Sempra Energy Reports Operating Results (10-Q)

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Nov 06, 2012
Sempra Energy (SRE, Financial) filed Quarterly Report for the period ended 2012-09-30.

Sempra Energy has a market cap of $16.52 billion; its shares were traded at around $68.76 with a P/E ratio of 15.8 and P/S ratio of 1.7. The dividend yield of Sempra Energy stocks is 3.5%. 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 September 30, 2012, Sempra Energy s natural gas revenues decreased by $131 million (14%) to $838 million, and the cost of natural gas decreased by $110 million (34%) to $212 million. The decrease in natural gas revenues included $116 million at SoCalGas and $11 million at SDG&E, primarily due to decreases in commodity costs in 2012.

During the nine months ended September 30, 2012, Sempra Energy s natural gas revenues decreased by $510 million (16%) to $2.8 billion, and the cost of natural gas decreased by $503 million (37%) to $864 million. The decrease in natural gas revenues included $448 million at SoCalGas and $37 million at SDG&E.

During the three months ended September 30, 2012, SDG&E s natural gas revenues decreased by $11 million (10%) to $94 million, and the cost of natural gas sold decreased by $11 million (28%) to $29 million. During the nine months ended September 30, 2012, SDG&E s natural gas revenues decreased by $37 million (9%) to $357 million, and the cost of natural gas decreased by $45 million (26%) to $130 million.

SDG&E s average cost of natural gas for the three months ended September 30, 2012 was $3.90 per thousand cubic feet (Mcf) compared to $5.30 per Mcf for the corresponding period in 2011, a 26-percent decrease of $1.40 per Mcf, resulting in lower revenues and cost of $10 million. For the first nine months of 2012, SDG&E s average cost of natural gas was $3.66 per Mcf compared to $4.96 per Mcf for the corresponding period in 2011, a 26-percent decrease of $1.30 per Mcf, resulting in lower revenues and cost of $46 million.

During the three months ended September 30, 2012, SoCalGas natural gas revenues decreased by $116 million (14%) to $728 million, and the cost of natural gas sold decreased by $92 million (34%) to $175 million. During the nine months ended September 30, 2012, SoCalGas natural gas revenues decreased by $448 million (16%) to $2.3 billion, and the cost of natural gas sold decreased by $430 million (38%) to $703 million.

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