1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
We are maintaining our $132 per share fair value estimate and stable, narrow moat ratings for Sempra Energy after the company reported first-quarter earnings of $2.95 per share compared with $2.47 in the same year-ago period. Management reaffirmed its 2021 EPS guidance of $7.50 to $8.10, in line with our expectations.
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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