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In the News

5 Closed-End Fund Buys In The Month Of August 2023 (Plus 2 I Sold)
This month, I added to 5 different closed-end funds, but it came from the result of selling off 2 for swaps as well. Swap opportunities come up as we can exploit the discount/premium mechanics in closed-end funds. Overall, I have continued to stick with a low or no-leverage theme in this environment as I look to de-risk my CEF portfolio.

Equity CEFs: So DPG Cuts, But GUT Won't Have To?
It's been a rough year for utility stocks and utility focused CEFs as interest rates have moved up making their high dividend yields less attractive. So despite a bull market in just about everything this year, the SPDR Utility ETF (XLU) is actually down -3.5% YTD and -6.6% over the last year. Now utilities can mean a lot more than just generating, storing or transmitting electricity, particularly if you throw in infrastructure stocks like pipelines, natural gas, water, alternative energy, etc.

DPG: The Big Cut
Duff & Phelps Utility and Infrastructure Fund investors experienced a significant distribution cut, causing shares of DPG to fall substantially. The cut was due to increased leverage expenses and overall market conditions, making the previous distribution level unsustainable. Despite the cut, the fund's distribution rate remains attractive at 8.3%, and the fund is now trading at a discount, making it more interesting for investors.

CEF Weekly Review: Watch Out For CEF Triple Whammies
We review CEF market valuation and performance through the third week of June and highlight recent market action. CEFs were mostly up on the week due to improving risk sentiment. We discuss a common CEF triple whammy that investors ought to be aware of.

Equity CEFs: I Continue To Add To DPG
If you go strictly on valuations, what's happening right now is one of the most ridiculous examples of CEF irregularities that I have ever seen. The highly-regarded Duff & Phelps Utility & Infrastructure fund cut its quarterly distribution last Thursday by -40%, from $0.35/share to $0.21/share. And since then, DPG has lost roughly -25% in MKT price, dropping from a +13.5% premium at $12.72 last Thursday to a current -15% discount at around $9.45.

Weekly Closed-End Fund Roundup: March 12, 2023
Three out of 22 CEF sectors positive on price and 5 out of 22 sectors positive on NAV last week. Delaware/Abrdn mergers are closed.

DPG: A Bastion Of Stability In Uncertain Times, But A Pricey One
Investors are undoubtedly looking for some safety considering that we have seen three bank failures in less than a week. Duff & Phelps Utility and Infrastructure Fund invest in a portfolio of utilities and infrastructure companies that should be able to provide this safety considering their inherent stability.

DPG: Fine Fund, High Premium
DPG has continued to push into a higher premium after breaking into premium territory in 2021 for the first time since its inception. The fund's distribution has been steady, and although the NAV rate is elevated, I wouldn't expect a cut.

DPG: Underperforming The Index But Might Make Sense If The Price Drops
Utilities and infrastructure companies tend to make good investments during uncertain times because of their overall stability and reasonably high yields. DPG invests in a portfolio of these assets with the goal of providing its investors with a high level of current income.

