Sempra forecasts profit gain in ’09
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Sempra Energy, owner of the largest U.S. natural-gas utility, expects 2009 per-share profit to rise to $4.35 to $4.60 as the company opens natural-gas import terminals and extends pipeline operations. Its shares rose 3.9%.
Sempra, based in San Diego, was expected to earn $4.58 a share, excluding one-time items, next year, according to a Bloomberg survey.
Sempra expects to complete two gas-import terminals in Baja California and Louisiana this year. A $4.4-billion pipeline venture with ConocoPhillips and Kinder Morgan Energy Partners began interim shipments from Colorado to Kansas in January, with full service to Ohio expected by mid-2009.
The company affirmed its previous forecast for 2008 profit, excluding some items, of $3.65 to $3.85 a share.
Its shares rose $1.98 to $53.
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