Sempra Energy (SRE) posted strong third quarter results of $1.27 per share, beating the Zacks Consensus Estimate of $1.19 by 8 cents. The company also beat the year-ago earnings per share (EPS) of $1.24 by 3 cents. This is commendable since Sempra Energy had witnessed a steep fall in its topline year-over-year. The upside in earnings came mainly from its commodities-trading joint venture with Royal Bank of Scotland Group Plc. -- RBS Sempra Commodities. Sempra Energy is an energy services holding company involved in the sale, distribution, storage and transportation of natural gas. The company operates through two segments -- Sempra Utilities and Sempra Global. Sempra Utilities consists of two California regulated public utility companies, Southern California Gas Company (SoCalGas) and San Diego Gas & Electric (SDG&E). Sempra Global consists of businesses engaged in providing energy products and services -- Sempra Commodities, Sempra Generation, Sempra Pipelines & ...

Google’s (GOOG) PowerMeter has started a new chapter. When the company first introduced the free electricity monitoring software back in February, usage was limited to those consumers that already had a smart meter. Management has since been in talks with various device makers and utilities in search of a solution.   The company has now announced its agreement with Energy Inc., which is the maker of a power usage measuring device called TED 5000, or “The Energy Detective". The device can be bought at a minimum cost of $200, which can go up to $300, depending on the features selected.   Installation of Google’s PowerMeter software on the device enables consumers to get near-real time information on power consumed. The system can provide information at 10-minute intervals, compared to roughly a day for the smart meter system currently offered by some utilities.   The delay related to utilities ...

A subsidiary of Sempra Energy (SRE) recently became an equal partner of a BP Plc. (BP) unit for developing a 200MW Fowler Ridge II Wind Farm in Benton County, Indiana. 

The Fowler Ridge joint venture is currently under construction on a 17,000-acre site, about 90 miles northwest of Indianapolis and is expected to be operational in the first quarter of fiscal 2010. The 200MW facility will produce enough electricity for nearly 60,000 homes.

The project's entire power output has already been sold under four, long-term 50-MW contracts. Three of these deals were signed with units of American Electric Power (AEP) and one with Vectren Energy Delivery (VVC) of Indiana for 20-year terms each. The project will use 133 wind turbines, each with the ability to generate 1.5 MW.

The Fowler Ridge II development is an expansion of Fowler Ridge I, a 400-MW wind farm that commenced operations

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Today we are featuring top-performing “Utilities" equity mutual funds, which primarily invest in equity securities of utilities companies, including telephone or cable-television firms.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Utilities Equity Funds.

3 Powerful Picks

AIM Utilities Inv (FSTUX) was incepted in June 1986. This non-diversified fund seeks capital growth and income.

The fund primarily invests in equity securities of companies engaged in utilities-related industries. These companies include, but are not limited to, firms that produce, generate, transmit and distribute natural gas or electricity or provide telecommunications services.

The fund’s key holdings include FPL Group (FPL), Sempra Energy (SRE) and Verizon Communications Inc. (VZ).

Fidelity Telecom and Utilities (FIUIX) seeks high total return through a combination of current income and capital appreciation.

The fund normally invests at least 80% of

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Sempra Energy (SRE) posted strong second-quarter results with earnings of $1.06 per share that topped the Zacks Consensus EPS estimate by 11.6% or 11 cents. This is commendable since GAAP EPS fell to eighty cents lower than the year-ago EPS of ninety-eight cents due to an asset write-off charge of twenty-six cents per share.   Sempra Energy is an energy services holding company involved in the sale, distribution, storage and transportation of natural gas. The company operates through two segments – Sempra Utilities and Sempra Global.   Quarterly Results

The Southern California-based company’s revenue, however, declined by a third year-over-year to $1.7 billion due to lower demand in the quarter. The downside came from both Sempra Utilities and Sempra Global.

