Buffett ups Burlington Northern stake to 21.8 pct (BNI)

BNI is the nation's largest coal hauler. Add the former Enron natural gas pipeline (via Dynegy) and MidAmerican Energy's wind operations (1200+ MW installed or under construction, #1 among regulated utilities) and you have as diversified/hedged an energy play as you'll find anywhere.

From Reuters:

Warren Buffett's Berkshire Hathaway Inc (BRKa) (BRKb) has raised its stake in Burlington Northern Santa Fe Corp (BNI) to 21.8 percent, after spending about $271 million this month on shares of the second-largest U.S. railroad.

Berkshire's National Indemnity Co unit bought 4.36 million Burlington Northern shares from Jan. 15-20, paying between $61.65 and $63.43 per share, according to a filing late Tuesday with the U.S. Securities and Exchange Commission.

Berkshire now owns 74,452,029 Burlington Northern shares, valued at $4.56 billion based on Tuesday's closing price of $61.25, the filing shows....MORE