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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
09/30/201606:01:05Current Report Filing (8-k)
09/29/201618:12:00Sempra Energy Records Highest Score On Political Disclosure...
09/29/201609:00:00Sempra Energy's Unit IEnova Awarded Its First Two Solar Energy...
09/27/201619:24:00Sempra Energy Unit IEnova Completes Acquisition Of PEMEX Stake...
09/22/201615:41:00SoCalGas Vice President Gina Orozco-Mejia Receives Latina Corporate...
09/21/201619:00:00Sempra Energy Unit IEnova Receives Approval For Acquisition Of...
09/19/201616:05:00SoCalGas Commends Governor Brown and Senator Ricardo Lara for...
09/15/201612:00:00Sempra Energy Named To Dow Jones Sustainability North America...
09/13/201617:30:00Sempra Energy Announces Executive Appointments
09/13/201617:20:00Southern California Gas Settles With Prosecutor Over Leak
09/13/201617:17:58Current Report Filing (8-k)
09/12/201616:57:00/C O R R E C T I O N -- Southern California Gas Co./
09/12/201616:12:00SoCalGas Successfully Tests Methane Capture System to Reduce...
09/12/201616:01:00Sempra U.S. Gas & Power Closes Sale of Parent Company of Mobile...
09/09/201613:39:00Sempra Energy Declares Common Dividend
09/08/201616:15:00Debra L. Reed Ranked Among Fortune's 'Most Powerful Women In...
09/05/201620:50:00Sempra Unit Buys Mexican Wind Farms
09/05/201614:53:00Sempra Unit Buys Mexican Wind Farms
08/24/201617:48:00SoCalGas Releases New Video Demonstrating Aliso Canyon Storage...
08/18/201618:49:00SDG&E To Add More Energy Storage To Improve Regional Reliability

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