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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
06/24/201514:35:57Annual Report of Employee Stock Plans (11-k)
06/23/201513:30:00SDG&E Has Sufficient Power Supplies To Meet Summer Demand
06/17/201518:40:00SDG&E Honors The City Of San Diego And Balboa Park As Energy...
06/16/201516:05:00Sempra Energy to Pursue Formation of Sempra Partners, LP
06/16/201511:51:00Sempra Energy Declares Common Dividend
06/10/201508:00:00SoCalGas' Energy Resource Center Celebrates 20th Anniversary;...
06/03/201520:29:00Diverse Coalition Signs Agreement Supporting SDG&E'S Electric...
06/03/201507:24:00Sempra LNG And Woodside Sign Memorandum Of Understanding For...
06/02/201521:16:00More SoCalGas Low-Income Customers Eligible for Bill-Assistance...
06/01/201513:25:00Microgrid Powers Borrego Springs To Avoid Major Outage
05/26/201516:31:00SoCalGas Declares Preferred Dividends
05/21/201511:00:00Sempra U.S. Gas & Power Solar Plant First in U.S. to Receive...
05/20/201517:18:52Current Report Filing (8-k)
05/20/201512:15:10What Is the S&P 500 Index?
05/15/201517:25:45Current Report Filing (8-k)
05/15/201513:40:39Statement of Changes in Beneficial Ownership (4)
05/15/201513:39:47Statement of Changes in Beneficial Ownership (4)
05/15/201513:38:51Statement of Changes in Beneficial Ownership (4)
05/15/201513:38:23Statement of Changes in Beneficial Ownership (4)
05/15/201513:37:26Statement of Changes in Beneficial Ownership (4)

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