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BUSINESS
March 31, 2000 | Reuters
* Sempra Energy, San Diego-based parent of the nation's largest natural gas distribution utility, plans to increase deregulated retail sales of gas and electricity to account for a third of the company's earnings by 2003. In 1999, the company's two big utility subsidiaries, Southern California Gas Co., based in Rosemead, and San Diego Gas & Electric Co., accounted for 95% of total profit.
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BUSINESS
March 31, 2014
The company: Sempra Energy Headquarters: San Diego Ticker: SRE Leadership: Debra L. Reed, chief executive since 2011 2013 revenue: $10.6 billion 2013 net income: $1 billion Stock price: $95.75 at Friday's close 52-week range: $77.49 to $97.48 P/E ratio: 21, based on estimated 2014 earnings Quarterly dividend: 66 cents a share, a current yield of 2.8%
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BUSINESS
June 15, 2006 | Elizabeth Douglass
San Diego County Superior Court Judge Ronald Prager gave final approval to a nearly $1.8-billion settlement with Sempra Energy over allegations that it conspired to restrict natural gas supplies and raise prices during the state's energy crisis. Sempra, which owns utilities Southern California Gas Co. and San Diego Gas & Electric Co.
BUSINESS
March 30, 2014 | By Stuart Pfeifer
Most people may take natural gas for granted. It fuels the flame on your stove, fires your furnace. It's there when you need it. For Sempra Energy, natural gas is big business. The San Diego company owns Southern California Gas Co., the nation's largest natural gas distribution company, and San Diego Gas & Electric, one of the largest publicly owned power companies in the country. Sempra reported net income of $1 billion last year on revenue of $10.6 billion. It has 17,000 employees worldwide and provides energy to more than 30 million people.
BUSINESS
March 30, 2014 | By Stuart Pfeifer
Most people may take natural gas for granted. It fuels the flame on your stove, fires your furnace. It's there when you need it. For Sempra Energy, natural gas is big business. The San Diego company owns Southern California Gas Co., the nation's largest natural gas distribution company, and San Diego Gas & Electric, one of the largest publicly owned power companies in the country. Sempra reported net income of $1 billion last year on revenue of $10.6 billion. It has 17,000 employees worldwide and provides energy to more than 30 million people.
BUSINESS
June 4, 2004 | From Bloomberg News
Sempra Energy, owner of the largest U.S. natural gas utility, raised its 2004 profit forecast by 20 cents a share because of an expected surge in energy trading income. Profit, excluding unusual items, will rise to $2.90 to $3.10 a share this year from an earlier forecast of $2.70 to $2.90, Sempra said. On that basis, the San Diego-based company earned $2.93 a share in 2003 and was expected to earn $2.86 this year, Thomson First Call said.
BUSINESS
March 28, 2006 | From Bloomberg News
Honeywell International Inc. agreed to buy the energy-services unit of Sempra Energy as companies look for ways to cut electricity and gas costs, the companies said Monday. Terms of the deal weren't disclosed. The energy-services group helps government, healthcare facilities, colleges and businesses reduce energy costs, said San Diego-based Sempra, parent of Southern California Gas Co. and San Diego Gas & Electric Co.
BUSINESS
February 23, 1999 | NANCY RIVERA BROOKS, energy reporter
The new electricity marketplace will be full of opportunities, and here's a particularly interesting one: Sempra Energy Corp. has found a way to make money not only on the customers it wins, but also on the customers it loses. Sempra's Los Angeles-based natural gas utility, Southern California Gas Co., has expanded its gas-purchasing Web site (http://www.energymarketplace.
BUSINESS
May 19, 2006 | From Bloomberg News
Sempra Energy, the largest U.S. natural gas utility operator, will consider spinning off or selling its commodities-trading unit to become more attractive to investors, Chief Executive Donald Felsinger said. Any decision is at least two years away, Felsinger said in an interview. By that time, investments in liquefied natural gas terminals and pipelines that Sempra is building will begin generating cash and the San Diego-based company will have more options, he said.
