Should You Invest in Brookfield Infrastructure Partners (BIP)?
Emeth Value Capital, an investment Management Company, released its second-quarter investor letter. A copy of the same can be downloaded here. Year-to-date, the fund returned 19.27% compared to the MSCI ACWI Index’s 14.19% return. Since inception, the fund returned 18.53%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Emeth Value Capital highlighted stocks like Brookfield Infrastructure Partners L.P. (NYSE:BIP) in the second quarter 2023 investor letter. Headquartered in Hamilton, Bermuda, Brookfield Infrastructure Partners L.P. (NYSE:BIP) is an infrastructure company that owns and operates utilities, transport, midstream, and data businesses. On October 5, 2023, Brookfield Infrastructure Partners L.P. (NYSE:BIP) stock closed at $28.00 per share. One-month return of Brookfield Infrastructure Partners L.P. (NYSE:BIP) was -11.28%, and its shares lost 18.68% of their value over the last 52 weeks. Brookfield Infrastructure Partners L.P. (NYSE:BIP) has a market capitalization of $12.908 billion.
Emeth Value Capital made the following comment about Brookfield Infrastructure Partners L.P. (NYSE:BIP) in its Q2 2023 investor letter:
"Brookfield Corporation has $7.6 billion invested through Brookfield Infrastructure Partners L.P. (NYSE:BIP), a publicly traded permanent capital vehicle that is one of the largest owners and operators of critical global infrastructure. The entity was demerged from Brookfield in 2008 and was seeded with interests in 1.2 million acres of timberlands in Canada and the United States and interests in 10,900 kilometers of electricity transmission assets in Chile, Brazil, and Canada. The oldest of these assets, Great Lakes Power Transmission Co., an electricity transmission system based in Ontario, was acquired by Brascan in 1982. Brookfield Infrastructure Partners has significantly enhanced the quality, scale, and diversity of its portfolio over the last fifteen years. The timber assets were fully divested, and rail networks, toll roads, diversified terminals, last-mile utilities, midstream energy, and digital infrastructure were added. The partnership now owns many of the world’s premier infrastructure assets, several of which were acquired for value during a dislocation. For example, in 2020 Brookfield Infrastructure Partners acquired a six percent ownership interest in Sabine Pass, the largest LNG export facility in the United States. The transaction occurred amid unprecedented lows in natural gas pricing and an oversupplied LNG market. The partnership paid $1 billion for its interest, which was funded with forty percent equity and sixty percent low cost debt. In 2022, Sabine Pass generated $2.5 billion in earnings, or approximately $120 million in earnings against Brookfield Infrastructure Partners’ $400 million equity investment, equating to a thirty percent cash on cash yield…” (Click here to read the full text)
A team of engineers surveying a construction site in preparation for a new underground infrastructure. Editorial photo for a financial news article. 8k. --ar 16:9
Brookfield Infrastructure Partners L.P. (NYSE:BIP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Brookfield Infrastructure Partners L.P. (NYSE:BIP) at the end of second quarter which was 11 in the previous quarter.
We discussed Brookfield Infrastructure Partners L.P. (NYSE:BIP) in another article and shared the list of largest MLPs. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
