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+14% Yield, Access To A Private MLP And Rising NAV: Center Coast MLP & Infra Fund

Published Thu, 11 Apr 2019 09:17:40 -0400 on Seeking Alpha

Co-produced with Rida Morwa of High Dividend Opportunities.
Investment Thesis
Center Coast MLP & Infrastructure Fund (CEN) offers a covered monthly distribution payment to investors. Focused on MLPs and infrastructure, it allows investors of all stripes to benefit from the MLPs without having to worry about a K-1 at tax time.
Fund Overview
CEN invests heavily in big name MLPs. It is a closed-end fund (CEF) managed by Brookfield Asset Management (BAM), which lends its expertise in finding high-quality investments at bargain valuations.

Source: CEN Factsheet
These sectors have been beaten down lately, taking CEN's NAV and market price with it. Currently, CEN trades closely with its Net Asset Value (NAV) and currently trades at a premium to its NAV.
Data by YCharts
The positive outlooks in the MLP and quality of CEN's holdings continue to bring this fund into the premium territory. CEN's top ten public holdings tell a tale regarding their choices (updated last by CEN on 12/31/2018):
Company Ticker Percent Enterprise (EPD) 8.54 Williams Cos Inc. (WMB) 8.22 Energy Transfer LP (ET) 8.11 Targa Resources Corp. (TRGP) 6.38 Plains All American Pipeline LP (PAA) 6.28 Western Gas Partners (Now Western Midstream Partners) (WES) 6.18 NuStar Energy LP (NS) 5.67 Enbridge Inc. (ENB) 5.12 Andeavor Logistics LP (ANDX) 4.94 EnLink Midstream Partners LP (Now EnLink Midstream) (ENLC) 4.93
These various MLPs are seeing strength this year since December's... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
ENLINK MIDSTREAM LLC 8.17   0.0 -0.78 1.13 13.79
ANDEAVOR LOGISTICS LP 32.17   12.5 2.57 4.12 12.01
ENERGY INCOME AND GROWTH FUND 21.37   0.0 0.00 0.00 10.84
FIRST TRUST MLP AND ENERGY INCOME FUND 11.38   36.7 0.31 0.00 10.50
WESTERN GAS PARTNERS 24.62   15.5 1.59 2.47 9.98
TARGA RESOURCES 39.28   0.0 -1.32 3.64 9.30
NUSTAR ENERGY 26.89   0.0 -6.61 2.40 8.95
PLAINS ALL AM. PIPELINE 21.20   5.3 3.99 1.44 6.75
ENBRIDGE 34.70   19.7 1.76 2.21 6.38
ENTERPRISE PRODUCTS 28.68   12.4 2.31 1.76 6.13
WILLIAMS 24.29   303.6 0.08 1.52 6.12
PEMBINA PIPELINE 36.91   16.1 2.29 1.80 4.86
KKR & CO LP 28.05   10.7 2.63 0.50 1.86
BROOKFIELD ASSET MANAGEMENT 53.61   18.4 2.92 0.64 1.22

ENLINK MIDSTREAM LLC - ENLC
ENLINK MIDSTREAM LLC - ENLC  


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