1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We are increasing our Sempra Energy fair value estimate to $136 per share from $132 after the company reported second-quarter earnings of $1.63 compared with $1.71 in the same year-ago period. Management reaffirmed its recently increased 2021 EPS guidance range of $7.75- $8.35 and its 2022 EPS guidance range of $8.10-$8.70, both in line with our expectations. Our narrow moat and stable moat trend remain unchanged.
Sempra Energy serves one of the largest utility customer bases in the United States. It distributes natural gas and electricity in Southern California and owns 80% of Oncor, a transmission and distribution business in Texas. SoCalGas and San Diego Gas & Electric distribute gas to more than 20 million customers, while Oncor serves over 10 million Texas customers. The firm's other affiliates own and operate liquefied natural gas facilities in North America and infrastructure in Mexico.
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