Warren Buffett's Berkshire Hathaway proposes $8.3B fix for Texas electric grid

Buffett wants to strengthen the Texas electrical network

  • Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) is proposing a plan to spend $8.3B to help Texas avoid a repeat of February's blackouts by building new power plants that would run during electricity emergencies.
  • Chris Brown, CEO of Berkshire Hathaway Energy Infrastructure, says the company could build 10 large natural gas plants that would operate only during times of extreme need, and not otherwise compete in the state's power market.
  • Under the proposal, the grid operator would control the plants and could call on them during periods of tight supply to prevent blackouts such as last month's catastrophe that left more than 4M homes and businesses in the dark for days.
  • Berkshire hopes to receive a 9.3% rate of return on the investment, the same as regulated electric companies that operated a portion of the grid, Brown says, adding that the plants could be operational by November 2023.

    Over the current book year the total revenue from the company in Omaha will be 266.9 billion USD (consensus estimates). This is slightly more than 2020's revenue of 245.51 billion USD.

    Historical revenues and results Berkshire Hathaway plus estimates 2020

    aandelenanalyses

    The analysts expect for 2021 a net profit of 19.58 billion USD. For this year the consensus of the result per share is a profit of 16333.67 USD. Based on this the price/earnings-ratio is 23.9.

    Analysts don't expect the company to pay a dividend. The average dividend yield of the investment companies equals a good 1.88 percent.

    Based on the current number of outstanding shares Berkshire Hathaway 's market capitalization is 274.02 billion USD. The Berkshire Hathaway stock was the past 12 months quite unstable. Since last April the stock is even 44 percent higher. This year the stock price moved between 250926 and 407750 dollar.

    Historical stock prices Berkshire Hathaway

    stock analysis berkshirehathaway

    On Thursday the stock closed at 390360 USD.

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