Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Brookfield Infrastructure Is Soaring Today


Units of Brookfield Infrastructure Partners (NYSE: BIP) had surged nearly 10% by 10:30 a.m. ET on Wednesday. Meanwhile, shares of its economically equivalent corporate twin, Brookfield Infrastructure Corporation (NYSE: BIPC), were up around 7%. The global infrastructure giant reported solid third-quarter results and agreed to a transformative deal to buy Cyxtera's data centers out of bankruptcy. 

Brookfield Infrastructure grew its funds from operations (FFO) by 7% to $556 million in the third quarter. The main driver was organic growth. Brookfield was able to raise rates with inflation while also getting a boost from finishing $1 billion of capital projects in the quarter. These catalysts helped offset the impact of $2 billion of asset sales that closed during the second quarter. 

Those sales were part of the company's active capital recycling strategy to sell mature assets and redeploy the proceeds into higher-return opportunities. Brookfield recently closed three deals and has another in the pipeline. The company noted that these deals will provide it "with some of the best risk-adjusted returns we have seen in the last decade."

Continue reading


Source Fool.com

Brookfield Corp. Stock

€39.30
0.000%
There is no change in the price for Brookfield Corp. today.
We see a rather positive sentiment for Brookfield Corp. with 14 Buy predictions and 1 Sell predictions.
As a result the target price of 42 € shows a slightly positive potential of 6.87% compared to the current price of 39.3 € for Brookfield Corp..
Like: 0
BIP
Share

Comments