Brookfield Infrastructure Partners (BIP.UN-T)

Came out of it last December after the election on concerns of a global economy challenged by tariff policies. Riding coattails of general market recovery over last few weeks. Still well positioned down the road for global clean energy, but not right now.

Surprised it hasn't done better. Still, happy to continue owning. Stock may be off on questions whether assets can still be sold at a premium in a weakening economy. So far, yes. Yield plus growth. Almost 6% yield, and growing.

Has a global footprint. If you have a TFSA or RRSP, you can buy the partnership units and receive the same dividend as on the corporate units but at a 25% discount--a good value in those accounts. Good dividend growth ahead, paying 5.59% now.

The closer you are to the top of the house in the Brookfield framework, the closer you are to the CEO and the Board, and the incentive structures tend to favour them. Doesn't have the great yield, but has upside. BAM offers you the yield and, broadly speaking, growth aspects. He'd encourage you to stay near the top of the house, depending on how much yield you need for your life circumstances.

For BIP.UN, it's not really whether Mark Carney got elected or not, or tariffs, because it's a global business. Infrastructure, toll roads, coal, etc. Very diversified. 

Likes the business and the story. Grows globally. Buys large, long-term strategic assets. Likes the way they structure their debt. Could do very well in this environment. Caught up a bit in the tariff noise. Buy assets, improve, sell at a premium, repeat. Capital intensive; as rates come down, value of assets should go up.

Disclaimer: Pretty tight with the CEO and some of the management team.

A solid company. He sold it at the high, when it was getting pricey. The preferreds give you a good dividend yield. A rock solid company. Preferreds will pay reliably, but won't give much upside. A safe investment.

You have to love the infrastructure play. Share are in the middle of recent peaks and troughs. New money, invest half now. If Trump tariffs hammer markets, we will likely return to the trough around $30--buy more. Invest long-term money on lower valuations, but this is in the middle now.

Pretty darn defensive. Firing on all cylinders. Monetizing with 2 recent sales. Evidence of capital recycling. Announced 15% stake in Colonial Pipeline in TX. Counter-cyclical; buys assets in bad markets. Real, inflation-linked revenues. Excellent growth outlook. Much more diversified than in years past. 

Reasonable 9x price to AFFO, growing ~12.6%. Good value right here. Yield is 6.20%, which he sees rising ~6% every year.

Healthy dividend. Massively undervalued. Wonderful opportunity for income and growth potential. He'd buy today.

Management's doing what they said they would. It's a yield + growth play. Not sure why it's not performing as well as other utilities. Capital recyclers, and perhaps market prefers using capital for buy-and-hold projects. But they continue to execute their strategy well.

Announced 2 asset sales, gives them a lot of dry powder. Last quarter beat by ~5%; showed strength in midstream, utilities, data, and transport. Boosted distribution by 6%. Inflation-linked revenues. Large backlog. Data centre growth is a great piece of growth. Trades at 8.5x 2027 AFFO, modeling ~11% growth. Yield is 5.8%.

Just beat by 5%. Strong momentum in its segments. Inflation-linked revenues. Large organic pipeline, robust deal-making. Company's bullish about data growth. His estimates show it growing 11%, and trading at 10x. Fairly priced, nice compounder, dividend grows 6% annually. Yield is 5.4%.

Good US assets, Brookfield management is innovative. Business operations are very strong long term, not affected by short-term tariffs. Now, if tariffs are imposed for the long game, there's almost no name that would be unscathed.

A pick for income, but also has growth; that combo is really important. Really likes still. Would consider buying today.

Q3 banged out another 7% YOY. Inflation-linked revenues. Deal pipeline continues to grow. Hit capital recycling targets for 2024. Modelling 15% AFFO growth rate, yet trading at 9.68%. Still likes it, thinks it'll go higher. Yield is 5%.