Growth stocks typically trade at premium values. Investors highly prize growth because companies that increase their earnings at above-average rates have historically created the most value for their shareholders over the long term.

Brookfield Infrastructure Partners (NYSE: BIP) certainly qualifies as a growth stock. The global infrastructure giant has grown its funds from operations (FFO) at a more than 10% annual rate over the last decade. It's in an excellent position to continue growing at a double-digit rate.

Despite that, its unit price has plunged nearly 40% from its 52-week high. That has this brilliant growth stock trading at such a cheap value that I couldn't resist adding to my position.

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Source Fool.com