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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM Jennison MLP Fund

PRPQX | Fund

$7.95

$532 M

4.79%

$0.38

3.20%

Vitals

YTD Return

9.1%

1 yr return

24.9%

3 Yr Avg Return

20.2%

5 Yr Avg Return

8.5%

Net Assets

$532 M

Holdings in Top 10

82.9%

52 WEEK LOW AND HIGH

$7.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.20%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 42.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

PGIM Jennison MLP Fund

PRPQX | Fund

$7.95

$532 M

4.79%

$0.38

3.20%

PRPQX - Profile

Distributions

  • YTD Total Return 9.1%
  • 3 Yr Annualized Total Return 20.2%
  • 5 Yr Annualized Total Return 8.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.21%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    PGIM Jennison MLP Fund
  • Fund Family Name
    Prudential
  • Inception Date
    Jan 26, 2018
  • Shares Outstanding
    N/A
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Shaun Hong

Fund Description

The Fund seeks to provide total return through a combination of current income and capital appreciation. The Fund normally invests at least 80% of its investable assets in master limited partnerships (“MLPs”) and MLP related investments (together, “MLP investments”). The term “investable assets”refers to the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The Fund’s investments may be of any market capitalization.The Fund’s MLP investments may include, but are not limited to: MLPs structured as limited partnerships (“LPs”) or limited liability companies (“LLCs”); MLPs that are taxed as “C” corporations; institutional units (“I-Units”) issued by MLP affiliates; parent companies of MLPs; shares of companies owning MLP general partnership interests and other securities representing indirect beneficial interest ownership interests in MLP common units; “C” corporations that hold significant interests in MLPs; and other equity and fixed income securities and derivative instruments, including pooled investment vehicles including but not limited to exchange-traded funds and/or mutual funds and exchange-traded products (“ETPs”), that provide exposure to MLP investments or have economic characteristics similar to MLP investments. MLPs generally own and operate assets that are used in the energy sector, including assets used in exploring, developing, producing, generating, transporting (including marine), transmitting, terminal operation, storing, gathering, processing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined products, coal or electricity, or that provide energy related equipment or services.MLPs formed as LPs or LLCs are generally treated as partnerships for U.S. federal income tax purposes. MLPs are generally publicly traded, and as a result are subject to the Securities and Exchange Commission’s (“SEC”) rules and regulations and make public filings like any publicly traded corporation. The Fund may also invest in privately placed securities of publicly traded MLPs. The Fund is intended to provide access to a product that issues a single Form 1099 to its shareholders, thereby removing the obstacles of federal and state filings (because shareholders will not receive any Schedule K-1 and, for certain tax-exempt shareholders, unrelated business taxable income (“UBTI”) filings), while providing portfolio transparency, liquidity and daily net asset value.Many of the MLPs in which the Fund invests operate oil, gas or petroleum facilities, or other facilities within the energy sector. The Fund concentrates its investments in the energy sector.In deciding which stocks to buy, the subadviser relies on proprietary fundamental research, focused on the discovery of quality companies with predictable and sustainable cash flows. In narrowing the investment universe, the investment team compares prospective candidates’ competitive positioning, including strategically located assets; distribution coverage ratios; organic growth opportunities; expected dividend or distribution growth; the quality of the management team; balance sheet strength; and the support of the general partner. Valuation and the investment’s degree of liquidity factor into the portfolio managers’ decision calculus, as well.The team also monitors wider industry dynamics and interacts continually with the subadviser’s Natural Resources investment professionals to gain insights into emerging trends, such as the anticipation of an acceleration or reduction in production of particular oil and gas plays or a shift in regulatory or tax policy, which could affect potential or current positions.The Fund’s investments may include equity and equity-related securities, including common stocks; nonconvertible preferred stocks; convertible securities—like bonds, corporate notes and preferred stocks—that can convert into the company’s common stock, the cash value of common stock, or some other equity security; American Depositary Receipts (“ADRs”); American Depositary Shares (“ADSs”) and other similar securities; warrants and rights that can be exercised to obtain stocks; equity securities of real estate investment trusts (“REITs”); investments in various types of business ventures, including partnerships and joint ventures; and similar securities.The Fund is a regular corporation, or “C” corporation, for U.S. federal income tax purposes. Accordingly, unlike traditional open-end mutual funds, the Fund is subject to U.S. federal income tax on its taxable income at the rates applicable to corporations (currently a flat rate of 21%) as well as state and local income taxes.The Fund is “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means that it can invest a greater percentage of its assets in fewer issuers than a “diversified” fund.
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PRPQX - Performance

Return Ranking - Trailing

Period PRPQX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.1% 2.5% 16.0% 78.10%
1 Yr 24.9% 7.1% 49.6% 76.19%
3 Yr 20.2%* 5.7% 35.7% 70.30%
5 Yr 8.5%* -7.8% 33.2% 52.22%
10 Yr N/A* -6.0% 11.5% N/A

* Annualized

Return Ranking - Calendar

Period PRPQX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -14.9% 18.2% 68.22%
2022 13.7% -7.0% 29.9% 61.17%
2021 33.2% 4.2% 55.3% 27.18%
2020 -29.3% -57.4% 155.1% 33.33%
2019 7.7% -8.9% 20.8% 31.52%

Total Return Ranking - Trailing

Period PRPQX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.1% 2.5% 16.0% 78.10%
1 Yr 24.9% 7.1% 49.6% 76.19%
3 Yr 20.2%* 5.7% 35.7% 70.30%
5 Yr 8.5%* -7.8% 33.2% 52.22%
10 Yr N/A* -6.0% 11.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PRPQX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -9.3% 25.5% 78.50%
2022 20.4% -1.2% 38.8% 68.93%
2021 40.7% 11.1% 56.2% 29.13%
2020 -24.1% -53.9% 155.1% 33.33%
2019 15.3% -3.4% 34.1% 23.91%

