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Sempra Energy SRE

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Sempra Sells 10% of Infrastructure Business to Abu Dhabi Investment Authority; Raising FVE to $136

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA |

We are increasing our fair value estimate for Sempra Energy to $136 per share from $134 after the company announced that it has agreed to sell a noncontrolling 10% interest in Sempra Infrastructure Partners for $1.785 billion in cash to Abu Dhabi Investment Authority. Our narrow moat and stable trend ratings are unchanged.

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Company Profile

Business Description

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 more than 10 million Texas customers. The firm's other affiliates own and operate liquefied natural gas facilities in North America and infrastructure in Mexico.

Contact
488 8th Avenue
San Diego, CA, 92101
T +1 619 696-2000
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type High Yield
Employees 27,152

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