Brookfield Infrastructure Partners (BIP) — Valuation Remains Attractive

Do you remember in 2012 when I estimated Brookfield Infrastructure Product’s (BIP) value and thought it was a good buy? In my last post I discussed how it worked out very well for investors who bought it back then. So, is it still a good investment in 2017? Yes, I believe so and this updated valuation shows why BIP […]

Update on Brookfield Infrastructure Partners (BIP)

Brookfield Infrastructure Partners (BIP) was launched in 2008 and grew to become one of the world’s largest owners and operators of infrastructure assets. When we first discussed Brookfield Infrastructure a few years ago we were enthusiastic about their prospects. Let’s check up on them and see what we might expect from them going forward. You’ll recall, infrastructure […]

Buying More Kinder Morgan, Inc. (KMI)

Kinder Morgan, Inc. (KMI) & Brookfield Infrastructure Partners (BIP) just bought [Source] the remaining 53% of Natural Gas Pipeline Company of America LLC (NGPL) for about $242 million equity but both companies also took on NGPL’s $3 billion in debt, about $1.5 billion each. NGPL: NGPL has about 9,200 miles of pipelines, 1 million horsepower […]

Brookfield Infrastructure (BIP) Reports 1Q15; Solid Quarter of Progress

Financial Summary: Funds from Operations (FFO), BIP’s measure of cash flow, for the first quarter 2015 (1Q15) was $186 million or $0.89/unit unchanged when compared to 1Q14. Results were unchanged as contributions from new investments and improvements in existing businesses were largely offset by a $15 million impact foreign exchange movements resulting from the strong […]

Brookfield Infrastructure (BIP) Reports 2014 Results; Another Good Year

Brookfield Infrastructure Partners (BIP) reported results [Source] for full year 2014 with a total return of 12% compared to its target total return of 12-15%. In the past three and five years annualized returns were 20% and 26% respectively. Funds from Operations (FFO), BIP’s measure of cash flow, for the full year 2014 was $724 […]

Brookfield Infrastructure Partners (BIP) Thesis Update

In 2012 we estimated Brookfield Infrastructure Partners (BIP) [Source] would be $40-46/unit (share) in a 3-5 year time frame. The investment thesis is playing out and BIP has reached the lower end of the range a little early for a total return of 43% or about 16%/year. While investors may consider selling to lock in […]

Brookfield Infrastructure (BIP) 3Q14 Update: Strong Quarter to Underpin Future Returns

Brookfield Infrastructure (BIP) reported a strong 3Q14 [Source] and continues to execute well. Importantly management provides examples of what BIP is doing each quarter to continue their performance in the future through: “(i) the quality of our assets (ii) our track record of internally generated growth (iii) our global business development platform with local presence and (iv) our full […]

Brookfield Infrastructure (BIP) Reports 2Q14 Results; It Remains a Solid Long Term Investment

Before jumping into the quarterly report let’s take a moment to review why we’re invested in this business. Good Business: Brookfield Infrastructure Partners (BIP) is invested heavily in a class of assets that became known as infrastructure assets and established a preeminent position. Infrastructure assets are long life and require relatively minimal maintenance capital expenditures, they […]

Brookfield Infrastructure (BIP) Reports 1Q14 Results; Remains a Solid Investment

Before jumping into the quarterly report (which was good by the way) let’s take a moment to reflect on why we’re invested in this business. Good Business: Brookfield Infrastructure Partners (BIP) is invested heavily in the class of assets that became known as infrastructure assets where they seized an early opportunity to establish a preeminent […]

Brookfield Infrastructure (BIP) Reports 4Q13 Results; 2013 was a Good Year

Brookfield Infrastructure reported results for full year 2013 with a total return of 16% compared to its target total return of 12-15%. This is lower than the past three and five years, where annualized returns were outstanding at 29% and 36% respectively. As much as those returns are enjoyable, they cannot be sustained at that […]