BUSINESS
February 23, 2005 | From Bloomberg News
Sempra Energy, owner of the largest natural gas utility in the U.S., announced a 16% dividend increase, the first boost to shareholder payouts since the company was formed in 1998. Quarterly dividends will increase to 29 cents from 25 cents, starting with payments on April 15 to shareholders of record as of March 24, San Diego-based Sempra said in a statement. Dividends will rise 3% to 4% annually in future years, the company said.
BUSINESS
February 28, 2014 | By Ricardo Lopez
Dennis V. Arriola, the son of Mexican immigrants who first settled in a trailer home in Compton, has been named chief executive of Southern California Gas Co. The 53-year-old becomes the company's first Latino chief executive, taking the helm of the largest natural-gas distribution firm in the country. Arriola will oversee a utility that had $364 million in earnings last year, up from $289 million in 2012. The company, a subsidiary of Sempra Energy, serves nearly 21 million customers through 5.8 million meters at homes and businesses.
BUSINESS
June 1, 2012 | By Ronald D. White
Anne Shen Smith has been elected president and chief executive of Southern California Gas Co., which is a subsidiary of Sempra Energy, the company announced today. Smith, who had been serving as SoCalGas' chief operating officer, is succeeding Michael W. Allman, who has resigned and will be leaving the company. "We are pleased to have a deep management team with an outstanding leader like Anne Smith who can step into the CEO role at SoCalGas," said Debra L. Reed, Sempra Energy's chief executive.
BUSINESS
April 29, 2010 | By Marc Lifsher, Los Angeles Times
Sempra Energy has agreed to pay $400 million to settle accusations that the San Diego energy company engaged in "Enron-style gaming" of power markets and "a pervasive pattern of market manipulation and abuse" during the California energy crisis of 2000 and 2001. The money will reimburse electricity ratepayers at the state's three big investor-owned utilities: Southern California Edison Co., Pacific Gas & Electric Co. and San Diego Gas & Electric Co., which is a Sempra subsidiary.
BUSINESS
February 17, 2010 | By Nathaniel Popper
Like other giant banks, JPMorgan Chase & Co. has been criticized for being "too big to fail." But that isn't stopping the company from getting even bigger. The country's second-largest bank said Tuesday that it had agreed to buy, for $1.7 billion, part of a commodity trading business jointly owned by San Diego-based Sempra Energy and Royal Bank of Scotland. The acquisition comes as President Obama and former Federal Reserve chief Paul Volcker have been pushing a proposal to make banks like JPMorgan smaller.
BUSINESS
January 21, 2010
AIRLINES American posts loss of $344 million American Airlines ended 2009 with a loss and 2010 could have a rocky start if the carrier loses a key partner in Asia. AMR Corp., parent of American, says it lost $344 million in the fourth quarter as traffic fell and many business travelers stayed home or bought cheaper tickets. Now American is scrambling to hold on to a valuable partnership with Japan Airlines. JAL filed for bankruptcy protection Tuesday, and news reports in Japan say the airline wants to dump American and form a partnership with Delta Air Lines Inc. INSURANCE General Re to settle charges General Re Corp.
CALIFORNIA | LOCAL
November 3, 2009 | Patrick McGreevy
Former Assemblyman Michael Duvall of Yorba Linda will not face any federal charges after an FBI investigation into his comments, made over an open microphone, that he had a sexual relationship with a woman who was believed to be a Sempra Energy lobbyist, officials announced today. In response, Sempra Energy said it has reinstated the lobbyist to active status as an employee. Lobbyist Heidi Barsuglia issued a statement saying, "This experience has been a professional and personal nightmare.
BUSINESS
May 3, 2007 | Elizabeth Douglass, Times Staff Writer
Utility owner Sempra Energy said Wednesday that its first-quarter earnings fell 11% and missed Wall Street expectations but blamed the shortfall on accounting rules that cut into commodities trading profit. Despite the profit slide, Sempra Chief Executive Don Felsinger said he was pleased with the results. He declared that San Diego-based Sempra, which owns Southern California Gas Co. and San Diego Gas & Electric Co., was on track to meet its full-year earnings estimate of $3.75 to $3.
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