So I was looking at my portfolio today [not managed by me] and I noticed 1 stock was down more than the remainder [over 100] of the portfolio.
SEMPRA energy was down 20%. i looked up SEMPRA which controls SoCal Gas and SDGE both Southern California utilities.
I looked up the SEMPRA policy statement
SEMPRA is focused on electrification, decarbonization and new technologies. They are focused on new batteries, electric vehicles, hydrogen, and reducing fugitive methane gas.
The reason the stock dropped was they missed their 4th quarter earnings by 15% which was the 4th straight quarter of missed earnings. Public utilities are regulated and there profits are usually easy to predict thus they are usually not volatile and thus pay good dividends. Missing earnings by 15% shows is huge and shows they are way ahead[ or behind] themselves on the success of electrification/decarbonization.
SEMPRA energy was down 20%. i looked up SEMPRA which controls SoCal Gas and SDGE both Southern California utilities.
I looked up the SEMPRA policy statement
SEMPRA is focused on electrification, decarbonization and new technologies. They are focused on new batteries, electric vehicles, hydrogen, and reducing fugitive methane gas.
The reason the stock dropped was they missed their 4th quarter earnings by 15% which was the 4th straight quarter of missed earnings. Public utilities are regulated and there profits are usually easy to predict thus they are usually not volatile and thus pay good dividends. Missing earnings by 15% shows is huge and shows they are way ahead[ or behind] themselves on the success of electrification/decarbonization.