DPG: Leverage Will Be More Costly, But Income Is Stable
Now that DPG is trading down and yields are going above 10% by a decent margin, one might want to consider it for its income and exposures. Oil and gas infrastructure, whether commodity exposed or not, are decent investments right now.
DPG Financial details
DPG Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2022-10-31
Metric | History | 2018-10-31 | 2019-10-31 | 2020-10-31 | 2021-10-31 | 2022-10-31 |
---|---|---|---|---|---|---|
Revenue per share | -0.75 | 2.55 | -2.86 | 3.25 | -0.33 | |
Net income per share | -0.79 | 2.52 | -2.89 | 3.22 | -0.33 | |
Operating cash flow per share | 1.13 | 1.39 | 2.89 | 1.21 | 1.87 | |
Free cash flow per share | 1.13 | 1.39 | 2.89 | 1.21 | 1.87 | |
Cash per share | 0 | 0 | 0.17 | 0 | 0.13 | |
Book value per share | 15.21 | 16.39 | 12.1 | 13.94 | 12.15 | |
Tangible book value per share | 15.21 | 16.39 | 12.1 | 13.94 | 12.15 | |
Share holders equity per share | 15.21 | 16.39 | 12.1 | 13.94 | 12.15 | |
Interest debt per share | 4.42 | 4.49 | 3.58 | 4.57 | 4.17 | |
Market cap | 503.32M | 589.19M | 387.03M | 546.66M | 507.38M | |
Enterprise value | 663.32M | 749.59M | 510.77M | 716.65M | 657.27M | |
P/E ratio | -16.72 | 6.16 | -3.53 | 4.47 | -40.18 | |
Price to sales ratio | -17.5 | 6.08 | -3.57 | 4.43 | -40.66 | |
POCF ratio | 11.72 | 11.16 | 3.53 | 11.89 | 7.08 | |
PFCF ratio | 11.72 | 11.16 | 3.53 | 11.89 | 7.08 | |
P/B Ratio | 0.87 | 0.95 | 0.84 | 1.03 | 1.09 | |
PTB ratio | 0.87 | 0.95 | 0.84 | 1.03 | 1.09 | |
EV to sales | -23.06 | 7.74 | -4.71 | 5.81 | -52.67 | |
Enterprise value over EBITDA | -30.63 | 7.11 | -4.92 | 5.71 | -81.52 | |
EV to operating cash flow | 15.45 | 14.2 | 4.66 | 15.59 | 9.18 | |
EV to free cash flow | 15.45 | 14.2 | 4.66 | 15.59 | 9.18 | |
Earnings yield | -0.06 | 0.16 | -0.28 | 0.22 | -0.02 | |
Free cash flow yield | 0.09 | 0.09 | 0.28 | 0.08 | 0.14 | |
Debt to equity | 0.28 | 0.26 | 0.28 | 0.32 | 0.33 | |
Debt to assets | 0.19 | 0.18 | 0.19 | 0.23 | 0.23 | |
Net debt to EBITDA | -7.39 | 1.52 | -1.19 | 1.35 | -18.59 | |
Current ratio | 7.22 | 4.48 | 2.84 | 15.13 | 7.45 | |
Interest coverage | -2.57 | 10.73 | -17.72 | 37.33 | -1.77 | |
Income quality | -1.43 | 0.55 | -1 | 0.38 | -5.67 | |
Dividend Yield | 0.11 | 0.09 | 0.14 | 0.1 | 0.1 | |
Payout ratio | -1.76 | 0.56 | -0.48 | 0.43 | -4.09 | |
Sales general and administrative to revenue | -0.05 | 0.01 | -0.01 | 0.01 | -0.09 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 16.44 | 30.49 | 28.05 | 31.78 | 9.5 | |
ROIC | -0.03 | 0.13 | -0.18 | 0.18 | -0.01 | |
Return on tangible assets | -0.04 | 0.11 | -0.16 | 0.17 | -0.02 | |
Graham Net | -6.78 | -6.83 | -5.4 | -5.52 | -4.98 | |
Working capital | 2.39M | 2.66M | 6.68M | 1.25M | 5.08M | |
Tangible asset value | 579.46M | 621.96M | 459.2M | 529.15M | 464.93M | |
Net current asset value | -257.78M | -258.1M | -204.07M | -209.3M | -190.47M | |
Invested capital | 0.28 | 0.26 | 0.28 | 0.32 | 0.33 | |
Average receivables | 3.55M | 3.1M | 3.73M | 2.68M | 1.04M | |
Average payables | 5.39M | 574.44K | 2.2M | 1.86M | 437.95K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | -35.26 | 12.9 | -13.6 | 3.92 | -22.23 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | -10.35 | 28.3 | -26.83 | 93.05 | -16.42 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | -0.05 | 0.15 | -0.24 | 0.23 | -0.03 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2023-04-30 for Q1
