Docoh
Loading...

SRE Sempra Energy

Sempra Energy's mission is to be North America's premier energy infrastructure company. With more than $60 billion in total assets at the end of 2019, the San Diego-based company is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' more than 18,000 employees deliver energy with purpose to over 35 million consumers. The company is focused on the most attractive markets in North America, including California, Texas, Mexico and the LNG export market. Sempra Energy has been consistently recognized for its leadership in sustainability, and diversity and inclusion, and is a member of the S&P 500 Utilities Index and the Dow Jones Utility Index. The company was also named one of the "World's Most Admired Companies" for 2020 by Fortune Magazine.

Company profile

Ticker
SRE, SREA
Exchange
Website
CEO
Jeffrey Martin
Employees
Incorporated
Location
Fiscal year end
Former names
MINERAL ENERGY CO
SEC CIK
IRS number
330732627

SRE stock data

(
)

Calendar

5 May 21
27 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 725M 725M 725M 725M 725M 725M
Cash burn (monthly) 78.33M 144.08M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 304.18M 559.49M n/a n/a n/a n/a
Cash remaining 420.82M 165.51M n/a n/a n/a n/a
Runway (months of cash) 5.4 1.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 Boeckmann Alan L Phantom Shares Common Stock Grant Aquire A No No 134.09 265.16 35.56K 24,757.13
1 Jul 21 Conesa Andres Phantom Shares Common Stock Grant Aquire A No No 134.09 93.22 12.5K 3,529.13
1 Jul 21 Ferrero Pablo Phantom Shares Common Stock Grant Aquire A No No 134.09 93.22 12.5K 4,005.49
1 Jul 21 Contreras-Sweet Maria Phantom Shares Common Stock Grant Aquire A No No 134.09 93.22 12.5K 2,839.13
1 Jul 21 Mayer Bethany Phantom Shares Common Stock Grant Aquire A No No 134.09 316.95 42.5K 3,178.1

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

84.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 787 815 -3.4%
Opened positions 88 127 -30.7%
Closed positions 116 89 +30.3%
Increased positions 328 258 +27.1%
Reduced positions 217 287 -24.4%
13F shares
Current Prev Q Change
Total value 33.71B 31.4B +7.4%
Total shares 254.36M 246.6M +3.1%
Total puts 355.3K 952.55K -62.7%
Total calls 709.9K 1.27M -44.2%
Total put/call ratio 0.5 0.7 -33.1%
Largest owners
Shares Value Change
TROW T. Rowe Price 26.44M $3.51B +13.2%
Vanguard 25.5M $3.38B +2.2%
BLK Blackrock 24.42M $3.24B +19.8%
Capital International Investors 20.17M $2.67B +12.0%
STT State Street 16.16M $2.16B +2.9%
Wellington Management 11.47M $1.52B +7.3%
Newport Trust 8.26M $1.1B -1.4%
DB Deutsche Bank AG - Registered Shares 5.33M $706.13M -7.0%
BEN Franklin Resources 5.2M $689.74M +10.6%
Geode Capital Management 4.45M $588.09M +6.6%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -7.47M EXIT
BLK Blackrock 24.42M +4.04M +19.8%
TROW T. Rowe Price 26.44M +3.08M +13.2%
Capital International Investors 20.17M +2.16M +12.0%
Citadel Advisors 1.08M -992.02K -47.8%
Millennium Management 194.59K -936.52K -82.8%
FMR 4.42M +800.43K +22.1%
GS Goldman Sachs 1.64M -792.4K -32.6%
Wellington Management 11.47M +776K +7.3%
Pendal 1.64M +768.29K +87.7%

