October 10, 2017 - 7:20 AM EDT
Print Email Article Font Down Font Up Charts

Featured Company News - Sempra's IEnova Acquires Pemex's Participation in Los Ramones II Norte Pipeline

Research Desk Line-up: 8point3 Energy Partners Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 10, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sempra Energy (NYSE: SRE) ("Sempra"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SRE. The Company announced on October 06, 2017, that its Mexican subsidiary, Infraestructura Energetica Nova, S.A.B. de C.V. (BMV: IENOVA) ("IEnova"), has taken over the participation of Pemex Transformación Industrial ("Pemex") in the Ductos y Energeticos del Norte. As a result of this acquisition, IEnova would increase its indirect participation in the Los Ramones II Norte pipeline from 25% to 50%. For immediate access to our complimentary reports, including today's coverage, register for free now at:


Discover more of our free reports coverage from other companies within the Diversified Utilities industry. Pro-TD has currently selected 8point3 Energy Partners LP (NASDAQ: CAFD) for due-diligence and potential coverage as the Company announced on October 04, 2017, its financial results for Q3 FY17 which ended on August 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on 8point3 Energy Partners when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SRE; also brushing on CAFD. Go directly to your stock of interest and access today's free coverage at:



San Diego-based Sempra, a Fortune 500 energy services holding Company, reported revenues of over $10 billion in 2016. The Sempra Energy Companies employ over 16,000 employees who serve around 32 million consumers worldwide.

Total Consideration for the Transaction

  • As per the agreement, IEnova has agreed to acquire Pemex's stake in the Los Ramones II Norte pipeline for $231 million, in addition to the assumption of $289 million in debt, which signifies Pemex's share of the outstanding debt in the pipeline.

About the Los Ramones II Norte Pipeline

  • The Los Ramones II Norte Pipeline is approximately 452 km long and 42-inch wide. The pipeline, which commenced operations in February 2016, transports natural gas from Nuevo Leon to San Luis Potosi.
  • The pipeline has a designated transportation capacity of 1,420 billion cubic feet per day. It runs through two compressor stations. Los Ramones II Norte interconnects with the Los Ramones I pipeline and the Los Ramones II Sur pipeline in Central Mexico.

Transaction Closing Details

  • As of now, the transaction is subject to customary post-closing adjustments included in the purchase and sale agreement.
  • The required authorizations including approval from Mexico's Federal Antitrust Commission is also pending.
  • It is anticipated that the transaction would close in the fourth quarter of the fiscal year 2017, once the authorizations are obtained.

Update on the Oncor Acquisition

On August 20, 2017, Sempra announced that it had entered into an agreement to acquire Energy Future Holdings Corp. ("Energy Future"), which is the indirect owner of 80% of Oncor Electric Delivery Co., LLC ("Oncor"), operator of the largest electric transmission and distribution system in Texas.

Total consideration for the transaction

As per the agreement, Sempra will pay nearly $9.45 billion in cash to acquire Energy Future and its ownership in Oncor. This is a critical step towards resolving Energy Future's long-running bankruptcy case. The enterprise value of the transaction has been estimated at $18.8 billion, including the assumption of Oncor's debt.

Leadership comments about the transaction

Debra L. Reed, Chairman, President, and Chief Executive Officer (CEO) at Sempra, highlighted that Oncor is an excellent strategic fit for Sempra's portfolio of utility and energy infrastructure businesses. This move would help Sempra ensure that Texas utility customers continue to get the exceptional electric service they have come to expect from Oncor over the years.

Update about Change-in-Control application

On October 04, 2017, both Oncor and Sempra revealed that they expected to jointly file a Change-in-Control application with the Public Utility Commission of Texas (PUCT) on October 05, 2017. The filing is also an important step in the regulatory review process for Sempra's agreement to acquire Energy Future. The application comprises 47 regulatory commitments and a new financing structure, under which Sempra now intends to acquire 100% of Energy Future with no third-party equity investors or Energy Future debt.

Last Close Stock Review

At the closing bell, on Monday, October 09, 2017, Sempra Energy's stock marginally climbed 0.61%, ending the trading session at $112.63. A total volume of 1.02 million shares have exchanged hands, which was higher than the 3-month average volume of 990.33 thousand shares. The Company's stock price advanced 1.59% in the last three months, 1.79% in the past six months, and 9.71% in the previous twelve months. Moreover, the stock rallied 11.91% since the start of the year. The stock is trading at a PE ratio of 16.64 and has a dividend yield of 2.92%. The stock currently has a market cap of $28.92 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email [email protected]. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: [email protected]

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

Source: ACCESSWIRE Investor Awareness (October 10, 2017 - 7:20 AM EDT)

News by QuoteMedia

Legal Notice