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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Brookfield Asset Management Inc.    BAM.A   CA1125851040

BROOKFIELD ASSET MANAGEMENT INC.

(BAM.A)
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Brookfield Asset Management : Dominion Energy to Sell 25% Stake in Cove Point to Brookfield

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10/21/2019 | 08:06am EST

By Colin Kellaher

Dominion Energy Inc. (D) on Monday said it agreed to sell a 25% stake in its Cove Point liquefied natural gas facility to Brookfield Super-Core Infrastructure Partners, an infrastructure fund managed by Brookfield Asset Management Inc. (BAM), for cash consideration of just over $2 billion, excluding working capital.

Dominion said the transaction represents an implied enterprise value of $8.22 billion for Dominion Energy Cove Point LNG LP, which owns an LNG import, export and storage facility in Lusby, Md., that includes a 136-mile pipeline connecting the facility with the interstate pipeline system.

Dominion, a Richmond, Va., provider of electricity and natural gas, said the transaction is part of its plan to establish a permanent capital structure for Cove Point.

Dominion said it will retain full operational control of the facility and its services upon completion of the transaction, expected by the end of the year.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BROOKFIELD ASSET MANAGEMENT INC. -0.85% 75.92 Delayed Quote.46.35%
DOMINION ENERGY, INC. 0.67% 82.11 Delayed Quote.14.90%
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Financials (USD)
Sales 2019 63 951 M
EBIT 2019 12 492 M
Net income 2019 -
Debt 2019 -
Yield 2019 1,11%
P/E ratio 2019 29,3x
P/E ratio 2020 23,3x
Capi. / Sales2019 0,90x
Capi. / Sales2020 0,95x
Capitalization 57 803 M
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Technical analysis trends BROOKFIELD ASSET MANAGEMEN
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Average target price 52,95  $
Last Close Price 57,39  $
Spread / Highest target 4,55%
Spread / Average Target -7,73%
Spread / Lowest Target -20,0%
EPS Revisions
Managers
NameTitle
James Bruce Flatt CEO, Director & Senior Managing Partner
Frank J. McKenna Chairman
Lori A. Pearson Chief Operating Officer & Senior Managing Partner
Brian Douglas Lawson Chief financial Officer & Director
Dominic Dodds Managing Director-Technology
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