| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 0/6 |
| Past Performance | 2/6 |
| Financial Health | 4/6 |
| Dividends | 4/6 |
UTF Stock Overview
Cohen & Steers Infrastructure Fund, Inc. is a closed-end equity fund launched by Cohen & Steers, Inc.
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$27.54 |
| 52 Week High | US$29.95 |
| 52 Week Low | US$24.81 |
| Beta | 1.02 |
| 1 Month Change | 0.33% |
| 3 Month Change | -1.04% |
| 1 Year Change | 1.74% |
| 3 Year Change | 24.17% |
| 5 Year Change | 36.40% |
| Change since IPO | 37.63% |
Recent News & Updates
UTF: Benefit From Infrastructure Spending With A Best-In-Class CEF
UTF is a closed-end fund that utilizes a utilities-focused portfolio to drive current income and total return. The fund is managed by Cohen & Steers and has a two-decade track record. Infrastructure spending will benefit the portfolio as America looks to spend $1 trillion on projects across the country. We dive into the fund and discuss UTF’s current outlook.
Where Fundamentals Meet Technicals: UTF - Yield 6.32%
UTF provides a diversified opportunity in utilities and infrastructure. Demand for the services of these companies is non-discretionary. Utilities offer a defensive investment strategy. UTF pays a monthly dividend. Biden's Massive Infrastructural bill should be tremendously beneficial to the utilities and infrastructure companies in UTF.
UTF: Opportunities, Risk Assessment, And Hedging
The Cohen & Steers Infrastructure Fund (UTF) is a popular choice for income investors through investment in securities issued by infrastructure companies. The fund provides an attractive ~6.7% of distribution rate, and potential growth opportunities with the Biden’s administration’s undergoing bill to invest in American infrastructure. However, the fund has also suffered large volatility during market turmoil, partially due to its use of leverage as a close-end fund. This article shows that by adding some diversification, such volatility risks can be hedged away substantially.
Evaluating CEFs: UTF Provides Dependable Income
UTF has a 6.55% yield that is quite attractive if the distribution can be maintained. I continue my series on CEFs where I look beyond the yield with a long-time favorite of mine, UTF. UTF has a great track record of increasing the NAV, only 1 distribution cut during the GFC, and a well-supported distribution.
UTF: Opportunities And My Reservations
The Cohen&Steers Infrastructure Fund is a popular choice for income investors through investment in securities issued by infrastructure companies. The fund currently features about 6.8% of distribution rate, and the infrastructure sector has demonstrated consistent ability for stable income and dividend. The Biden administration's undergoing bill to invest in American infrastructure, if materialized, will also benefit the sector. However, I hold some reservations for entry at this point due to the low distribution yield and low yield spread from a historical perspective.
Shareholder Returns
| UTF | US Capital Markets | US Market | |
|---|---|---|---|
| 7D | -2.9% | -1.6% | -0.5% |
| 1Y | 1.7% | 30.2% | 13.7% |
Return vs Industry: UTF underperformed the US Capital Markets industry which returned 30.2% over the past year.
Return vs Market: UTF underperformed the US Market which returned 13.7% over the past year.
Price Volatility
| UTF volatility | |
|---|---|
| UTF Average Weekly Movement | 1.7% |
| Capital Markets Industry Average Movement | 0.7% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.9% |
| 10% least volatile stocks in US Market | 2.4% |
Stable Share Price: UTF is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: UTF's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2004 | n/a | Adam Derechin | https://www.cohenandsteers.com/funds/details/infrastructure-fund |
Cohen & Steers Infrastructure Fund, Inc. is a closed-end equity fund launched by Cohen & Steers, Inc. The fund is managed by Cohen & Steers Capital Management, Inc. It invests in public equity markets of the United States. The fund invests primarily in value stocks of infrastructure companies across all market capitalizations. It employs fundamental analysis to make its investments.
Cohen & Steers Infrastructure Fund Fundamentals Summary
| UTF fundamental statistics | |
|---|---|
| Market Cap | US$2.58b |
| Earnings (TTM) | US$549.71m |
| Revenue (TTM) | US$93.91m |
4.7x
P/E Ratio27.5x
P/S RatioIs UTF overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| UTF income statement (TTM) | |
|---|---|
| Revenue | US$93.91m |
| Cost of Revenue | US$0 |
| Gross Profit | US$93.91m |
| Expenses | -US$455.80m |
| Earnings | US$549.71m |
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 5.87 |
| Gross Margin | 100.00% |
| Net Profit Margin | 585.35% |
| Debt/Equity Ratio | 38.0% |
How did UTF perform over the long term?
