Brookfield Infrastructure Partners L.P. Q1-2017 Earnings, Price Target Update
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Brookfield Infrastructure Partners LP owns assets totaling $23B (including Brookfield Asset Management ( BAM.A) - 29% share) as of Mar-31-2017, up by $1B from last year. The operating business are comprised of a diversified portfolio of infrastructure businesses including natural gas and electric utilities, pipeline and power transmission lines, ports, railways, toll roads and communications tower maintenance businesses. Operations are grouped into four segments- utility, energy, transport and communications infrastructure and are located in North and South America, Australia, and Europe. Financial statements are denominated in US dollars; operations are conducted in US, EURO and Australian currencies. By currency - 22%, 23%, 20%, 18% and 17% of FFO is generated in USD, AUD, GBP, BRL, and other, respectively. By segment Utilities contributes 37% of AFFO, Transport-35%, Energy -21% and Communications-6%.
Brookfield Infrastructure LP is a Bermuda registered limited partnership that is owned by Brookfield Infrastructure Partners LP (BIP.UN-TSX, BIP-NYSE). At inception in Dec-07 the ownership split was 60% for the Brookfield Infrastructure Partners LP and 40% owned by Brookfield Asset Management (BAM.A) and 60% was publicly owned. As of Dec-31-2011 this changed to 70% and 30% split respectively. At Mar-31-2017, Brookfield Asset Management owned approximately 30%.
Brookfield Asset Management (BAM.A) has total assets of approximately $280B of which approximately 65% is invested in Brookfield Property Partners L.P. (BPY.UN), Brookfield Renewable Partners L.P. (BEP.UN); Brookfield Infrastructure Partners L.P. (BIP.UN) and Brookfield Business Partners L.P, (BBU). On its own Brookfield Infrastructure Partners represents approximately 10% of Brookfield Asset Management's total assets.
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