Dominion Energy owns and operates a natural gas network comprising 14,000 miles (23,000 km) of natural gas transmission, gathering and storage pipeline, including the nation's largest natural gas … 01:22:57 PM BTT. The deal is expected to close in the fourth quarter of this year, pending regulatory approval. Dominion Energy Transmission, Inc., headquartered in Richmond, VA, is the interstate gas transmission subsidiary of Dominion Energy. Visit performance for information about the performance numbers displayed above. Market data powered by FactSet and Web Financial Group. It’s looking to spend up to $3 billion of it on share repurchases. It will significantly reduce the company's debt while returning its focus to its core electric regulated utility operations. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>, Berkshire Hathaway Inc. (BRK.B) - free report >>, Dominion Energy Inc. (D) - free report >>, NextEra Energy, Inc. (NEE) - free report >>. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. We use cookies to understand how you use our site and to improve your experience. Meanwhile, the deal is transformational for Dominion as well. It will cut the payout from $3.76 per share to $2.50 per share after closing the transaction, which will improve its dividend payout ratio from 85% to 65%, with the latter more in line with the utility sector's leaders. 1125 N. Charles St, Baltimore, MD 21201. Disclaimer. "We offer an industry-leading clean-energy profile which includes a comprehensive net zero target by 2050 for both carbon and methane emissions as well as one of the nation's largest zero-carbon electric generation and storage investment programs," Dominion CEO Thomas Farrell said in a statement. Zacks Ranks stocks can, and often do, change throughout the month. Buffett's Berkshire Hathaway Reveals Some Surprise Moves. It will carry 18% of all the interstate natural gas transmission volumes in the country, up from 8%. Dominion Energy and Berkshire Hathaway are expecting the deal to close during the fourth quarter of 2020. NYSE and AMEX data is at least 20 minutes delayed. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Delayed quotes by Sungard. 01:22:57 PM BTT. This has it expecting its dividend to holders of Dominion Energy stock to come in around $2.50. Zacks RankDominion currently has a Zacks Rank #3 (Hold). The sale has Dominion Energy offloading its gas transmission and storage assets to an affiliate of Berkshire Hathaway Energy. Matthew is a senior energy and materials specialist with The Motley Fool. Berkshire Hathaway will acquire more than 7,700 miles of natural gas pipelines from Dominion, including its 100% interest in Dominion Energy Transmission, the Questar Pipeline, and Carolina Gas Transmission, as well as its 50% stake in the Iroquois Gas Transmission System. Berkshire Hathaway (NYSE:BRK-A)(NYSE:BRK-B) has agreed to acquire the natural gas transmission and storage assets of Dominion Energy (NYSE:D). By 2020, it's predicted to blast through the roof to $77.6 billion. Dominion Energy (NYSE:D) stock is taking a beating Monday after announcing the sale of its natural gas assets to Warren Buffett’ Berkshire Hathaway (NYSE:BRK.A,BRK.B). As of this writing, William White did not hold a position in any of the aforementioned securities.

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