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Sempra Energy Reports Operating Results (10-Q)

August 02, 2012 | About:

Sempra Energy (NYSE:SRE) filed Quarterly Report for the period ended 2012-06-30.

Sempra Energy has a market cap of $17.08 billion; its shares were traded at around $69.23 with a P/E ratio of 16.2 and P/S ratio of 1.7. The dividend yield of Sempra Energy stocks is 3.4%. Sempra Energy had an annual average earning growth of 3.2% over the past 10 years.

Highlight of Business Operations:

During the three months ended June 30, 2012, Sempra Energy s natural gas revenues decreased by $179 million (18%) to $837 million, and the cost of natural gas decreased by $182 million (45%) to $221 million. The decrease in natural gas revenues included $156 million at SoCalGas and $14 million at SDG&E, primarily due to decreases in commodity costs in 2012.

During the six months ended June 30, 2012, Sempra Energy s natural gas revenues decreased by $379 million (16%) to $1.9 billion, and the cost of natural gas decreased by $393 million (38%) to $652 million. The decrease in natural gas revenues was primarily attributable to $332 million at SoCalGas and $26 million at SDG&E.

During the three months ended June 30, 2012, SDG&E s natural gas revenues decreased by $14 million (12%) to $100 million, and the cost of natural gas sold decreased by $18 million (35%) to $34 million. During the six months ended June 30, 2012, SDG&E s natural gas revenues decreased by $26 million (9%) to $263 million, and the cost of natural gas decreased by $34 million (25%) to $101 million.

SDG&E s average cost of natural gas for the three months ended June 30, 2012 was $3.11 per thousand cubic feet (Mcf) compared to $4.90 per Mcf for the corresponding period in 2011, a 37-percent decrease of $1.79 per Mcf, resulting in lower revenues and cost of $20 million. For the first six months of 2012, SDG&E s average cost of natural gas was $3.60 per Mcf compared to $4.86 per Mcf for the corresponding period in 2011, a 26-percent decrease of $1.26 per Mcf, resulting in lower revenues and cost of $35 million.

During the three months ended June 30, 2012, SoCalGas natural gas revenues decreased by $156 million (18%) to $720 million, and the cost of natural gas sold decreased by $156 million (47%) to $179 million. During the six months ended June 30, 2012, SoCalGas natural gas revenues decreased by $332 million (17%) to $1.6 billion, and the cost of natural gas sold decreased by $338 million (39%) to $528 million.

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