See historical performance and comparisonDividends
6.8%
Current Dividend Yield32%
Payout RatioDoes UTF pay a reliable dividends?
See UTF dividend history and benchmarks| Cohen & Steers Infrastructure Fund dividend dates | |
|---|---|
| Ex Dividend Date | Feb 15 2022 |
| Dividend Pay Date | Feb 28 2022 |
| Days until Ex dividend | 28 days |
| Days until Dividend pay date | 41 days |
Does UTF pay a reliable dividends?
See UTF dividend history and benchmarksValuation
Is Cohen & Steers Infrastructure Fund undervalued compared to its fair value and its price relative to the market?
4.7x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: UTF ($27.54) is trading above our estimate of fair value ($18.14)
Significantly Below Fair Value: UTF is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: UTF is good value based on its PE Ratio (4.7x) compared to the US Capital Markets industry average (15.9x).
PE vs Market: UTF is good value based on its PE Ratio (4.7x) compared to the US market (17.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate UTF's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: UTF is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (42.4x).
Future Growth
How is Cohen & Steers Infrastructure Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
3.7%
Forecasted Diversified Financials industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cohen & Steers Infrastructure Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Past Performance
How has Cohen & Steers Infrastructure Fund performed over the past 5 years?
-1.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: UTF has a large one-off gain of $498.8M impacting its June 30 2021 financial results.
Growing Profit Margin: UTF became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: UTF's earnings have declined by 1.5% per year over the past 5 years.
Accelerating Growth: UTF has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: UTF has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).
Return on Equity
High ROE: UTF's Return on Equity (22%) is considered high.
Financial Health
How is Cohen & Steers Infrastructure Fund's financial position?
Financial Position Analysis
Short Term Liabilities: UTF's short term assets ($61.0M) do not cover its short term liabilities ($975.5M).
Long Term Liabilities: UTF's short term assets ($61.0M) exceed its long term liabilities ($526.2K).
Debt to Equity History and Analysis
Debt Level: UTF's net debt to equity ratio (37.9%) is considered satisfactory.
Reducing Debt: UTF's debt to equity ratio has reduced from 40.6% to 38% over the past 5 years.
Debt Coverage: UTF's debt is not well covered by operating cash flow (8.8%).
Interest Coverage: UTF's interest payments on its debt are well covered by EBIT (3.7x coverage).
Balance Sheet
Dividend
What is Cohen & Steers Infrastructure Fund current dividend yield, its reliability and sustainability?
6.75%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: UTF's dividend (6.75%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: UTF's dividend (6.75%) is in the top 25% of dividend payers in the US market (3.44%)
Stability and Growth of Payments
Stable Dividend: UTF's dividend payments have been volatile in the past 10 years.
Growing Dividend: UTF's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.7%), UTF's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Management
How experienced are the management team and are they aligned to shareholders interests?
21.0yrs
Average board tenure
CEO
Adam Derechin (56 yo)
no data
Tenure
Mr. Adam M. Derechin, CFA, serves as the Chief Operating Officer and Executive Vice President at Cohen & Steers Capital Management, Inc. Mr. Derechin serves as the President and Chief Executive Officer at...
Board Members
Experienced Board: UTF's board of directors are seasoned and experienced ( 21 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: UTF insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Cohen & Steers Infrastructure Fund, Inc's employee growth, exchange listings and data sources
Key Information
- Name: Cohen & Steers Infrastructure Fund, Inc
- Ticker: UTF
- Exchange: NYSE
- Founded: 2004
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$2.581b
- Shares outstanding: 93.72m
- Website: https://www.cohenandsteers.com/funds/details/infrastructure-fund
Location
- Cohen & Steers Infrastructure Fund, Inc
- 280 Park Avenue
- 10th Floor
- New York
- New York
- 10017-1216
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/16 23:27 |
| End of Day Share Price | 2022/01/14 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.