This, coupled with the asset write-off from the Liberty gas storage project, brought net earnings down by 19%. However, year-ago earnings had included a $37 million gain from the Sempra Commodities

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On Monday, June 29, interim service began on REX East, the eastern section of Kinder Morgan Energy Partners' (KMP) 1,679-mile multi-state Rockies Express Pipeline (REX). With a capacity of 1.6 billion cubic feet per day (Bcf/d), natural gas started flowing on the 444-mile segment of the $6.6 billion pipeline that runs from Audrain County, Missouri, to the Lebanon interconnection point in Warren County, Ohio. Earlier, during May last year, the western section of the pipeline (REX West) came online. The 713-mile pipeline runs from the Cheyenne hub in Weld County, Colorado, to a major delivery point in Brown County, Kansas and has a capacity of 1.5 Bcf/d.

The remaining portion of the 639-mile 42-inch diameter Rex East pipeline, which will end in Clarington, Ohio, is expected to be operational by November 1, 2009. When fully completed, the entire 1,679-mile pipeline will be capable of transporting roughly

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As the economy begins its comeback, the utilities companies that will benefit the most are the ones whose stock prices have suffered for being located in poor housing markets and those with significant counter-party risk. These companies lack the stability an investor looks for in utilities companies during a time of economic hardship. However, as the economy begins its turn around, these investments will once again become attractive. A company that fits the aforementioned profile is Sempra Energy [SRE: 44.25, -0.57 (-1.27%)], a diversified gas utility company based in Southern California. Sempra has two core utility subsidiaries in Southern California Gas (SoCalGas), the largest gas utility in the United States and San Diego Gas & Electric (SDG&E), which serves 3.4 million customers in the San Diego area. Combined, these two entities comprise 60% of Sempra’s revenue stream. The remaining 40% comes from its natural gas infrastructure businesses, which includes ...

For Immediate Release

Chicago, IL - May 14, 2009 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Allegheny Energy, Inc. (AYE), Vivus, Inc. (VVUS), Georgia Gulf Corporation (GGC), Sempra Energy (SRE) and The Medicines Company (MDCO).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579.

Here are highlights from Wednesday's Analyst Blog:

Allegheny Energy Offers Stability

Allegheny Energy, Inc. (AYE) reported financial results for the 1st quarter of 2009.

Adjusted net income for the 1st quarter of 2009 decreased by $22.0 million compared with the year-ago period.

Adjusted operating revenues increased

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Sempra Energy Reports Higher EPS on Lower RevenueSempra Energy (SRE) announced improved financial results for its 1st quarter ended March 31, 2009.Amazingly, the company's mixed results for the quarter yielded significantly improved earnings from a nearly comparable decline in revenues.Revenues for the reported quarter decreased 35.5% to $2.1 billion from $3.3 billion recorded in the earlier-year quarter.Net income for the reported quarter increased 40% to $316 million, or $1.29 per diluted share ($1.31 basic), compared to $242 million, or $0.92 per diluted share ($0.94 basic), in the prior-year quarter.Operating cash flow in the 1st quarter of 2009 increased primarily due to higher net income and positive changes in other working capital components, partially offset by higher equity earnings. Previously, impressive operating and financial results in 2007 and 2008, driven by strong cash flow from non-core asset sales at ...

Today we are featuring top-performing "Utilities" equity mutual funds, which primarily invest in equity securities of utility companies, including telephone and cable-television firms.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Utilities Equity Funds.3 Powerful Picks

Fidelity Select Utilities Portfolio (FSUTX) was incepted in December 1981 and seeks capital appreciation. It is non-diversified.

The fund invests primarily in common stocks of companies in the utilities industry and companies that derive a bulk of their revenue from utility operations. Douglas Simmons has managed this Zacks#1 Rank ("Strong Buy") fund since October 2006. It has an expense ratio of 0.88%.

The fund's top holdings include Exelon Corp. (EXC), Sempra Energy (SRE) and Entergy Corp. (ETR).

American Century Utilities Inv (BULIX) is designed for investors

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