Metric | History | 2022-04-30 | 2022-10-31 | 2022-10-31 | 2023-04-30 | 2023-04-30 |
---|---|---|---|---|---|---|
Revenue per share | 0 | 0 | 0 | 0 | 0 | |
Net income per share | 0 | 0 | 0 | 0 | 0 | |
Operating cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Free cash flow per share | 0 | 0 | 0 | 0 | 0 | |
Cash per share | 0 | 0 | 0 | 0 | 0 | |
Book value per share | 0 | 0 | 0 | 0 | 0 | |
Tangible book value per share | 0 | 0 | 0 | 0 | 0 | |
Share holders equity per share | 0 | 0 | 0 | 0 | 0 | |
Interest debt per share | 0 | 0 | 0 | 0 | 0 | |
Market cap | 0 | 0 | 0 | 0 | 0 | |
Enterprise value | 169.9M | 149.89M | 149.89M | 131.69M | 131.69M | |
P/E ratio | 0 | 0 | 0 | 0 | 0 | |
Price to sales ratio | 0 | 0 | 0 | 0 | 0 | |
POCF ratio | 0 | 0 | 0 | 0 | 0 | |
PFCF ratio | 0 | 0 | 0 | 0 | 0 | |
P/B Ratio | 0 | 0 | 0 | 0 | 0 | |
PTB ratio | 0 | 0 | 0 | 0 | 0 | |
EV to sales | 0 | 0 | 0 | 0 | 0 | |
Enterprise value over EBITDA | 0 | 0 | 0 | 0 | 0 | |
EV to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
EV to free cash flow | 0 | 0 | 0 | 0 | 0 | |
Earnings yield | 0 | 0 | 0 | 0 | 0 | |
Free cash flow yield | 0 | 0 | 0 | 0 | 0 | |
Debt to equity | 0.32 | 0.33 | 0.33 | 0.3 | 0.3 | |
Debt to assets | 0.23 | 0.23 | 0.23 | 0.21 | 0.21 | |
Net debt to EBITDA | 0 | 0 | 0 | 0 | 0 | |
Current ratio | 1.17 | 7.45 | 7.45 | 5.42 | 5.42 | |
Interest coverage | 0 | 0 | 0 | 0 | 0 | |
Income quality | 0 | 0 | 0 | 0 | 0 | |
Dividend Yield | 0 | 0 | 0 | 0 | 0 | |
Payout ratio | 0 | 0 | 0 | 0 | 0 | |
Sales general and administrative to revenue | 0 | 0 | 0 | 0 | 0 | |
Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
Capex to depreciation | 0 | 0 | 0 | 0 | 0 | |
Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
Graham number | 0 | 0 | 0 | 0 | 0 | |
ROIC | 0 | 0 | 0 | 0 | 0 | |
Return on tangible assets | 0 | 0 | 0 | 0 | 0 | |
Graham Net | 0 | 0 | 0 | 0 | 0 | |
Working capital | 1.43M | 5.08M | 5.08M | 3.94M | 3.94M | |
Tangible asset value | 535.36M | 464.93M | 464.93M | 457.13M | 457.13M | |
Net current asset value | -209.26M | -190.47M | -190.47M | -171.7M | -171.7M | |
Invested capital | 0.32 | 0.33 | 0.33 | 0.3 | 0.3 | |
Average receivables | 0 | 0 | 760.22K | 1.52M | 1.14M | |
Average payables | 0 | 0 | 787.6K | 891.14K | 839.37K | |
Average inventory | 0 | 0 | 0 | 0 | 0 | |
Days sales outstanding | 0 | 0 | 0 | 0 | 0 | |
Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
Receivables turnover | 0 | 0 | 0 | 0 | 0 | |
Payables turnover | 0 | 0 | 0 | 0 | 0 | |
Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
ROE | 0 | 0 | 0 | 0 | 0 | |
Capex per share | 0 | 0 | 0 | 0 | 0 |
DPG Frequently Asked Questions
What is Duff & Phelps Utility and Infrastructure Fund Inc. stock symbol ?
Duff & Phelps Utility and Infrastructure Fund Inc. is a US stock , located in Chicago of Il and trading under the symbol DPG
What is Duff & Phelps Utility and Infrastructure Fund Inc. stock quote today ?
Duff & Phelps Utility and Infrastructure Fund Inc. stock price is $8.595 today.
Is Duff & Phelps Utility and Infrastructure Fund Inc. stock public?
Yes, Duff & Phelps Utility and Infrastructure Fund Inc. is a publicly traded company.