Tortoise today announced the following unaudited balance sheet
information and asset coverage ratio updates for TYG, NTG, TTP,
NDP, TPZ and TEAF. Additionally, a recently published Q&A to
help investors understand closed-end funds and taxes is available
here.
Tortoise Energy Infrastructure Corp. (NYSE: TYG) today
announced that as of June 30, 2020, the company’s unaudited total
assets were approximately $467.0 million and its unaudited net
asset value was $296.4 million, or $22.23 per share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 454 percent, and its coverage ratio for preferred
shares was 337 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
372.5
$
27.94
Cash and Cash Equivalents
49.1
3.69
Receivable for Investments Sold
0.4
0.03
Deferred Tax Asset
42.3
3.17
Other Assets
2.7
0.20
Total Assets
467.0
35.03
Senior Notes
92.8
6.96
Preferred Stock
32.3
2.42
Total Leverage
125.1
9.38
Payable for Investments Purchased
0.4
0.03
Other Liabilities
2.2
0.17
Current Tax Liability
42.9
3.22
Net Assets
$
296.4
$
22.23
13.33 million common shares currently outstanding.
Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) today
announced that as of June 30, 2020, the company’s unaudited total
assets were approximately $226.2 million and its unaudited net
asset value was $146.0 million, or $23.10 per share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 515 percent, and its coverage ratio for preferred
shares was 387 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
206.7
$
32.70
Cash and Cash Equivalents
17.9
2.83
Receivable for Investments Sold
0.2
0.03
Other Assets
1.4
0.23
Total Assets
226.2
35.79
Senior Notes
38.2
6.04
Preferred Stock
12.7
2.01
Total Leverage
50.9
8.05
Payable for Investments Purchased
0.2
0.03
Other Liabilities
1.2
0.20
Current Tax Liability
27.9
4.41
Net Assets
$
146.0
$
23.10
6.32 million common shares currently outstanding.
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)
today announced that as of June 30, 2020, the company’s unaudited
total assets were approximately $72.1 million and its unaudited net
asset value was $47.1 million, or $18.81 per share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 389 percent, and its coverage ratio for preferred
shares was 292 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
62.8
$
25.06
Cash and Cash Equivalents
8.9
3.57
Other Assets
0.4
0.18
Total Assets
72.1
28.81
Senior Notes
18.4
7.35
Preferred Stock
6.1
2.44
Total Leverage
24.5
9.79
Other Liabilities
0.5
0.21
Net Assets
$
47.1
$
18.81
2.50 million common shares currently outstanding.
Tortoise Energy Independence Fund, Inc. (NYSE:
NDP) today announced that as of June 30, 2020, the company’s
unaudited total assets were approximately $33.0 million and its
unaudited net asset value was $28.6 million, or $15.50 per
share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 798 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
32.5
$
17.57
Cash and Cash Equivalents
0.4
0.23
Other Assets
0.1
0.06
Total Assets
33.0
17.86
Credit Facility Borrowings
4.1
2.22
Other Liabilities
0.3
0.14
Net Assets
$
28.6
$
15.50
1.85 million common shares currently outstanding.
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:
TPZ) today announced that as of June 30, 2020, the company’s
unaudited total assets were approximately $108.3 million and its
unaudited net asset value was $82.8 million, or $11.91 per
share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 432 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
106.5
$
15.32
Cash and Cash Equivalents
0.4
0.06
Other Assets
1.4
0.20
Total Assets
108.3
15.58
Credit Facility Borrowings
24.9
3.58
Other Liabilities
0.6
0.09
Net Assets
$
82.8
$
11.91
6.95 million common shares currently outstanding.
Tortoise Essential Assets Income Term Fund (NYSE: TEAF)
today announced that as of June 30, 2020, the company’s unaudited
total assets were approximately $236.4 million and its unaudited
net asset value was $198.8 million, or $14.73 per share.
As of June 30, 2020, the company’s asset coverage ratio under
the 1940 Act with respect to senior securities representing
indebtedness was 642 percent. For more information on the company’s
coverage ratios, please refer to the leverage summary web page at
https://cef.tortoiseadvisors.com.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2020.
Unaudited balance sheet
(in Millions)
Per Share
Investments
$
228.6
$
16.95
Cash and Cash Equivalents
2.8
0.21
Receivable for Investments Sold
2.3
0.17
Other Assets
2.7
0.20
Total Assets
236.4
17.53
Credit Facility Borrowings
36.7
2.72
Other Liabilities
0.9
0.08
Net Assets
$
198.8
$
14.73
13.49 million common shares outstanding.
The top 10 holdings for TYG, NTG, TTP, NDP, TPZ and TEAF as of
the most recent month-end can be found on each fund’s portfolio web
page at https://cef.tortoiseadvisors.com.
About Tortoise
Tortoise invests in essential assets – those assets and services
that are indispensable to the economy and society. With a steady
wins approach and a long-term perspective, Tortoise strives to make
a positive impact on clients and communities. For additional
information, please visit tortoiseadvisors.com.
Tortoise Capital Advisors, L.L.C. is the Adviser to Tortoise
Energy Infrastructure Corp., Tortoise Midstream Energy Fund, Inc.,
Tortoise Pipeline & Energy Fund, Inc., Tortoise Energy
Independence Fund, Inc., Tortoise Power and Energy Infrastructure
Fund, Inc. and Tortoise Essential Assets Income Term Fund. Tortoise
Advisors UK Limited is a subadvisor to Tortoise Essential Assets
Income Term Fund.
For additional information on these funds, please visit
cef.tortoiseadvisors.com.
Safe harbor statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the funds and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the fund’s reports that are filed with
the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Other than as required by law,
the funds and Tortoise Capital Advisors do not assume a duty to
update this forward-looking statement.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200701006017/en/
Maggie Zastrow (913) 981-1020 info@tortoiseadvisors.com
Tortoise Pipeline and En... (NYSE:TTP)
Historical Stock Chart
From May 2024 to Jun 2024
Tortoise Pipeline and En... (NYSE:TTP)
Historical Stock Chart
From Jun 2023 to Jun 2024