Brookfield Infrastructure Partners

BIP.UN-T

TSE:BIP.UN

52.88
2.58 (5.13%)
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

Signal
Opinion
Expert
BUY
BUY
October 31, 2016

If you are looking for a steady yield this one is okay. He normally goes to the parent (BAM.A-T) because then he does not have to figure out which one to own at the time. Each one moves slightly differently at different times of the cycle.

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If you are looking for a steady yield this one is okay. He normally goes to the parent (BAM.A-T) because then he does not have to figure out which one to own at the time. Each one moves slightly differently at different times of the cycle.

John Kim

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Price
$44.560
Owned
Unknown
BUY
BUY
October 26, 2016

(Market Call Minute.) For a long-term hold, this would be a great time to enter.

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(Market Call Minute.) For a long-term hold, this would be a great time to enter.

COMMENT
COMMENT
October 13, 2016

Everybody loves infrastructure right now, and this one was there before pretty much anybody else. They are very, very good at it. He likes this.

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Everybody loves infrastructure right now, and this one was there before pretty much anybody else. They are very, very good at it. He likes this.

BUY
BUY
September 27, 2016

He likes the Brookfield group. They are terrific managers and have great assets. They like growth. Own them all and spread your risks.

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He likes the Brookfield group. They are terrific managers and have great assets. They like growth. Own them all and spread your risks.

BUY
BUY
September 23, 2016

Payout ratio is around 60%-70%. They want to raise their distributions 11%-13% annually. Just upped the dividend by 3.5%. He is modelling that they can grow their AFFO 18% compounded annually. The only bad thing is that you have to pay up for this. Right now it is trading at around 14X 2016 earnings versus a 5-year average of around 13.8.

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Payout ratio is around 60%-70%. They want to raise their distributions 11%-13% annually. Just upped the dividend by 3.5%. He is modelling that they can grow their AFFO 18% compounded annually. The only bad thing is that you have to pay up for this. Right now it is trading at around 14X 2016 earnings versus a 5-year average of around 13.8.

TOP PICK
TOP PICK
September 21, 2016

This fits in with his infrastructure theme. If you want to buy a global infrastructure company, this is the “go to” name. His dividend growth target is 7%-9% a year. FFO growth and cash flow growth of 12%-15% a year for the next few years.

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This fits in with his infrastructure theme. If you want to buy a global infrastructure company, this is the “go to” name. His dividend growth target is 7%-9% a year. FFO growth and cash flow growth of 12%-15% a year for the next few years.

BUY WEAKNESS
BUY WEAKNESS
September 16, 2016

The chart looks fine. This had been hanging around its highs, which is a bullish sign. Buyers are persistent and Sellers are not aggressive. As a result, there was a break out this year. Based on the range of the breakout, there should be at least another $10-$12 to the upside, taking you to $40-$50. Be patient and buy on retracement.

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The chart looks fine. This had been hanging around its highs, which is a bullish sign. Buyers are persistent and Sellers are not aggressive. As a result, there was a break out this year. Based on the range of the breakout, there should be at least another $10-$12 to the upside, taking you to $40-$50. Be patient and buy on retracement.

WEAK BUY
WEAK BUY
September 15, 2016

He has the parent. They have very, very good assets. It is a good story. If we ever do get inflation then this will be a very solid name to hold.

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He has the parent. They have very, very good assets. It is a good story. If we ever do get inflation then this will be a very solid name to hold.

COMMENT
COMMENT
September 14, 2016

He likes the Brookfield group. A well run company. This is going to be good in the future. We have to get some fiscal policy to try to match the monetary policy. Hopefully after the US election we will see some of that.

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He likes the Brookfield group. A well run company. This is going to be good in the future. We have to get some fiscal policy to try to match the monetary policy. Hopefully after the US election we will see some of that.

BUY
BUY
September 13, 2016

Infrastructure is quite attractive currently. This is one you could tuck away, and he wouldn’t mind owning it.

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Infrastructure is quite attractive currently. This is one you could tuck away, and he wouldn’t mind owning it.

PAST TOP PICK
PAST TOP PICK
September 7, 2016

(A Top Pick April 20/16. Up 22.07%.) They have done a good job. Part of the thesis is that they are going to be very opportunistic in finding places around the world to invest money in. Has a lot of respect for management.

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(A Top Pick April 20/16. Up 22.07%.) They have done a good job. Part of the thesis is that they are going to be very opportunistic in finding places around the world to invest money in. Has a lot of respect for management.

COMMENT
COMMENT
September 2, 2016

A lot of utility-like companies are expensive, which is the knock against it. Trading at 24X EBITDA. Has a pretty levered balance sheet. Brookfield entities typically grow through acquisition and have lots of vehicles to do that. Dividend yield of 4.9%. Too expensive for him.

