SCHEDULE 13G/A: BlackRock Amends Sempra Stake Disclosure, Reports 8.1% Beneficial Ownership

BlackRock, Inc. has filed an Amendment No. 16 to its Schedule 13G, disclosing a beneficial ownership of 8.1% of Sempra's common stock as of March 31, 2025.

Summary

• BlackRock, Inc. reported beneficial ownership of 53,048,491 shares of Sempra's common stock.
• This ownership represents 8.1% of Sempra's common stock outstanding.
• BlackRock holds sole voting power over 48,343,067 shares and sole dispositive power over 53,048,491 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of Sempra.
• Various BlackRock subsidiaries and affiliates contribute to this aggregate beneficial ownership, with some entities individually owning 5% or greater of the outstanding shares.

Sentiment

Score: 5

Explanation: The document is a routine beneficial ownership filing, providing factual information without expressing explicit positive or negative sentiment regarding the issuer's performance or outlook. It indicates a stable, passive investment.

Positives

• BlackRock, Inc., a prominent institutional investor, maintains a significant 8.1% stake in Sempra, which can be interpreted as a continued vote of confidence in the company's long-term prospects.
• The filing confirms that BlackRock's investment is for passive purposes, indicating no immediate intent to influence or change the control of Sempra.

Negatives

• The filing is a routine ownership disclosure and does not contain information typically categorized as negatives regarding the issuer's performance or outlook.

Risks

• The Schedule 13G filing itself does not detail specific risks related to Sempra's operations or financial performance; it primarily serves to disclose beneficial ownership.

Future Outlook

The document is a beneficial ownership report and does not provide forward-looking statements or guidance regarding Sempra's future performance or BlackRock's future investment strategy beyond the stated passive intent.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Spencer Fleming, Managing Director of BlackRock, Inc.)

Industry Context

This filing reflects a significant institutional holding by BlackRock, one of the world's largest asset managers, in Sempra, a major energy infrastructure company. Such large, passive stakes are common in the utility and energy sectors, which are often favored by institutional investors for their stability and dividend potential.

Comparison to Industry Standards

• This document is a beneficial ownership report and does not contain financial or operational data that can be directly compared to industry standards or specific comparable companies/projects. It solely discloses BlackRock's ownership stake in Sempra.

Corporate Governance

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, confirming a passive investment approach.
• Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership exceeding 5%.

Key Dates

Keywords

Sempra, BlackRock, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Utility Sector, Energy Infrastructure