This High-Yielding Utility Stock Cashes In on LNG
Dominion Energy (NYSE: D) has a history of making investments that grow shareholder value. That's been evident over the last decade, as the utility has generated a more-than-250% total return, which has outperformed the S&P 500's nearly 240% total return over that time frame.
One of the company's more recent success stories is the redevelopment of Cove Point into a liquefied natural gas (LNG) export terminal. That project has generated steady cash flow since coming online last year, enabling the company to continue growing its dividend, which now yields 4.5%. The utility is now further cashing in on this investment by selling a stake to a private equity fund managed by Brookfield Asset Management (NYSE: BAM). That deal will give Dominion the cash to continue expanding its operations and dividend in the coming years.
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Source Fool.com