Financial report summary

?
Risks
  • Sempra Energy’s cash flows, ability to pay dividends and ability to meet its debt obligations largely depend on the performance of its subsidiaries and entities that are accounted for as equity method investments, such as Oncor Holdings and Cameron LNG JV.
  • Sempra Energy has substantial investments in and obligations arising from businesses that it does not control or manage or in which it shares control.
  • Our business could be negatively affected as a result of actions of activist shareholders.
  • Any impairment of our assets could negatively impact our consolidated results of operations and net worth.
  • The economic interest, voting rights and market value of our outstanding common and preferred stock may be adversely affected by any additional equity securities we may issue and, with respect to our common stock, by our outstanding preferred stock.
  • Dividend requirements associated with our preferred stock subject us to certain risks.
  • Our businesses face risks related to the COVID-19 pandemic.
  • Severe weather conditions, natural disasters, pandemics, accidents, equipment failures, explosions or acts of terrorism could materially adversely affect our businesses, financial condition, results of operations, cash flows and/or prospects.
  • The operation of our facilities depends on good labor relations with our employees.
  • In addition to general information risks and cyber risks that all large corporations face (e.g. malware, general cyber- or phishing-attacks by outsiders, malicious intent by insiders and inadvertent disclosure of sensitive information), we face evolving cybersecurity risks associated with protecting sensitive and confidential customer and employee information, smart grid infrastructure, and natural gas pipeline and storage infrastructure.
  • The substantial debt service obligations of Sempra Energy, SDG&E and SoCalGas could have a material adverse effect on our results of operations, cash flows, financial condition and/or prospects, and with respect to Sempra Energy, could require additional equity securities issuances.
  • Certain credit rating agencies may downgrade our credit ratings or place those ratings on negative outlook.
  • We cannot and do not attempt to fully hedge our assets or contract positions against changes in commodity prices, and for those contract positions that are hedged, our hedging procedures may not mitigate our risk as planned.
  • Market performance or changes in other assumptions could require significant unplanned contributions to pension and other postretirement benefit plans.
  • Our businesses are subject to governmental regulations and tax and accounting requirements and may be materially adversely affected by these regulations or requirements or any changes to them.
  • Our businesses require numerous permits, licenses, franchises, and other approvals and agreements from various federal, state, local and foreign governmental agencies, and the failure to obtain or maintain any of them could materially adversely affect our businesses, cash flows, financial condition, results of operations and/or prospects.
  • Our businesses, results of operations, financial condition and/or cash flows may be materially adversely affected by the outcome of litigation or other proceedings in which we are involved.
  • The California Utilities are subject to risks arising from the operation, maintenance and upgrade of their natural gas and electricity infrastructure and information technology systems, which, if they materialize, could materially and adversely affect Sempra Energy’s and the California Utilities’ financial results.
  • Wildfires in California pose a significant risk to the California Utilities’ (particularly SDG&E’s) and Sempra Energy’s business, financial condition, results of operations and/or cash flows.
  • The electricity industry is undergoing significant change, including increased deployment of distributed energy resources, technological advancements, and political and regulatory developments.
  • Natural gas and natural gas storage have increasingly been the subject of political and public scrutiny, including a desire by some to substantially reduce or eliminate reliance on natural gas as an energy source.
  • SDG&E may incur substantial costs and liabilities as a result of its partial ownership of a nuclear facility that is being decommissioned.
  • The California Utilities are subject to extensive regulation by state, federal and local legislative and regulatory authorities, which may materially adversely affect us.
  • SoCalGas has incurred and may continue to incur significant costs, expenses and other liabilities related to the Leak, a substantial portion of which may not be recoverable through insurance.
  • The failure by the CPUC to adequately reform SDG&E’s rate structure, including the implementation of charges independent of consumption volume and measures to reduce NEM rate subsidies, could have a material adverse effect on SDG&E’s and Sempra Energy’s business, cash flows, financial condition, results of operations and/or prospects.
  • Certain ring-fencing measures, governance mechanisms and commitments limit our ability to influence the management and policies of Oncor.
  • Changes in the electric utility industry, including changes in regulation of ERCOT, could materially adversely affect Oncor’s results of operations, cash flows, financial condition and/or prospects, which could materially adversely affect us.
  • Oncor’s operations are capital intensive and it could have liquidity needs that necessitate additional investments in Oncor.
  • Sempra Energy could incur substantial tax liabilities if EFH’s 2016 spin-off of Vistra from EFH is deemed to be taxable.
  • Domestic and international hydraulic fracturing operations are subject to political, economic and other uncertainties that could increase the costs of doing business, impose additional operating restrictions or delays, and adversely affect production of LNG and reduce or eliminate LNG export opportunities and demand.
  • When our businesses enter into fixed-price long-term contracts to provide services or commodities, they are exposed to inflationary pressures such as rising commodity prices and interest rate risks.
