Brookfield Infrastructure Partners (BIP.UN-T)

Good combo of income (around 5%) and secular growth, predicated on global infrastructure deficit. Global. Great opportunities in data centres. US CHIPS Act should be a big catalyst. Pullback is pretty buyable.

He sold recently at a high since it was getting harder to analyze but may buy some back later. It is a long term compounder and regularly increases its dividends, so don't sell at these levels. He likes the pure infrastructure plays rather than companies that buy the assets.
Editor's Note: He thinks the central banks have stopped raising interest rates and that inflation is coming down into the 2 to 3% range. Valuations should then start to recover and he expects a bond rally in the next year or two.,

Interest-rate sensitive, sector's out of favour. More debt, because they invest in hard assets. Generates steady stream of cashflow, indexed to inflation over time. To assess, look at cashflow from operations. Distribution safe. Likes the space, keep holding.

A great long-term hold. Every pension fund needs long assets like infrastructure. Brookfield probably holds the best stable of international properties. People own this for the dividend, but these stocks have struggled this. Now is a terrific entry point for BIP.

One of the Brookfield affiliates; it invest in data centres, ports, etc. internationally. The world needs more infrastructure, and Washington passed an infrastructure bill last year, so there is money looking to be invested. BIP is a good combination of income (growing dividend) and growth. BIP has a funding advantage via its parent company, though theoretically there shouldn't be a wide difference in share price between the parent and their affiliates. But if shares are close, you can buy this for a taxable account; for non-taxable account, buy the cheaper one.

Excellent long term prospects.
Recent selloff in share price due to rising interest rates. 
Fundamentally strong business. 
80% + of cash flow protected from inflation.
HVAC business unit will benefit from Federal Government subsidies. 

Higher interest rates plus some M&A deals, so a bit of shuffling to fund assets. Still modelling reasonable growth of 8%, with 12x price to AFFO, decent dividend. Not an "if" thesis, but "when". Nothing wrong with the thesis.

The sector is fairly interest-rate sensitive, so it's sold off. One of his preferences in the sector, and it all has to do with a good growth outlook. 

Wonderful name. A long-term hold. Well-positioned to take advantage of opportunities in the current market.

Valuation is attractive. Stable and steady business, defensive. Global platform for growth. Good for someone with a lower risk tolerance. BBU.UN will do well, but it's lumpy.

BIP has seen decent gains this year. A good medium/long-term hold. BIP are building data centres, which is important given the AI boom. They're competing to buy a $5.5 billion data centre.

It has very strong organic growth and Q1 was in line with estimates. It is very good at putting capital to work by buying assets during weakness in the cycle. Its price to growth rate is also very good.. This is good way for retail investors to have investments in private equities which BIP.UN owns.
Buy 9   Hold 3   Sell 1

BIP.UN is diverse in geography and industry. Think cell towers in India, Enercare in Canada, highways and natural gas plants. Infrastructure, utility and even energy make up its DNA. BIP.UN pays a 4.39% dividend that historically rises 5% each year, and it trades at a 0.89 beta. Fairly stable, though it missed its last two quarters. Read Which Brookfield? for our full analysis.

Very well run. Global. In a good spot right now. Unique platform across asset classes and geographies. Has capital, and prices for asset purchases are down. Less than 12x FFO, very attractive entry point and long-term runway.

Both are ones you could own, but which one now? BIP.UN has robust, organic growth, inflation-linked cashflows, just announced an acquisition that looks accretive. This is one of the 10 stocks in Canada that you need to own. It's at levels that are being ignored, so you could buy right now. 

NTR doesn't have the same growth rate, it actually looks negative. NTR will be a buy at some point, but you can wait for lower levels.