{"id":756,"date":"2020-07-06T01:36:21","date_gmt":"2020-07-06T01:36:21","guid":{"rendered":"https:\/\/bitesizebkk.co\/?p=756"},"modified":"2020-07-06T01:36:21","modified_gmt":"2020-07-06T01:36:21","slug":"warren-buffetts-berkshire-hathaway-finally-found-something-to-buy","status":"publish","type":"post","link":"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/","title":{"rendered":"Warren Buffett&#8217;s Berkshire Hathaway Finally Found Something to Buy"},"content":{"rendered":"<p>Warren Buffett finally found something that caught his eye. This is Berkshire Hathaway&#8217;s first significant purchase since the Coronavirus pandemic hit during March, and Warren Buffett has <a href=\"https:\/\/www.cnbc.com\/2020\/05\/02\/buffett-on-why-he-hasnt-made-any-big-investments-we-dont-see-anything-that-attractive.html\">said<\/a> back in May that he &#8220;hasn&#8217;t seen anything that attractive&#8221;, hence Berkshire Hathaway was sitting on a record of <a href=\"https:\/\/www.cnbc.com\/2020\/05\/02\/buffett-on-why-he-hasnt-made-any-big-investments-we-dont-see-anything-that-attractive.html\">US$137 billion<\/a> in cash.\u00a0 After that, the company made headlines for selling all its airline stocks, signalling a big shift in the industry and underlining Buffett&#8217;s conviction that travel will be slow to recover.<\/p>\n<p>Now, the conglomerate is spending <a href=\"https:\/\/www.cnbc.com\/2020\/07\/05\/warren-buffetts-berkshire-buys-dominion-energy-natural-gas-assets-in-10-billion-deal.html\">$4 billion<\/a> to buy the natural gas transmission and storage assets of Dominion Energy. Including the assumption of debt, the deal totals almost $10 billion.<\/p>\n<blockquote><p>Berkshire Hathaway Energy will now carry <a href=\"https:\/\/www.cnbc.com\/2020\/07\/05\/warren-buffetts-berkshire-buys-dominion-energy-natural-gas-assets-in-10-billion-deal.html\">18%<\/a> of all interstate natural gas transmission in the United States, up from 8% currently.<\/p><\/blockquote>\n<p>This purchase will significantly up Berkshire Hathaway&#8217;s exposure in the natural gas business.<\/p>\n<p>Following the sale, Dominion expects that 90% of its future operating earnings will come from its utility companies that provide energy to more than 7 million customers in states like Virginia and Ohio. Dominion will focus on clean energy production from wind, solar and natural gas.<\/p>\n<p>The company has also announced the cancellation of its Atlantic Coast Pipeline project with <a href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=DUK\">Duke Energy<\/a>. The $8 billion project has faced increasing regulatory scrutiny and delays.<\/p>\n<p>Berkshire Hathaway Energy will acquire <a href=\"https:\/\/www.cnbc.com\/2020\/07\/05\/warren-buffetts-berkshire-buys-dominion-energy-natural-gas-assets-in-10-billion-deal.html\">100%<\/a> of Dominion Energy Transmission, Questar Pipeline and Carolina Gas Transmission, and 50% of Iroquois Gas Transmission System. This move signals that Berkshire is bullish on an industry that is facing more scrutiny as it aims to shift away from fossil fuels.<\/p>\n<p>\u201cIt\u2019s not something that\u2019s going to move the needle from a balance sheet standpoint, but it\u2019ll produce several hundred million dollars a year in net income to Berkshire,\u201d <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-07-05\/buffett-s-berkshire-ends-deal-drought-with-dominion-energy-bet?sref=a53M2hFI\">said<\/a> Darren Pollock, a portfolio manager at Cheviot Value Management (who invests in Berkshire shares) to Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett finally found something that caught his eye. This is Berkshire Hathaway&#8217;s first significant purchase since the Coronavirus pandemic hit during March, and Warren Buffett has said back in May that he &#8220;hasn&#8217;t seen anything that attractive&#8221;, hence Berkshire Hathaway was sitting on a record of US$137 billion in cash.\u00a0 After that, the company [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[197,198,199,196],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Warren Buffett&#039;s Berkshire Hathaway Finally Found Something to Buy - Bitesize<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warren Buffett&#039;s Berkshire Hathaway Finally Found Something to Buy - Bitesize\" \/>\n<meta property=\"og:description\" content=\"Warren Buffett finally found something that caught his eye. This is Berkshire Hathaway&#8217;s first significant purchase since the Coronavirus pandemic hit during March, and Warren Buffett has said back in May that he &#8220;hasn&#8217;t seen anything that attractive&#8221;, hence Berkshire Hathaway was sitting on a record of US$137 billion in cash.\u00a0 After that, the company [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Bitesize\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-06T01:36:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bitesizebkk.co\/wp-content\/uploads\/2020\/07\/960x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"643\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bitesite Admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bitesite Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/\",\"url\":\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/\",\"name\":\"Warren Buffett's Berkshire Hathaway Finally Found Something to Buy - Bitesize\",\"isPartOf\":{\"@id\":\"https:\/\/bitesizebkk.co\/#website\"},\"datePublished\":\"2020-07-06T01:36:21+00:00\",\"dateModified\":\"2020-07-06T01:36:21+00:00\",\"author\":{\"@id\":\"https:\/\/bitesizebkk.co\/#\/schema\/person\/68b3e899a7998fd3bd6ed3247d303739\"},\"breadcrumb\":{\"@id\":\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bitesizebkk.co\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Warren Buffett&#8217;s Berkshire Hathaway Finally Found Something to Buy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bitesizebkk.co\/#website\",\"url\":\"https:\/\/bitesizebkk.co\/\",\"name\":\"Bitesize\",\"description\":\"News of the day, written our way\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bitesizebkk.co\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/bitesizebkk.co\/#\/schema\/person\/68b3e899a7998fd3bd6ed3247d303739\",\"name\":\"Bitesite Admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bitesizebkk.co\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/95871b4cf2a6c339d3e1912b1efd4b76?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/95871b4cf2a6c339d3e1912b1efd4b76?s=96&d=mm&r=g\",\"caption\":\"Bitesite Admin\"},\"url\":\"https:\/\/bitesizebkk.co\/author\/bitesizebangkok\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Warren Buffett's Berkshire Hathaway Finally Found Something to Buy - Bitesize","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bitesizebkk.co\/warren-buffetts-berkshire-hathaway-finally-found-something-to-buy\/","og_locale":"en_US","og_type":"article","og_title":"Warren Buffett's Berkshire Hathaway Finally Found Something to Buy - Bitesize","og_description":"Warren Buffett finally found something that caught his eye. 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