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Inexpensive valuation at 9x FFO. Unique operating capability, because affiliation with BN lets them do counter-cyclical acquisitions. Access to capital for acquisitions last year when times were tough, reap benefits for years to come. A must-hold for both income and growth investors, for a nice total return. Yield is 5.4%.
Brookfield Infrastructure Partners (BIP.UN TSX)
Brookfield Infrastructure Partners is a global infrastructure company with a diversified portfolio of assets. It operates through the following segments, utilities, transport, midstream, and data. The utilities and transport businesses are the most significant and accounted for around two-thirds of cash flows last year. BIP’s size, sponsor support, diversified operating model, and global platform are unique and allow the company to recycle capital opportunistically and grow cash flows at an above-average rate. The shares currently trade around nine times funds from operations and have a dividend yield of 5.0 per cent.
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