  • Increased competition could materially adversely affect us.
  • We may not be able to enter into, maintain, extend or replace expiring long-term supply and sales agreements or long-term firm capacity agreements for our projects.
  • Our businesses depend on the performance of counterparties, including with respect to long-term supply, sales and capacity agreements, and any failure by these parties to perform could result in substantial expenses and business
  • We rely on transportation assets and services, much of which we do not own or control, to deliver natural gas and electricity.
  • Our international businesses and operations expose us to legal, tax, economic, geopolitical, management oversight, foreign currency and inflation risks and challenges.
  • Our businesses are exposed to market risks, including fluctuations in commodity prices, and our businesses, financial condition, results of operations, cash flows and/or prospects may be materially adversely affected by these risks.
  • Our businesses are subject to various legal actions challenging our property rights and permits, and our properties in Mexico could be subject to expropriation by the Mexican government.
  • Our ability to complete our proposed IEnova exchange offer is subject to various conditions and other risks and uncertainties that could cause the transaction to be abandoned, delayed or restructured, which could materially adversely affect us.
  • The proposed exchange offer, if completed, may not have the positive effects we anticipate, which may negatively affect the market price of our common stock, preferred stock and debt securities.
  • We expect to issue shares of our common stock in the proposed exchange offer, which would dilute the voting interests and could dilute the economic interests of our current shareholders and may adversely affect the market value of our common stock and preferred stock.
  • The proposed exchange offer, if completed, would subject us to additional regulation and liability in Mexico.
  • Our proposed transaction related to Sempra Infrastructure Partners is subject to a number of risks and uncertainties.
Management Discussion
  • ▪Impact of foreign currency and inflation rates on our results of operations.
  • In the three months ended March 31, 2021, we reported earnings of $874 million and diluted EPS of $2.87 compared to earnings of $760 million and diluted EPS of $2.53 for the same period in 2020. The change in diluted EPS in the three months ended March 31, 2021 compared to the same period in 2020 included an increase of $0.05 due to a decrease in weighted-average common shares outstanding. Our earnings and diluted EPS were impacted by variances discussed in “Segment Results” below.
  • This section presents earnings (losses) by Sempra Energy segment, as well as Parent and other and discontinued operations, and a related discussion of the changes in segment earnings (losses). Throughout the MD&A, our reference to earnings represents earnings attributable to common shares. Variance amounts presented are the after-tax earnings impact (based on applicable statutory tax rates), unless otherwise noted, and before NCI, where applicable.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: abandoned, accommodation, analyzing, Attn, automation, Avenue, Bancaria, battery, bid, BMV, Bolsa, calendar, cnbv, commensurate, compound, conflict, Council, danger, decree, digital, disbursed, downstream, EE, enterprise, ERCOT, ERP, foreseen, formation, Guadalajara, holder, illegally, indemnify, indemnity, inventory, judicial, KKR, Kohlberg, launched, lifted, Likewise, Mexicana, midstream, moratorium, multiplied, MW, noncore, nonfinancial, occasion, OSC, owed, Pinnacle, POD, political, population, PPA, pro, promulgation, qualification, quantity, rata, ratepayer, ready, recourse, registration, reorganization, resource, restated, revoke, Saavi, Secretary, smuggling, solicitation, statewide, subset, suggested, Talent, Technip, threaten, timeframe, turn, undertaken, unilaterally, unissued, unlawful, user, Valero, website
Removed: absenteeism, accept, accepting, accessibility, accrual, activated, actively, administered, Administration, advice, allocate, allocating, alter, amortizing, AMT, applied, applying, ArcLight, assertion, assessing, attorney, attributed, augment, avoid, Baa, Bay, Benjamin, bond, borrowed, bringing, cancellation, capability, CARB, cessation, charged, China, clarify, commencing, communicating, compact, comprehensive, concentration, consisted, contending, contest, contingent, continuity, contracting, convert, CPPMA, creation, custody, customarily, decline, decommissioned, deconsolidated, deconsolidation, deferring, derive, designation, deteriorate, disaster, discontinuation, disease, disposing, disregard, DOGGR, Donald, drew, employer, enactment, enforce, entering, estimating, evolve, exceeding, expert, face, Facilitation, facing, fine, formal, gain, Geologic, Geothermal, goodwill, hardship, headroom, highest, Hill, historic, Hongkong, Hub, Hunt, impacting, InfraREIT, inject, injection, insignificant, intensive, intraperiod, IRS, ISFSI, issuing, Japan, jeopardize, larger, licensed, maturing, membership, Mesa, misdemeanor, Mississippi, mortgage, NOL, nonperformance, objected, observed, officially, opted, optional, Organization, Otay, outbreak, overseen, oversight, payroll, people, pleading, posed, precautionary, preemptive, prepaid, productivity, profitability, profitable, propose, prospective, prospectively, prove, pursuit, qualified, reassessment, reauthorized, redeploy, reimburse, reimbursed, remanded, remeasurement, remotely, repay, replacement, represented, repurchased, requiring, responsive, restored, restricting, sanitary, sanitization, shift, Simplifying, slowdown, southeast, spending, stability, standardized, stemming, step, supplier, surge, sustain, sweeping, TechnipFMC, test, text, threat, train, transporting, travel, Trump, TTHC, TTI, unclear, underwriting, unemployment, unforeseen, uninterrupted, updated, upward, utilization, vacate, virtualization, voluntarily, Waste, widespread, workforce, world, worldwide, Yangtze