NAV & Total Return History


PRPQX - Holdings

Concentration Analysis

PRPQX Category Low Category High PRPQX % Rank
Net Assets 532 M 22 M 53.1 B 47.37%
Number of Holdings 23 16 85 78.70%
Net Assets in Top 10 448 M 18.8 M 3.1 B 47.22%
Weighting of Top 10 82.93% 40.8% 111.7% 28.70%

Top 10 Holdings

  1. Energy Transfer LP 11.96%
  2. Targa Resources Corp 10.25%
  3. Plains GP Holdings LP 9.82%
  4. Enterprise Products Partners LP 9.73%
  5. MPLX LP 9.69%
  6. Cheniere Energy Inc 8.33%
  7. EnLink Midstream LLC 6.87%
  8. Williams Cos Inc/The 5.61%
  9. ONEOK Inc 5.51%
  10. Equitrans Midstream Corp 5.17%

Asset Allocation

Weighting Return Low Return High PRPQX % Rank
Stocks
106.60% 53.33% 133.88% 16.67%
Cash
1.47% 0.00% 13.09% 46.30%
Preferred Stocks
0.00% 0.00% 2.34% 80.56%
Other
0.00% -36.30% 5.12% 73.15%
Convertible Bonds
0.00% 0.00% 5.29% 78.70%
Bonds
0.00% 0.00% 40.73% 79.63%

Stock Sector Breakdown

Weighting Return Low Return High PRPQX % Rank
Energy
95.44% 53.73% 100.00% 50.00%
Utilities
2.82% 0.00% 41.78% 51.85%
Basic Materials
1.74% 0.00% 6.40% 16.67%
Technology
0.00% 0.00% 2.43% 84.26%
Real Estate
0.00% 0.00% 0.26% 78.70%
Industrials
0.00% 0.00% 4.54% 85.19%
Healthcare
0.00% 0.00% 0.00% 78.70%
Financial Services
0.00% 0.00% 0.66% 78.70%
Communication Services
0.00% 0.00% 0.00% 78.70%
Consumer Defense
0.00% 0.00% 0.82% 78.70%
Consumer Cyclical
0.00% 0.00% 1.07% 78.70%

Stock Geographic Breakdown

Weighting Return Low Return High PRPQX % Rank
US
106.60% 48.92% 132.40% 16.67%
Non US
0.00% 0.00% 26.09% 95.37%

PRPQX - Expenses

Operational Fees

PRPQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.20% 0.35% 8.56% 17.76%
Management Fee 1.00% 0.35% 1.38% 65.79%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

PRPQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PRPQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRPQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 42.00% 6.00% 166.00% 62.75%

PRPQX - Distributions

Dividend Yield Analysis

PRPQX Category Low Category High PRPQX % Rank
Dividend Yield 4.79% 0.00% 19.43% 49.12%

Dividend Distribution Analysis

PRPQX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

PRPQX Category Low Category High PRPQX % Rank
Net Income Ratio 0.21% -6.38% 9.57% 44.86%

Capital Gain Distribution Analysis

PRPQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PRPQX - Fund Manager Analysis

Managers

Shaun Hong


Start Date

Tenure

Tenure Rank

Dec 18, 2013

8.45

8.5%

Shaun Hong, CFA, is a Managing Director and an income and infrastructure portfolio manager. He joined Prudential (now PGIM) in 1999 as an analyst in Prudential's public equity unit responsible for the power, natural gas, and telecommunications industries, and in September 2000 when Prudential’s public equity asset management capabilities were transferred to Jennison, he joined Jennison. Mr. Hong began his career in 1992 as a research analyst covering telecommunications and technology companies at Parker/Hunter, a regional brokerage firm based in Pittsburgh, then joined Equinox Capital Management in 1994 where he covered the utility, consumer products, commodities, and technology sectors. He earned a BS in industrial management from Carnegie Mellon University and he holds the Chartered Financial Analyst (CFA) designation. Mr. Hong is a member of the New York Society of Security Analysts, Inc.

Ubong (Bobby) Edemeka


Start Date

Tenure

Tenure Rank

Dec 18, 2013

8.45

8.5%

Ubong "Bobby" Edemeka is a managing director and an income and infrastructure portfolio manager. He joined Jennison Associates in March 2002. Before joining Jennison, Mr. Edemeka was with Goldman Sachs as a sell-side research analyst on the US Power & Utilities team., for which he covered electric utilities and independent power producers. Prior to Goldman Sachs, he was an analyst on the global utilities team of SSB Citi Asset Management Group, a division of Citigroup. Bobby began his career as an analyst for the Prudential Utility Fund (now PGIM Jennison Utility Fund) in 1997 . He received a BA in government from Harvard University.

Stephen Maresca


Start Date

Tenure

Tenure Rank

Jul 15, 2016

5.88

5.9%

Stephen is a master limited partnership portfolio manager and an income and infrastructure research analyst. He joined Jennison in 2014. Prior to Jennison, Stephen spent six years with Morgan Stanley, where he was a managing director and equity research analyst covering MLPs and diversified natural gas. Before his tenure with Morgan Stanley, Stephen covered energy MLPs for UBS. Stephen began his financial services career in 1997 as a treasury funding analyst with PaineWebber. He received a BS in accounting from Providence College.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.81 12.18