Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Sempra (NYSE: SRE) is a North American energy infrastructure company primarily engaged in regulated utility operations, liquefied natural gas (LNG) infrastructure, and energy-related investments. The company operates at the intersection of natural gas, electricity, and LNG export infrastructure, serving residential, commercial, industrial, and wholesale energy customers. Its core business model emphasizes long-lived, regulated, and contracted assets designed to provide stable cash flows.
Sempra’s primary revenue drivers come from its regulated utilities and LNG infrastructure businesses. The company holds a strategically important position in energy networks that support electricity generation, gas distribution, and global LNG trade. Founded in 1998 through the merger of Pacific Enterprises and Enova Corporation, Sempra evolved from a regional California utility holding company into a diversified energy infrastructure operator with significant exposure to North American and global energy markets.
Business Operations
Sempra operates through three primary business segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. Sempra California includes San Diego Gas & Electric (SDG&E) and Southern California Gas Company (SoCalGas), which provide electric transmission and distribution and natural gas distribution services to millions of customers under regulated frameworks. Sempra Texas Utilities consists of Oncor Electric Delivery Company, one of the largest electric transmission and distribution systems in the United States.
Sempra Infrastructure focuses on LNG export facilities, natural gas pipelines, energy networks, and storage assets, primarily under long-term contracts. Key assets include LNG development projects, natural gas transportation, and storage facilities located in North America. The company generates revenue mainly through regulated utility rates and long-term, fee-based contracts, reducing direct exposure to commodity price volatility.
Strategic Position & Investments
Sempra’s strategic direction centers on expanding energy infrastructure that supports reliability, energy security, and the global energy transition. Growth initiatives include investments in LNG export capacity, transmission infrastructure modernization, and grid resilience projects. The company has pursued capital-intensive, long-duration projects designed to align with regulatory frameworks and contracted revenue models.
Major investments include ongoing development within Sempra Infrastructure, as well as continued capital deployment in utility grid modernization and clean energy-enabling infrastructure. Sempra has completed several portfolio simplifications in recent years, divesting non-core international utility assets to focus on North America and LNG-related growth opportunities. The company is also involved in emerging areas such as lower-carbon fuels, carbon management, and hydrogen-ready infrastructure, where projects are evaluated under regulated or contract-based structures.
Geographic Footprint
Sempra is headquartered in North America, with corporate headquarters in San Diego, California. Its regulated utility operations are concentrated in California and Texas, serving some of the largest and fastest-growing energy markets in the United States. These regions represent the majority of the company’s customer base and regulated asset value.
Internationally, Sempra maintains a significant presence through LNG and energy infrastructure assets in Mexico, where it owns and operates energy networks and export facilities. Through LNG exports and cross-border infrastructure, the company also has commercial reach into global energy markets, particularly in Asia and Europe, where LNG customers are located under long-term supply agreements.
Leadership & Governance
Sempra’s leadership emphasizes disciplined capital allocation, regulatory alignment, and long-term infrastructure development. The company follows a governance framework designed to support stable earnings growth, risk management, and compliance with regulatory and environmental standards. Strategic vision is centered on infrastructure-led growth supporting energy security and decarbonization pathways.
Key executives include:
- Jeffrey W. Martin – Chairman and Chief Executive Officer
- Karen L. Sedrick – Executive Vice President and Chief Financial Officer
- Justin C. Bird – Executive Vice President and Chief Operating Officer
- James F. Wood – Executive Vice President and Chief Legal Officer
- Trevor Mihalik – Executive Vice President, Corporate Development and Capital Allocation
The leadership team collectively brings experience across regulated utilities, infrastructure finance, legal governance, and large-scale energy project development.