Brookfield Infrastructure Partners

BIP.UN-T

TSE:BIP.UN

59.32
0.86 (1.43%)
Brookfield Infrastructure Partners L.P. is a publicly traded limited partnership with corporate headquarters in Toronto, Canada, that engages in the acquisition and management of infrastructure assets on a global basis.
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Analysis and Opinions about BIP.UN-T

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Opinion
Expert
COMMENT
COMMENT
July 3, 2020

Tax differences? For a Canadian investor, there really is not much difference between BIP.UN and BIPC. US investors face different issues regarding limited partnerships. It was a strategy by Brookfield to increase liquidity and it is why BIPC trades at a premium to BIP.UN -- it was also added to the Russell Index. If you are a Canadian investor, stay with BIP.UN as it has a higher yield.

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Tax differences? For a Canadian investor, there really is not much difference between BIP.UN and BIPC. US investors face different issues regarding limited partnerships. It was a strategy by Brookfield to increase liquidity and it is why BIPC trades at a premium to BIP.UN -- it was also added to the Russell Index. If you are a Canadian investor, stay with BIP.UN as it has a higher yield.

TOP PICK
TOP PICK
June 12, 2020
A defense hold. They are being hit in some toll road assets and in Latin America, but he views these are temporary issues. He sees 2020 earnings down about 8%. In the meantime they will be looking for opportunities and have over $4 billion of liquidity. They have very limited short-term debt that will need to rolled over. A safe dividend with a good payout ratio. It trades at 12 times 2021 earnings -- very attractive. Yield 4.83% (Analysts’ price target is $64.84)
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A defense hold. They are being hit in some toll road assets and in Latin America, but he views these are temporary issues. He sees 2020 earnings down about 8%. In the meantime they will be looking for opportunities and have over $4 billion of liquidity. They have very limited short-term debt that will need to rolled over. A safe dividend with a good payout ratio. It trades at 12 times 2021 earnings -- very attractive. Yield 4.83% (Analysts’ price target is $64.84)
BUY
BUY
May 26, 2020

BAM vs. BIP For income, buy BIP; for capital appreciation, BAM. Both are well-run. BAM is the parent company and is one of the biggest asset managers in the world. BAM is solid and will be hunting for properties in this pullback; they are skilled investors. It's trading at a discount to NAV which means some downside protection It's a little difficult to understand all of BAM's moving parts and its reliance on various financing vehicles. (BPY is struggling, but will be a drag on BAM.) BIP and BAM will be fine long-term.

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BAM vs. BIP For income, buy BIP; for capital appreciation, BAM. Both are well-run. BAM is the parent company and is one of the biggest asset managers in the world. BAM is solid and will be hunting for properties in this pullback; they are skilled investors. It's trading at a discount to NAV which means some downside protection It's a little difficult to understand all of BAM's moving parts and its reliance on various financing vehicles. (BPY is struggling, but will be a drag on BAM.) BIP and BAM will be fine long-term.

TOP PICK
TOP PICK
May 25, 2020
It is a rotational play within the Brookfield space away from traditional office properties. There is an immediate need and we are going into a US election in November. (Analysts’ price target is $65.39)
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It is a rotational play within the Brookfield space away from traditional office properties. There is an immediate need and we are going into a US election in November. (Analysts’ price target is $65.39)
HOLD
HOLD
May 14, 2020
Good, long life assets. He sees no reason to sell it. It is acting very well.
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Good, long life assets. He sees no reason to sell it. It is acting very well.
BUY
BUY
May 4, 2020
Those guys are very creative financially. They tried to create a structure to change it to an actual corporation. The partnership units cause all sorts of tax problems. He has no idea why there is a price differential between this and the parent. He is comfortable holding it here.
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Those guys are very creative financially. They tried to create a structure to change it to an actual corporation. The partnership units cause all sorts of tax problems. He has no idea why there is a price differential between this and the parent. He is comfortable holding it here.
COMMENT
COMMENT
May 1, 2020

BPY.UN into BIP.UN? They do not own either Brookfield holdings. He has a favourable view on all the Brookfield entities and prefers to hold BIP.UN over BPY.UN as the former holds a lot of retail space. There is a huge infrastructure shortage around the world, so BIP.UN is well positioned for this opportunity.

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BPY.UN into BIP.UN? They do not own either Brookfield holdings. He has a favourable view on all the Brookfield entities and prefers to hold BIP.UN over BPY.UN as the former holds a lot of retail space. There is a huge infrastructure shortage around the world, so BIP.UN is well positioned for this opportunity.

