing (8-k)
02/11/201616:29:00SoCalGas Temporarily Controls Flow of Gas at Leaking Aliso Canyon...
02/11/201609:15:19Amended Statement of Ownership (sc 13g/a)
02/10/201620:59:00Aliso Canyon Gas Leak - Incident Update - February 10, 2016
02/10/201618:43:00SoCalGas Declares Preferred Dividends
02/10/201617:07:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces the Commencement...
02/10/201615:30:00IMPORTANT INVESTOR ALERT: Goldberg Law PC Announces An Ongoing...
02/10/201610:30:36Amended Statement of Ownership (sc 13g/a)
02/09/201610:26:00Scott+Scott, Attorneys at Law, LLP Announces Investigation of...
02/08/201622:03:00Aliso Canyon Gas Leak - Incident Update - February 8, 2016
02/08/201614:58:00SoCalGas Extends Transition Period for Relocated Residents from...
02/08/201613:13:00SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces...
02/02/201616:38:00Southern California Gas Company Statement Regarding Lawsuit by...
01/31/201612:00:00SoCalGas Wants Customers to Know They Might Have Higher Natural...
01/28/201616:58:00SDG&E To Install Thousands Of Electric Vehicle Charging Stations
01/25/201622:47:00Aliso Canyon Gas Leak -- Incident Update -- January 25, 2016
01/20/201616:36:18Statement of Changes in Beneficial Ownership (4)
01/20/201616:35:27Statement of Changes in Beneficial Ownership (4)
01/20/201616:35:27Statement of Changes in Beneficial Ownership (4)
01/20/201616:33:29Statement of Changes in Beneficial Ownership (4)

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