Closed-End Fund

Overview

Center Coast MLP & Infrastructure Fund (NYSE: CEN) is an actively managed fund that invests in a portfolio of Master Limited Partnerships (MLPs) and energy infrastructure companies. The Fund is structured to provide investors with:

  • Attractive total return potential including monthly distributions and capital appreciation
  • A core portfolio of high quality midstream MLPs focused on durability of long term cash flows
  • A tactical opportunistic sleeve designed to capitalize on market dislocations amongst upstream, midstream, and downstream MLPs and energy infrastructure investments
  • Access to private investment opportunities within the energy infrastructure sector on a co-invest and direct invest basis
  • Simplified tax reporting: Investors in the Fund will receive a single Form 1099 as opposed to receiving a schedule K-1 from each MLP

 

Investment Objective

The Fund’s investment objective is to provide a high level of total return with an emphasis on distributions to shareholders. The “total return” sought by the Fund includes appreciation in the net asset value of the Fund’s Common Shares and all distributions made by the Fund to its Common Shareholders, regardless of the tax characterization of such distributions, including distributions characterized as return of capital

Fund Facts

  • Symbol: CEN
  • CUSIP: 151461100
  • Exchange: NYSE
  • Market Price: $13.03
  • NAV: $12.88
  • Managed Assets: $409,469,887
  • Net Assets: $272,106,547
  • Distribution Frequency: Monthly
  • Most Recent Distribution: $0.1042
  • Premium/Discount: 1.16%
  • Inception Date: 9/26/2013
  • Fiscal Year End: November 30

As of 2/28/2017

Top 10 Public Holdings

  Name Symbol Percentage of Portfolio
1 Enterprise Products Partners LP EPD 7.74%
2 Tesoro Logistics LP TLLP 7.49%
3 MPLX LP MPLX 7.30%
4 EnLink Midstream Partners LP ENLK 6.55%
5 Buckeye Partners LP BPL 6.17%
6 Targa Resources Corp TRGP 5.88%
7 TC PipeLines LP TCP 5.09%
8 Spectra Energy Partners SEP 4.93%
9 NuStar Energy LP NS 4.73%
10 Plains All American Pipeline LP PAA 4.25%

As of 12/31/2016

 

Diversified Midstream 28.82
Large-cap Petroleum Transportation & Storage 24.25
E&P Sponsored Gathering & Processing 11.24
Natural Gas Transportation & Storage 11.01
Large-cap Gathering & Processing 7.52
Midstream C-Corps 6.45
Sponsored Petroleum Transportation & Storage 4.72
General Partner (K-1) 2.23
Small-cap Gathering & Processing 2.18
Compression 1.02
Fuel Distribution & Marketing 0.49
Other fee-based 0.07

Sub-Sector Composition

As of 12/31/2016

Price/NAV History

 

NAV Plus Cumulative Distributions

Distribution History

From: to:
Asset Coverage Ratios under
the Investment Company Act of 1940 (“1940 Act”)
Date Senior Credit Facility Debt
(300% minimum)
Total leverage
(debt and preferred stock)
(200% minimum)
2/28/2017 498% 294%
1/31/2017 470% 294%
12/31/2016 426% 263%
11/30/2016 422% 267%
10/31/2016 401% 266%
9/30/2016 434% 260%
Credit
Facilities
Current Borrowings Rate Maturity
Term Loan Facility $81,700,000

1-Month LIBOR
+ 95 bps

180 days notice

 

Preferred Stock CUSIP Current Outstanding Rate Maturity
Series A 1514612#6 $50,000,000 4.29% 09/22/2026
Security Fitch Rating
MRPS  
Series A A

Center Coast MLP & Infrastructure Fund (CEN) Declares Monthly Distributions - January 2017

Center Coast MLP & Infrastructure Fund (NYSE: CEN) (the "Fund") declared today four regular monthly distributions of $0.1042 per common share.  Distribution Details: Month Ex-Dividend Date Record Date Payable Date Distribution per Common Share February 2/8/2017 2/10/2017 2/24/2017 $0.1042 March 3/8/2017 3/10/2017 3/29/2017 $0.1042 April 4/12/2017... Read More
at Wednesday, Jan 25

Center Coast MLP & Infrastructure Fund (CEN) Q4 Update Call

Portfolio Managers Rob Chisholm and Jeff Jorgensen will provide a fourth quarter update on the Center Coast MLP & Infrastructure Fund, as well as share their thoughts on underlying MLP fundamentals and the continued growth opportunities in the sector. Tuesday, January 24th, 2017 11:00 AM EST DIAL IN: 1 (866) 352-2112 CONFIRMATION: 7707 905#   About Center Coast Capital Advisors, LP Center Coast Capital Advisors, LP ("Center Coast") serves as the Fund's... Read More
at Wednesday, Jan 18