Brookfield Infrastructure Partners (BIP.UN.TO)

[For a long term hold]. It is a fantastic long term hold. Their fund managers are some of the smartest guys in the business. It gives you exposure to a variety of infrastructure assets. You get a nice 4% dividend yield. He owns it through BAM.A-T because it is his preferred way to play it.

Has a very strong pipeline and sees it growing at 28% over the next couple of years. Trading below its five-year average. Has a 62% PR. They tend to bump their distribution 5%-10% every year. Good balance sheet. The only thing wrong is that it is still pretty expensive. It doesn’t give too much opportunity to Buy, so trying to buy on a pullback is pretty tough. Just hold your nose and buy it.

That whole group has done very well and she would expect it to continue. She is watching the parent company with the idea of entering.

Brookfield Asset Management (BAM.A-T) or Brookfield Infrastructure Partners (BIP.UN-T)? He would always choose the parent, because the income flows up.

Brookfield Infrastructure (BIP.UN-T) or Bank of Nova Scotia (BNS-T) for better growth? Financials is a group that he has been in favour of for some time, but prefers US to Canadian. If he had to buy one of these 2, he would probably buy this one. It is an interesting collection of assets, but might underperform global markets because of being a more defensive play. As a yield play, it is kind of attractive.

(A Top Pick May 4/16. Up 53%.) He liked this for their solid pipeline of growth, and still models a 20% EPS growth over the next couple of years. Just bumped their distribution by 11%. 67% payout ratio, so the dividend is good. It has reached his target price, so he would not be adding to it.

This is one where you have to trust management. They have done a great job and will continue to do so. Focused heavily on real estate. If interest rates flatten out, the appreciation of real estate probably finally comes to an end, especially in commercial real estate. Probably a decent investment. You get nice dividends and it will gradually grow.

Brookfield Asset (BAM.A-T) or Brookfield Infrastructure (BIP.UN-T)? Between the 2, her preference would be Brookfield Asset Management. It is much more diversified, plus it has interest in Brookfield Infrastructure. It gives you access to their fund management side, the private equity funds. It is also where senior management executives own their shares. Dividend yield of 4.5%.

This is a big weight in his fund. It has a great dividend yield. Management has done a fantastic job of investing assets, buying infrastructure assets around the world, and also trimming its portfolio when it is prudent to do so. There are loads of opportunities open to them. Because they are so well respected at what they do, they are finding that they can take on bigger and bigger projects, be the manager of them and find that sovereign wealth funds are actually joining them in these projects.

WSP-T vs. BIP.UN-T. He would buy BIP.UN-T today. They have a track of record making good acquisitions. The underlying business of WSP-T is not going to generate business that is as stable. You will have mid-single digit dividend growth with BIP.UN-T.

Near an all time high. She likes it because it can do well in both environments. We are getting late stages in the cycle. They can do well in poor economic times or good. They can monetize their assets. They will continue to do well no matter what the environment. (Analysts' target: $38.50).

(A Top Pick April 20/16. Up 45%.) He still likes this and still believes in the strategy and owns a good amount of it.

A great company. He models 25% AFFO growth this year and next. They are on 4 different continents and have a record backlog. Trading at 14.9X versus its 3-year average of around 16.3X. You could buy this now, but it is a bit of a yield proxy.

Part of the broader Brookfield family publicly traded entities. He has great respect for management. Big infrastructure, a secular growth area. We will see funds directed to this area from both Canada and the US. Feels there is better exposure through the parent, Brookfield Asset Management (BAM.A-T).

He doesn’t own any infrastructure stocks right now, but this one is a very good one. We are going to get some fiscal policy follow through from some of the governments, which has been a way overdue. Expects there will be some spending starting to take place in the US.