Daily Brief Utilities: Brookfield Infrastructure Partners L.P., Eversource Energy, Fortis /Canada and more

• Diversified Pure-Play Infrastructure Leader: Brookfield Infrastructure Partners (BIP) is one of the largest publicly traded, globally diversified owners and operators of critical infrastructure networks across utilities, transport, midstream, and data sectors. This diversification provides resilience and exposure to various macroeconomic tailwinds.
• Proven Value Creation Model: BIP employs a disciplined, value-oriented investment strategy focused on acquiring high-quality assets, enhancing their performance through operational expertise, and opportunistically recycling capital from mature assets into higher-growth opportunities. The company targets a 12-15% total return on its investments.
• Commitment to Shareholder Returns: The partnership has a strong track record of delivering long-term growth in Funds From Operations (FFO) per unit and aims for annual distribution growth of 5-9%. This focus on sustainable and growing distributions is a cornerstone of its value proposition for institutional investors.

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• Eversource Energy reported its third-quarter 2025 financial results, evidencing both strategic progress and challenges.
• The company’s GAAP earnings for the quarter were $0.99 per share, factoring in a significant nonrecurring charge of $75 million related to its offshore wind liability, offset by tax benefits.
• Excluding this charge, non-GAAP earnings were $1.19 per share, up from $1.13 the prior year, mostly driven by infrastructure investments and strategic rate increases across various segments, including natural gas and electric distribution.

• Fortis Inc.’s third-quarter 2025 earnings call highlights a structured approach towards achieving regulated growth, complemented by strategic asset sales to refine their investment profile.
• The recent divestiture of Fortis Turks and Caicos (FortisTCI) and investments in Belize underscore a transition to 100% regulated assets, which aims at streamlining the company’s operational framework towards reducing risk and volatility.
• Operational efficiency remains a core tenet of Fortis’s strategy.