SRE - Sempra Energy

NYSE - NYSE Delayed price. Currency in USD
146.60
-0.20 (-0.14%)
At close: 4:03PM EST

146.60 0.00 (0.00%)
After hours: 4:47PM EST

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Previous close146.80
Open146.82
Bid146.59 x 1000
Ask146.84 x 1100
Day's range146.05 - 147.51
52-week range104.88 - 148.90
Volume915,863
Avg. volume1,520,015
Market cap41.326B
Beta (3Y monthly)0.42
PE ratio (TTM)16.65
EPS (TTM)8.81
Earnings date1 Nov 2019
Forward dividend & yield3.87 (2.64%)
Ex-dividend date2019-09-19
1y target est155.71
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  • Edison Once Again Seeks to Limit Liability From California Fires
    Bloomberg

    Edison Once Again Seeks to Limit Liability From California Fires

    (Bloomberg) -- Edison International once again will try to sway a California state court judge to rule that it can’t be held liable for all the damage to private property caused by a wildfire, if it isn’t allowed to pass on some costs to ratepayers.With this year’s fire season already causing havoc in communities up and down California, Edison is making a preemptive bid to limit its liability from the Woolsey Fire that tore through Malibu last year and destroyed 1,600 structures, including homes of singer Miley Cyrus, rocker Neil Young and actor Gerard Butler. Losses from the fire total $4 billion, according to a CoreLogic Inc. estimate.The hearing Tuesday in downtown Los Angeles comes a week after Edison’s Chief Executive Officer Pedro Pizarro disclosed on an earnings call with investors that county investigators have found that the Woolsey fire was caused by Southern California Edison’s equipment.The finding could leave Edison on the hook for billions of dollars in damages. California’s so-called inverse condemnation doctrine holds utilities 100% responsible for damage caused by their equipment whether or not they were negligent.The same legal principle has driven the state’s biggest utility, Pacific Gas and Electric Co., to file for bankruptcy protection after its equipment was linked to devastating wildfires in Northern California.It’s not the first time Edison has tried to avoid liability for a fire. The utility failed to convince a judge a year ago to dismiss inverse-condemnation claims for the massive 2017 Thomas Fire that scorched parts of Santa Barbara County and Ventura County. That fire was blamed for a subsequent mudslide that destroyed part of the affluent coastal enclave of Montecito. The first trials in both the Woolsey and Thomas Fire litigation are scheduled for next year.The strict liability the utilities face under California law for damage caused by their power lines has become an existential threat to them in recent years as widespread wildfires have become the new normal in the state. It’s become an even more pressing issue after the California Public Utilities Commission refused a request from Sempra Energy’s San Diego Gas & Electric to increase its rate to compensate for payouts over a 2007 wildfire.Sempra’s yearslong fight to overturn the state commission’s decision ended last month when the U.S. Supreme Court declined to take up the case.Inverse-condemnation liability is based on the idea that losses will be spread throughout society, Edison argued in the court filing. That’s something Edison can’t do on its own, the utility said.“Edison’s rates are regulated by the PUC and it lacks the power to control market price,” it said.Lawyers representing the people who lost their homes in the Woolsey Fire predictably weren’t impressed by Edison’s argument and have called it an “improper challenge to established California law and the California constitution” that has failed in all other wildfire lawsuits involving investor-owned utilities.Edison also can’t rely on the PUC’s decision in the Sempra case because each case is different, they said.“As Edison is well aware, that decision has no application outside that proceeding or those particular fires,” the plaintiffs’ lawyers said.What Bloomberg Intelligence SaysEPS in 3Q was hurt by 10 cents due to wildfire-related equity issuance, and 21 cents more from wildfire operating costs. The company is applying to regulators to recover these unauthorized costs, but that may be difficult. The outages now sweeping southern California make recovery potential more difficult.\-- Kit Konolige, Senior Analyst: UtilitiesFor full report click hereThe final investigation report on the causes of the Woolsey Fire hasn’t been made public yet and the company and the plaintiffs’ lawyers have only been given a redacted version. The California Forestry and Fire Protection Department and the Venture County Fire Department have fought requests to turn over the full report because it relates to an ongoing criminal investigation.Southern California Edison isn’t aware of any basis for felony liability related to the fires, Pizzaro said during the Oct. 28 earnings call.The case is Woolsey Fire Cases, JCCP 5000, California Superior Court, County of Los Angeles (Los Angeles).To contact the reporter on this story: Edvard Pettersson in Los Angeles at epettersson@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Sempra Energy (SRE) Beats on Q3 Earnings, Ups '19 EPS View
    Zacks

