Daily Brief Utilities: Sempra Energy and more

• Sempra Energy (NYSE: SRE) presents institutional investors with a premier hybrid utility and energy infrastructure platform, combining high-quality regulated transmission and distribution (T&D) utilities in premier growth corridors (California and Texas) with globally strategic LNG export infrastructure.
• The company is uniquely positioned to capture unprecedented electricity demand growth driven by data center expansion, artificial intelligence workloads, and industrial onshoring across Texas via its majority-owned Oncor utility franchise, underpinning a multi-year $13+ billion capital deployment plan.
• While multi-year growth fundamentals and regulatory support remain robust, heavy ongoing capital expenditures have driven Free Cash Flow into negative territory (-$6,047 million in 2025), necessitating disciplined balance sheet stewardship and execution amidst elevated interest rate environments.

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