TOP PICK
TOP PICK
April 22, 2020
He bought in during the drop in March. There is a lot of good value in infrastructure. They have the ability to look globally, where the best opportunities emerge. A good time to buy. Yield 5.37% (Analysts’ price target is $66.56)
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He bought in during the drop in March. There is a lot of good value in infrastructure. They have the ability to look globally, where the best opportunities emerge. A good time to buy. Yield 5.37% (Analysts’ price target is $66.56)
DON'T BUY
DON'T BUY
April 21, 2020
BIPC vs. BIP.UN He's avoiding all Brookfield infrastructure stocks. All infrastructure stocks have been caught off-guard by the pandemic. So infrastructure is no longer safe and the future is unknown. He expects infrastructure spending will fall which will reduce dividends in the future.
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BIPC vs. BIP.UN He's avoiding all Brookfield infrastructure stocks. All infrastructure stocks have been caught off-guard by the pandemic. So infrastructure is no longer safe and the future is unknown. He expects infrastructure spending will fall which will reduce dividends in the future.
PAST TOP PICK
PAST TOP PICK
April 16, 2020
(A Top Pick Jun 04/19, Up 6%) They tried to get a common share spin out for those that don’t like limited partnerships. They run this really well and he likes that they take positions in infrastructure projects of less than 100% usually and in projects that need a little help. They develop the project and then sell it off. He continues to hold it.
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(A Top Pick Jun 04/19, Up 6%) They tried to get a common share spin out for those that don’t like limited partnerships. They run this really well and he likes that they take positions in infrastructure projects of less than 100% usually and in projects that need a little help. They develop the project and then sell it off. He continues to hold it.
PAST TOP PICK
PAST TOP PICK
April 15, 2020
(A Top Pick May 02/19, Up 13%) In late March they distributed 10% into BIPC to bring in institutional investors. This was meant to be a conservative holding as they have toll roads and ports. You can continue to hold it. This will provide steady yields going forward.
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(A Top Pick May 02/19, Up 13%) In late March they distributed 10% into BIPC to bring in institutional investors. This was meant to be a conservative holding as they have toll roads and ports. You can continue to hold it. This will provide steady yields going forward.
COMMENT
COMMENT
April 6, 2020
BIPC-T vs. BIP.UN-T. Some institutions could not hold the .UN version in their portfolios. They can hold the new version, which started trading in March. They are exchangeable on a 1:1 basis but may have different tax implications.
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BIPC-T vs. BIP.UN-T. Some institutions could not hold the .UN version in their portfolios. They can hold the new version, which started trading in March. They are exchangeable on a 1:1 basis but may have different tax implications.
PAST TOP PICK
PAST TOP PICK
March 11, 2020
(A Top Pick Feb 21/19, Up 19%) Good name for offense and defense. He'd look to buy back at these levels or a bit lower. Almost recession-proof. PEG is still very compelling.
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(A Top Pick Feb 21/19, Up 19%) Good name for offense and defense. He'd look to buy back at these levels or a bit lower. Almost recession-proof. PEG is still very compelling.
BUY WEAKNESS
BUY WEAKNESS
February 28, 2020
A lot of money has flowed into infrastructure around the world and they have been a great player in the space. This includes ports, railways and terminals. They have benefited from money flowing into Environment, Security and Government projects. It is at a high valuation right now, so he would look to buy at lower levels. Yield 4.27%
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A lot of money has flowed into infrastructure around the world and they have been a great player in the space. This includes ports, railways and terminals. They have benefited from money flowing into Environment, Security and Government projects. It is at a high valuation right now, so he would look to buy at lower levels. Yield 4.27%
PAST TOP PICK
PAST TOP PICK
February 5, 2020
(A Top Pick Feb 12/19, Up 41%) They have held this for a long time. The fundamentals remain positive. It has water, toll roads, cell phone data and others. They partner with others, improve the business by contracting its use and then sell off their interest. It creates cash flow and good returns.
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(A Top Pick Feb 12/19, Up 41%) They have held this for a long time. The fundamentals remain positive. It has water, toll roads, cell phone data and others. They partner with others, improve the business by contracting its use and then sell off their interest. It creates cash flow and good returns.
TOP PICK
TOP PICK
February 5, 2020
