|Bid||129.49 x 800|
|Ask||129.53 x 800|
|Day's range||128.36 - 130.40|
|52-week range||88.00 - 161.87|
|Beta (5Y monthly)||0.71|
|PE ratio (TTM)||8.91|
|Earnings date||05 Nov 2020|
|Forward dividend & yield||4.18 (3.27%)|
|Ex-dividend date||24 Sep 2020|
|1y target est||143.81|
Sempra (SRE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- An already turbulent hurricane season is poised to deliver the third blow in just six weeks to the pandemic-battered natural gas export and chemical industries along the U.S. Gulf Coast.Hurricane Delta has strengthened into a Category 3 storm as it barrels across the Gulf of Mexico on a course for Cameron Parish, Louisiana, a nexus of gas exporters and petrochemical plants. Delta will be the 10th named storm to hit the American mainland in a hyperactive hurricane season when it crashes ashore on Friday evening.Fueled by booming shale extraction that flooded the region with inexpensive gas, the coastline of Louisiana and southeast Texas is home to two of the nation’s six liquefied gas export terminals, as well as a quarter of U.S. oil-refining capacity and half the continent’s output of ethylene used in plastics, according to Independent Commodity Intelligence Services.Rapid investment in new and expanded petrochemical capacity during the past decade has delivered good-paying jobs to an impoverished, mostly agricultural region. But with that has come increased risks to life, limb and the environment.“It is very clear that southwest Louisiana is going to get more of a punch from this than we would like to see,” Louisiana Governor John Bel Edwards told reporters during a media briefing.On its current track, Delta will clip Cheniere Energy Inc.’s Sabine Pass LNG terminal, the largest in the U.S., as well as Sempra Energy’s Cameron LNG facility. Both complexes are still at varying stages of recovery from Hurricane Laura in late August and Tropical Storm Beta in September.Knocked out of service by Laura, Cameron LNG has now shut down for a second time in six weeks, the company said Thursday. The closure came one day after the three-unit facility made its first drops of liquefied gas since the Category 4 storm cut across a vast swath of southwest Louisiana.Force MajeureSempra declared a force majeure event on the Cameron Interstate Pipeline, which feeds its Cameron LNG plant. Gas flows to Cameron were down by 98% as of Thursday afternoon, according to a Bloomberg NEF estimate.Meanwhile, Kinder Morgan Inc. declared a force majeure event and shut down Louisiana Line, one of eight pipe networks that supply Cheniere’s LNG complex. Gas flows to the Cheniere facility fell 13% on Wednesday and another 13% by Thursday afternoon, Bloomberg NEF estimates show.Cheniere plans to use a skeleton crew to continue operations, the company said in a email.What Bloomberg Intelligence Says“Hurricane Delta’s impact on U.S. LNG exports should be temporary as vessels avoid the storm and cargo loadings are delayed, in our view, but Sempra’s Cameron facility could take longer to restart.”\-- Talon Custer, BI analystRead the research here.The Sabine Pass plant enjoys an advantage over Cameron during major storms in that it’s self-sufficient in electricity supplies. The liquefaction plant and its docks were able to return to service within a week after Laura.Almost half a dozen LNG tankers that had been anchored in the Gulf of Mexico awaiting access to Sabine Pass or Cameron moved to safer waters late Wednesday, according to data compiled by Bloomberg.This storm season has added to the woes of U.S. LNG producers already battered by coronavirus lockdowns that curbed global gas demand. As a result of that slump, there were more than 110 canceled LNG cargoes through the summer season, data intelligence firm Kpler reported.(Updates storm’s strength in second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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