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: $9.72
  • NAV: $9.69
  • Managed Assets: $353,380,989
  • Net Assets: $233,101,205
  • Distribution Frequency: Monthly
  • Most Recent Distribution: $0.1042
  • Premium/Discount: 0.10%
  • Inception Date: 9/26/2013
  • Fiscal Year End: November 30

As of 10/31/2017

Top 10 Public Holdings

  Name Symbol Percentage of Portfolio
1 MPLX LP MPLX 7.57%
2 Enterprise Products Partners LP EPD 7.42%
3 Energy Transfer Partners LP ETP 6.99%
4 Andeavor Logistics LP ANDX 6.57%
5 EnLink Midstream Partners LP ENLK 6.40%
6 Targa Resources Corp TRGP 6.22%
7 Williams Partners LP WPZ 6.14%
8 Western Gas Partners LP WES 5.56%
9 NuStar Energy LP NS 5.12%
10 Spectra Energy Partners LP SEP 4.98%

As of 9/30/2017

Diversified Midstream 37.25
Large-cap Petroleum Transportation & Storage 18.55
E&P Sponsored Gathering & Processing 12.30
Natural Gas Transportation & Storage 9.90
Gathering & Processing 7.32
Midstream C-Corps 6.22
Sponsored Petroleum Transportation & Storage 2.99
General Partner (1099) 2.44
General Partner (K-1) 1.04
Compression 1.03
Other fee-based  0.97

Sub-Sector Composition

As of 9/30/2017

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)
10/31/2017 494% 283%
9/30/2017 488% 281%
8/31/2017 488% 281%
7/31/2017 492% 292%
6/30/2017 505% 299%
5/31/2017 488% 292%
4/30/2017 459% 284%
3/31/2017 477% 292%
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 $69,500,000*

1-Month LIBOR
+ 95 bps

180 days notice

*Current borrowings as of 10/31/2017

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
   Display: LIST | GRID | TREE 

Brookfield Public Securities Group Expands Investments and Distribution Platforms Through Acquisition of Center Coast Capital and Certain Assets of Liberty Street Advisors and HRC

Center Coast Brings Significant MLP Experience to Brookfield's Leading Real Assets Business HRC Asset Acquisition Enhances Brookfield's Distribution Capabilities New York, NY – October 10, 2017 – Brookfield Asset Management’s Public Securities Group today announced that it has entered into a definitive agreement to acquire Center Coast Capital Holdings, LLC, an affiliate of Center Coast Capital Advisors, LP (“CCC”), a Houston-based... Read More
Posted by Lindy Swanson at Tuesday, Oct 10

Center Coast MLP & Infrastructure Fund (CEN) Q3 Update Call

Portfolio Managers Dan Tutcher, Rob Chisholm, and Jeff Jorgensen will provide a third 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. Wednesday, October 11th, 2017 11:00 AM EST DIAL IN: 1 (800) 697-5978 CONFIRMATION: 5371 142# About Center Coast Capital Advisors, LP Center Coast Capital Advisors, LP ("Center Coast")... Read More
at Wednesday, Sep 27

Center Coast MLP & Infrastructure Fund (CEN) Declares Monthly Distributions - August 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 September 9/14/2017 9/15/2017 9/27/2017 $0.1042 October 10/12/2017 10/13/2017 10/27/2017 $0.1042 November ... Read More
at Tuesday, Aug 22

Center Coast MLP & Infrastructure Fund (CEN) Q2 Update Call

Portfolio Managers Dan Tutcher, Rob Chisholm, and Jeff Jorgensen will provide a second 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, July 11th, 2017 11:00 AM EST DIAL IN: 1 (866) 294-4838 CONFIRMATION: 9875 393# About Center Coast Capital Advisors, LP Center Coast Capital Advisors, LP ("Center Coast") serves as the Fund's... Read More
at Thursday, Jun 29

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

Center Coast MLP & Infrastructure Fund (CEN) Declares Monthly Distributions Houston, Texas-May 23, 2017–Center Coast MLP & Infrastructure Fund (NYSE: CEN) (the “Fund”) declared today three regular monthly distributions of $0.1042 per common share.  Distribution Details: Month Ex-Dividend Date Record Date Payable Date Distribution per common share ... Read More
at Tuesday, May 23

Center Coast MLP & Infrastructure Fund (CEN) Q1 Update Call

Portfolio Managers Dan Tutcher and Jeff Jorgensen will provide a first 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.  Thursday, April 20th, 2017  11:00 Am EST DIAL IN: 1 (866) 352-2112 CONFIRMATION: 8051 207#   About Center Coast Capital Advisors, LP Center Coast Capital Advisors, LP ("Center... Read More
at Tuesday, Apr 11

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