70% of their cash flow is from take or pay contracts. It does not matter what the economy is doing. A great defensive quality. Yield 3.71% (Analysts’ price target is $72.06)
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70% of their cash flow is from take or pay contracts. It does not matter what the economy is doing. A great defensive quality. Yield 3.71% (Analysts’ price target is $72.06)
BUY
BUY
January 28, 2020
Brookfield is a good steward of capital. great stock. This holds long-life assets with big moats and demand lots of capital to build (thus hard to replicate). They grow their dividend. He's long owned this, happy to, but he ensures that infrastructure stocks he holds score high in ESG (sustainable stocks). BIP does.
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Brookfield is a good steward of capital. great stock. This holds long-life assets with big moats and demand lots of capital to build (thus hard to replicate). They grow their dividend. He's long owned this, happy to, but he ensures that infrastructure stocks he holds score high in ESG (sustainable stocks). BIP does.
PAST TOP PICK
PAST TOP PICK
January 28, 2020
(A Top Pick Mar 06/19, Up 37%) They go around the world making strategic infrastructure assets, currently targeting India like water treatment facilities. They go to countries that other countries can't, with their strategic relationships and can write a big cheque--they can finance big assets. They take debt to finance the asset and put the debt on the asset, a non-recourse, something he really likes, because if something were to happen at the asset level, the recourse from the bondholders is down to the asset and not back to the company. Strong managers.
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(A Top Pick Mar 06/19, Up 37%) They go around the world making strategic infrastructure assets, currently targeting India like water treatment facilities. They go to countries that other countries can't, with their strategic relationships and can write a big cheque--they can finance big assets. They take debt to finance the asset and put the debt on the asset, a non-recourse, something he really likes, because if something were to happen at the asset level, the recourse from the bondholders is down to the asset and not back to the company. Strong managers.
TOP PICK
TOP PICK
January 27, 2020
They manage $26 billion of global assets, from energy and utilities to transports. They have an excellent track record of growth. 94% of cash flow is regulated. The breakout above $60 was good. Today it went up during a strong sell-off. (Analysts’ price target is $72.21)
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They manage $26 billion of global assets, from energy and utilities to transports. They have an excellent track record of growth. 94% of cash flow is regulated. The breakout above $60 was good. Today it went up during a strong sell-off. (Analysts’ price target is $72.21)
DON'T BUY
DON'T BUY
January 10, 2020
He is not a fan of Brookfield in general. Simply avoid it.
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He is not a fan of Brookfield in general. Simply avoid it.
PAST TOP PICK
PAST TOP PICK
January 10, 2020
(A Top Pick Jan 18/19, Up 31%) This plays offence and defence, and was well-priced at the time. Still growing AFFO at 15% compounded annually. Despite great growth, still reasonable at 15x price to AFFO. You can still own this.
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(A Top Pick Jan 18/19, Up 31%) This plays offence and defence, and was well-priced at the time. Still growing AFFO at 15% compounded annually. Despite great growth, still reasonable at 15x price to AFFO. You can still own this.
PARTIAL BUY
PARTIAL BUY
January 8, 2020
Overall, he has great admiration for all the Brookfield spin offs. He prefers holding the parent. For longer term investors, this would be a good time to add to a position. He does not own it, but will be watching it.
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Overall, he has great admiration for all the Brookfield spin offs. He prefers holding the parent. For longer term investors, this would be a good time to add to a position. He does not own it, but will be watching it.
BUY
BUY
January 3, 2020
Brookfield has done well in general. This would be a good entry into a infrastructure company. Good diversification. He would be a buyer.
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Brookfield has done well in general. This would be a good entry into a infrastructure company. Good diversification. He would be a buyer.
PAST TOP PICK
PAST TOP PICK
December 11, 2019
(A Top Pick Dec 19/18, Up 52%) This stock is still seeing earnings grow by 15% annually. It is still priced reasonably. They have solid 9% organic sales growth. He would wait for a pullback to add to a position.
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(A Top Pick Dec 19/18, Up 52%) This stock is still seeing earnings grow by 15% annually. It is still priced reasonably. They have solid 9% organic sales growth. He would wait for a pullback to add to a position.
BUY
BUY
December 9, 2019