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A lot of utility-like companies are expensive, which is the knock against it. Trading at 24X EBITDA. Has a pretty levered balance sheet. Brookfield entities typically grow through acquisition and have lots of vehicles to do that. Dividend yield of 4.9%. Too expensive for him.

COMMENT
COMMENT
July 27, 2016

(Market Call Minute.) This is a fantastic collection of assets. It has a weird payout if you own outside of an RSP. Prefers and owns Brookfield Asset Management (BAM-N).

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(Market Call Minute.) This is a fantastic collection of assets. It has a weird payout if you own outside of an RSP. Prefers and owns Brookfield Asset Management (BAM-N).

COMMENT
COMMENT
June 21, 2016

Sold half his position recently. A good company. He is a bit hesitant on their allocation of projects. They had a big allocation towards Brazil, and doesn’t see that economy performing well. Pays a good dividend in US$s.

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Sold half his position recently. A good company. He is a bit hesitant on their allocation of projects. They had a big allocation towards Brazil, and doesn’t see that economy performing well. Pays a good dividend in US$s.

COMMENT
COMMENT
May 18, 2016

Great company. They are deriving growth all over the planet. They will deploy capital in places where things are bad and capital is fleeing. That is how they get assets at a discount to fair value, and how they generate growth. The assets they buy often come with long-term contracts providing stable and growing cash flows. Also, have organic growth investment opportunities. Currently they are interested in Brazil, where the economy is pretty bad. 5.2% dividend yield.

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Great company. They are deriving growth all over the planet. They will deploy capital in places where things are bad and capital is fleeing. That is how they get assets at a discount to fair value, and how they generate growth. The assets they buy often come with long-term contracts providing stable and growing cash flows. Also, have organic growth investment opportunities. Currently they are interested in Brazil, where the economy is pretty bad. 5.2% dividend yield.

TOP PICK
TOP PICK
May 4, 2016

It has a 13% growth rate. If they buy the Australian asset, he sees it as being 8% accretive. He thinks the dividend will continue to grow.

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It has a 13% growth rate. If they buy the Australian asset, he sees it as being 8% accretive. He thinks the dividend will continue to grow.

BUY
BUY
April 21, 2016

The name is synonymous with high quality. It makes sense in an overall portfolio. He has found better places to find growth. He targeted other yield plays such as ENB-T. He would be a buyer otherwise. The yield is safe.

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The name is synonymous with high quality. It makes sense in an overall portfolio. He has found better places to find growth. He targeted other yield plays such as ENB-T. He would be a buyer otherwise. The yield is safe.

TOP PICK
TOP PICK
April 20, 2016

This as a very opportunistic capital allocator. Instead of thinking of the actual assets, it is important to think of the people behind the assets. The management team is very good and rock solid, going around the world finding the best place to make money. They find areas of distress. Trading at a reasonable multiple of FFO, and more importantly they can take significant amounts of liquidity and deploy it into distressed parts of the market. Today one of them is the US energy sector and Brazil. Dividend yield of 5.9%.

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This as a very opportunistic capital allocator. Instead of thinking of the actual assets, it is important to think of the people behind the assets. The management team is very good and rock solid, going around the world finding the best place to make money. They find areas of distress. Trading at a reasonable multiple of FFO, and more importantly they can take significant amounts of liquidity and deploy it into distressed parts of the market. Today one of them is the US energy sector and Brazil. Dividend yield of 5.9%.

BUY
BUY
February 9, 2016

Likes the name and you are getting an attractive dividend. Very well diversified. They own everything from toll roads to terminals. Almost exactly the kind of name you want to own in a low interest rate environment, when you are seeing money flow into defensive sectors. Very defensive name. Dividend yield of 4.6%.

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Likes the name and you are getting an attractive dividend. Very well diversified. They own everything from toll roads to terminals. Almost exactly the kind of name you want to own in a low interest rate environment, when you are seeing money flow into defensive sectors. Very defensive name. Dividend yield of 4.6%.

COMMENT
COMMENT
February 2, 2016

Owns this in his income portfolio, but not in his growth portfolio. This stock has not broken its long-term trend line. In the near term it probably has some support at around current levels. Feels the dividend is sustainable and is solid. If you are an income, long-term investor, you could probably own this and is probably an OK time to buy it right now. It is probably going to move sideways for the time being.

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Owns this in his income portfolio, but not in his growth portfolio. This stock has not broken its long-term trend line. In the near term it probably has some support at around current levels. Feels the dividend is sustainable and is solid. If you are an income, long-term investor, you could probably own this and is probably an OK time to buy it right now. It is probably going to move sideways for the time being.

TOP PICK
TOP PICK
January 28, 2016

(His top picks are dividend growers.) One of the publicly traded spinoffs of Brookfield Asset Management (BAM.A-T). This is a good way for retail investors to get exposure to infrastructure assets. Dividend yield of 5.73%.

