FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: Sempra Urged by Voss Capital to Spin Off Texas Electricity Unit Oncor

By

Sempra (SRE) is being urged by activist investor Voss Capital to spin off its Oncor electricity unit, Reuters said Thursday, citing sources familiar with the matter and a letter seen by the media outlet.

Voss Capital, which owns less than 1% of Sempra, has argued that a newly independent Oncor Electric Delivery Company would become the highest-growth public transmission utility in the US and could be worth up to $78 billion by the end of 2028, the report said.

With Sempra controlling about 80% of Oncor, its stake would be worth more than Sempra's current market value as a combined company, Voss said, according to Reuters.

Sempra did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $89.01, Change: $-1.03, Percent Change: -1.14%

Related Articles

Wire

Estrella Resources Says Electromagnetic Survey Completed at East Timor Manganese Project; Shares Up 4%

Estrella Resources (ASX:ESR) said an unmanned aerial vehicle passive electromagnetic geophysical survey was completed at its Ira Miri manganese project in East Timor, according to a Friday Australian bourse filing.Results from the survey are expected to rank and prioritize deeper drill targets beneath and adjacent to the current Ira Miri pit as well as refine the company's geological and structural model of the Ira Miri manganese system, per the filing.The company's shares rose nearly 4% in recent trading on Friday.

ASX:ESR
Wire

Nextpower to Acquire Prevalon Energy, Raises Fiscal 2027 Outlook; Shares Gain After Hours

Nextpower (NXT) agreed to acquire Prevalon Energy, a US joint venture between Mitsubishi Power Americas and EES, for up to $365 million in cash and stock to expand into battery storage and AI data-center infrastructure markets.The transaction is expected to close in Q2 of fiscal 2027, Nextpower said Thursday in a statement.The company also raised fiscal 2027 guidance to adjusted diluted EPS of $4.30 to $4.73 on revenue of $4 billion to $4.4 billion. The prior outlook was EPS of $3.19 to $3.56 on revenue of $3.8 billion to $4.1 billion.Analysts polled by FactSet expect EPS of $4.54 on revenue of $4 billion.Nextpower shares rose 7.9% in after-hours trading.

$NXT
Wire

Gap Fiscal Q1 GAAP Earnings, Revenue Rise

Gap (GAP) reported fiscal Q1 adjusted earnings late Thursday of $0.38 per diluted share. The company did not provide comparable adjusted earnings for the year-ago quarter. Analysts polled by FactSet expected $0.37.The company reported GAAP earnings of $0.90 per diluted share, up from $0.51 a year earlier.Revenue for the 13 weeks ended May 2 was $3.50 billion, up from $3.46 billion a year earlier.Analysts surveyed by FactSet expected $3.52 billion.For Q2, the company expects net sales to be flat to down 1% year-over-year.For fiscal 2026, the company now expects adjusted EPS of $2.30 to $2.40, up from the prior forecast of $2.20 to $2.35. Analysts expect $2.29.The company now expects fiscal 2026 net sales to be up 1% to 2% year-over-year, versus the prior outlook for 2% to 3% growth.

$GAP