BIP.UN vs. WSP They're different businesses. WSP is a consolidation play on the engineering side and have done a great job growing and consolidating that space. But he prefers BIP, though he expects WSP to continue to do well. BIP is more stable.

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BIP.UN vs. WSP They're different businesses. WSP is a consolidation play on the engineering side and have done a great job growing and consolidating that space. But he prefers BIP, though he expects WSP to continue to do well. BIP is more stable.

TOP PICK
TOP PICK
November 22, 2019
4% yield with 14% dividend growth per year. It’s a safe stock with good infrastructure projects. A good growth potential over the next 5 years that is well diversified.
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4% yield with 14% dividend growth per year. It’s a safe stock with good infrastructure projects. A good growth potential over the next 5 years that is well diversified.
BUY
BUY
November 15, 2019
Brookfield property is where you want to go for the dividend. BIP.UN is more for growth. The dividend from the property side is quite safe and he would recommend it. Both are good company stocks. He likes the group in general.
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Brookfield property is where you want to go for the dividend. BIP.UN is more for growth. The dividend from the property side is quite safe and he would recommend it. Both are good company stocks. He likes the group in general.
PAST TOP PICK
PAST TOP PICK
November 7, 2019
(A Top Pick Nov 20/18, Up 35%) Continues to like it. Steady as she goes. Tried and true formula of redeploy capital, earn a nice return, sell the asset at a good return. Like a pipeline company for everything. Good dividend, capital appreciation.
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(A Top Pick Nov 20/18, Up 35%) Continues to like it. Steady as she goes. Tried and true formula of redeploy capital, earn a nice return, sell the asset at a good return. Like a pipeline company for everything. Good dividend, capital appreciation.
BUY
BUY
November 1, 2019

Infrastructure and utility play can be offence and defence in these climate. You'll probably get growth even in an economic slowdown with names like this, and Algonquin.

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Infrastructure and utility play can be offence and defence in these climate. You'll probably get growth even in an economic slowdown with names like this, and Algonquin.

BUY
BUY
October 23, 2019
Generates cash flow outside Canada. Steady dividends. Fine managers. Likes all the Brookfield stocks.
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Generates cash flow outside Canada. Steady dividends. Fine managers. Likes all the Brookfield stocks.
COMMENT
COMMENT
October 17, 2019
It is run by some really bright people. It is a global infrastructure company. It might find its way into his fund. They have been very astute acquirers of assets.
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It is run by some really bright people. It is a global infrastructure company. It might find its way into his fund. They have been very astute acquirers of assets.
BUY
BUY
October 9, 2019

Pays a good yield. They invest in hard assets like toll bridges and are global. They're defensive which are doing well these days. She owns more of the Brookfield parent, but you can buy this for yield and start a position now.

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Pays a good yield. They invest in hard assets like toll bridges and are global. They're defensive which are doing well these days. She owns more of the Brookfield parent, but you can buy this for yield and start a position now.

TOP PICK
TOP PICK
October 4, 2019
He likes the yield. They own good long lasting assets, like railroads, toll roads, harbours and cell phone towers. He likes how they are changing it to a regular corporation from an LP -- making it eligible for the dividend tax credit. He does not think the market has clued into this yet. Yield 4.16% (Analysts’ price target is $67.44)
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He likes the yield. They own good long lasting assets, like railroads, toll roads, harbours and cell phone towers. He likes how they are changing it to a regular corporation from an LP -- making it eligible for the dividend tax credit. He does not think the market has clued into this yet. Yield 4.16% (Analysts’ price target is $67.44)
BUY
BUY
October 4, 2019
He likes the Brookfield group. He sees the infrastructure portfolio, especially with pension funds investing in it. They have a ready market, resources to vet projects, bring it online and to sell to pension funds. Infrastructure is not tied to the market so it's a good area. He doesn't think it's too late to get in since rates will probably remain low.
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He likes the Brookfield group. He sees the infrastructure portfolio, especially with pension funds investing in it. They have a ready market, resources to vet projects, bring it online and to sell to pension funds. Infrastructure is not tied to the market so it's a good area. He doesn't think it's too late to get in since rates will probably remain low.
BUY WEAKNESS
BUY WEAKNESS
September 27, 2019
One of the enormous successes. Infrastructure is one of those asset classes that isn't affected by the market and they have long term assets that pay good returns. They have a fair amount of pricing power. Might want to take some profits, especially if we see slowdown.
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One of the enormous successes. Infrastructure is one of those asset classes that isn't affected by the market and they have long term assets that pay good returns. They have a fair amount of pricing power. Might want to take some profits, especially if we see slowdown.
PAST TOP PICK
PAST TOP PICK
September 19, 2019
(A Top Pick Sep 26/18, Up 28%) He inherited it from Enercare. He started purchasing the shares in September. They have a unique group of assets. You can't replicate the assets on the infrastructure side. It is pretty rich but you can’t beat it. Buy it on weakness. We have seen a flock back to these infrastructure assets this year.
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