BIPC - This Exceptional Dividend Stock Trades at a Bargain-Basement Price
2023-03-29 07:09:00 ET
Brookfield Infrastructure Partners (NYSE: BIP) is an incredible bargain these days. The global infrastructure operator trades at an extremely cheap value compared to the broader market and its corporate twin Brookfield Infrastructure Corporation (NYSE: BIPC) . Because of that, it offers an attractive dividend yield and significant upside potential. Those features make it look like a great investment.
Brookfield Infrastructure is coming off another strong year. The company grew its funds from operations ( FFO ) by 12% per unit/share last year to $2.71. It expects FFO per unit/share to expand by at least 10% this year. That would put it around $3 per unit/share.
The corporate shares currently trade at around $44. That price point implies that Brookfield Infrastructure Corporation trades at about 14.7 times its forward earnings. That's cheap, considering the S&P 500 's forward price-to-earnings (PE) ratio is 17.5.
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This Exceptional Dividend Stock Trades at a Bargain-Basement Price