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(His top picks are dividend growers.) One of the publicly traded spinoffs of Brookfield Asset Management (BAM.A-T). This is a good way for retail investors to get exposure to infrastructure assets. Dividend yield of 5.73%.

COMMENT
COMMENT
January 21, 2016

As long as we are not in a waterfall, this is a good name. He is seeing 13% from funds operation growth over the next couple of years, from a pending Australian acquisition, growth in Brazil and toll roads in India. One of the problems is that it reports in US$ and only about 25% of their business is in the US, but 75% of their FFO (funds from operations) is hedged over the next 18-25 months to the US$. Has a good dividend which is growing. The kind of a name he would be nibbling on when he feels that the macro is a little more settled.

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As long as we are not in a waterfall, this is a good name. He is seeing 13% from funds operation growth over the next couple of years, from a pending Australian acquisition, growth in Brazil and toll roads in India. One of the problems is that it reports in US$ and only about 25% of their business is in the US, but 75% of their FFO (funds from operations) is hedged over the next 18-25 months to the US$. Has a good dividend which is growing. The kind of a name he would be nibbling on when he feels that the macro is a little more settled.

COMMENT
COMMENT
January 20, 2016

He wouldn’t be a buyer, because he doesn’t buy stocks over $10. However, he can see why people would buy it. It is a good company. Debt load is high which he doesn’t like. Infrastructure right now is very hot and the government is going to put a lot of money into it. A well-managed company.

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He wouldn’t be a buyer, because he doesn’t buy stocks over $10. However, he can see why people would buy it. It is a good company. Debt load is high which he doesn’t like. Infrastructure right now is very hot and the government is going to put a lot of money into it. A well-managed company.

PARTIAL BUY
PARTIAL BUY
January 11, 2016

Infrastructure is an important part of the portfolio, but don’t bet the farm on it. It is sensitive to interest rates. Take a partial position and wait for a pullback.

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Infrastructure is an important part of the portfolio, but don’t bet the farm on it. It is sensitive to interest rates. Take a partial position and wait for a pullback.

BUY
BUY
December 11, 2015

A good, long term hold for an income investor that is also looking for growth. This company is looking to buy long life assets with a very long time horizon.

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A good, long term hold for an income investor that is also looking for growth. This company is looking to buy long life assets with a very long time horizon.

COMMENT
COMMENT
October 28, 2015

He is a massive fan of the Brookfield group of companies. There are a whole bunch of different entities, so he just prefers the parent company Brookfield Asset Management (BAM.A-T) and let all the benefits accrue. This has been a great investment.

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He is a massive fan of the Brookfield group of companies. There are a whole bunch of different entities, so he just prefers the parent company Brookfield Asset Management (BAM.A-T) and let all the benefits accrue. This has been a great investment.

BUY
BUY
May 6, 2015

In a rising rate environment, a yield vehicle tends to underperform, because you can get risk free money cheaper than you could before. Overall he feels the Brookfield family of funds and investments is fantastic.

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In a rising rate environment, a yield vehicle tends to underperform, because you can get risk free money cheaper than you could before. Overall he feels the Brookfield family of funds and investments is fantastic.

HOLD
HOLD
March 31, 2015

One of the more unique businesses within his portfolios. Their business strategy is to buy undervalued assets that are sometimes in trouble. They like to recapitalize it, restructure it, grow the business and then sell it and recycle the capital. A very difficult business model to replicate. The 5% distribution model is solid. It has been tough for them to do deals, which is why the stock has held back a little. Recently went into France and expanded into a tower telecom. He is comfortable holding this, but wouldn’t be adding to it.

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One of the more unique businesses within his portfolios. Their business strategy is to buy undervalued assets that are sometimes in trouble. They like to recapitalize it, restructure it, grow the business and then sell it and recycle the capital. A very difficult business model to replicate. The 5% distribution model is solid. It has been tough for them to do deals, which is why the stock has held back a little. Recently went into France and expanded into a tower telecom. He is comfortable holding this, but wouldn’t be adding to it.

COMMENT
COMMENT
February 3, 2015

He has very little visibility to understand how to think about earnings. A well-run company. He doesn’t understand the economics for holding this company for a longer period of time. The products that infrastructure companies tend to be in are very, very levered with high amounts of debt. (See comments under KKR-N.)

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He has very little visibility to understand how to think about earnings. A well-run company. He doesn’t understand the economics for holding this company for a longer period of time. The products that infrastructure companies tend to be in are very, very levered with high amounts of debt. (See comments under KKR-N.)

COMMENT
COMMENT
January 23, 2015

Likes that this a global play. Just added some telco assets in Europe. Likes the way the company is run. They are very good at acquiring assets. If you are looking to diversify out of pipelines and utilities and into infrastructure, this is a good one.

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Likes that this a global play. Just added some telco assets in Europe. Likes the way the company is run. They are very good at acquiring assets. If you are looking to diversify out of pipelines and utilities and into infrastructure, this is a good one.

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