SouthShore

Buying Into the Global Infrastructure Build

Look at MDU Resources (MDU) for the US infrastructure build & fix with an energy hedge built in. They will benefit from the highway spending bill. MDU has a long track record, good dividend growth, and E&P assets in the Bakken.

NuStar (NS) is an energy infrastructure MLP with an 8% yield. They operate in the US and parts of Europe and just bought into asphalt refining on the US East coast. Road paving asphalt sales will account for up to 20% of revenues and the rest of their biz is regulated storage/pipelines with inflation protection. All MLP's require access to credit and equity issuances for growth. Fear here combined with hedge funds and CEF's dumping MLP PIPE and common shares has provided a timely opportunity to buy into these assets as credit fears subside.

I agree that American Tower (AMT) is a great infrastructure play. AMT operates in the US, Mexico, and Brazil, and continues to grow. I would expect that AMT will eventually run out of growth opportunities and begin to pay out dividends - as a cash cow. Until then AMT has been consistently buying back shares in addition to expanding their towers. They also just increased the expected lifetime estimates for their towers.

Also, you seemed to miss the standards, such as CBI, FLUOR, BGC, ABB, etc. Perhaps you could even pair BGC with PCU for a hedge on copper pricing.