DCP - Buffett Buys Pipelines: A Ringing Endorsement For Midstream
Despite Berkshire Hathaway (BRK.A) (BRK.B) already having some solid exposure in energy infrastructure (Kern River, Northern Natural Gas), many generalist investors have often cited "Buffett-isms" as reasons for not investing in midstream. I've heard it all before, whether it be critiques of key metrics like EBITDA or DCF that form the anchor of the industry or the simple fact that fossil fuels are a dying industry - and dying industries are to be avoided.
However, the signal that Berkshire Hathaway would be acquiring Dominion Energy (D) assets for nearly $10,000mm has thrown all of that