    Sempra Energy (SRE) Beats on Q3 Earnings, Ups '19 EPS View

    Sempra Energy's (SRE) Q3 revenues of $2,758 million increase 7.5% year over year. The top line, however, misses the Zacks Consensus Estimate by 5.6%.

  • Sempra (SRE) Q3 Earnings Surpass Estimates
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    Sempra (SRE) Q3 Earnings Surpass Estimates

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  • ONEOK (OKE) Posts In-Line Q3 Earnings, Misses on Revenues
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  • Sempra Energy (SRE) to Report Q3 Earnings: What's in Store?
    Zacks

    Sempra Energy (SRE) to Report Q3 Earnings: What's in Store?

    Sempra Energy's (SRE) increased pipeline activities and gains from the Oncor acquisition are likely to have contributed to its bottom line in the third quarter.

  • ONE Gas (OGS) Q3 Earnings Miss Estimates, Revenues Rise Y/Y
    Zacks

    ONE Gas (OGS) Q3 Earnings Miss Estimates, Revenues Rise Y/Y

    ONE Gas' (OGS) third-quarter 2019 results gain from new rates and customer growth.

  • PG&E: As Wildfires Rage On, Investors Get Burned
    Market Realist

    PG&E: As Wildfires Rage On, Investors Get Burned

    PG&E; has disclosed one of its transmission lines malfunctioned just before the Kincade Fire broke out, prompting its stock to fall more than 30% on Friday.

  • Sempra (SRE) Reports Next Week: Wall Street Expects Earnings Growth
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    Sempra (SRE) Reports Next Week: Wall Street Expects Earnings Growth

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  • PG&E Tumbles as California Fires Spreads to its Service Area
    Investing.com

    PG&E Tumbles as California Fires Spreads to its Service Area

    Investing.com - Pacific Gas & Electric Company shared fell on Thursday as a major fire has erupted in part of its service area.

  • Does Sempra Energy (NYSE:SRE) Create Value For Shareholders?
    Simply Wall St.

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  • Sempra Energy to Sell Chilean Stakes, Focus on North America
    Zacks

    Sempra Energy to Sell Chilean Stakes, Focus on North America

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  • Company News for Oct 15, 2019
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    Company News for Oct 15, 2019

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  • Sempra Energy to Sell Peruvian Stakes, Focus on North America
    Zacks

    Sempra Energy to Sell Peruvian Stakes, Focus on North America

    Sempra Energy's (SRE) latest Peruvian business divestments come as part of its planned exit from the South American markets, which was approved by management in January.

  • Did You Miss Sempra Energy's (NYSE:SRE) 34% Share Price Gain?
    Simply Wall St.

    Did You Miss Sempra Energy's (NYSE:SRE) 34% Share Price Gain?

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  • Sempra (SRE) Up 4.4% Since Last Earnings Report: Can It Continue?
    Zacks

    Sempra (SRE) Up 4.4% Since Last Earnings Report: Can It Continue?

    Sempra (SRE) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Sempra Energy' (SRE) Cameron LNG Train 1 Begins Operations
    Zacks

    Sempra Energy' (SRE) Cameron LNG Train 1 Begins Operations

    Sempra Energy (SRE) owns 50.2% equity interest in Cameron LNG JV, which is likely to generate $400-$450 million annual earnings for the company.

  • Oilprice.com

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  • Sempra Energy's (SRE) Subsidiary Launches Biomethane Project
    Zacks

    Sempra Energy's (SRE) Subsidiary Launches Biomethane Project

    The partnership with Electrochaea will enable Sempra Energy's (SRE) subsidiary, SoCalGas, in storing excess renewable energy for long periods with its existing natural gas pipeline infrastructure.