OVERLAND PARK, KS / ACCESSWIRE / December 1, 2023 / Tortoise today announced the following preliminary unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ.
Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of November 30, 2023, the company's preliminary unaudited total assets were approximately $492.6 million and its preliminary unaudited net asset value was $380.3 million, or $35.33 per share.
As of November 30, 2023, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 677%, and its coverage ratio for preferred shares was 453%. For more information on the company's coverage ratios, please refer to the leverage summary web page at .
Set forth below is a summary of the company's preliminary unaudited balance sheet at November 30, 2023.
Preliminary unaudited balance sheet
(in Millions)
Per Share
Investments
$
490.8
$
45.59
Cash and Cash Equivalents
0.4
0.04
Other Assets
1.4
0.13
Total Assets
492.6
45.76
Short-Term Borrowings
7.3
0.68
Senior Notes
64.8
6.02
Preferred Stock
35.7
3.31
Total Leverage
107.8
10.01
Other Liabilities
2.4
0.22
Current Tax Liability
2.1
0.20
Net Assets
$
380.3
$
35.33
10.76 million common shares currently outstanding.
Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) today announced that as of November 30, 2023, the company's preliminary unaudited total assets were approximately $272.9 million and its preliminary unaudited net asset value was $217.0 million, or $42.62 per share.
As of November 30, 2023, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 680%, and its coverage ratio for preferred shares was 506%. For more information on the company's coverage ratios, please refer to the leverage summary web page at .
Set forth below is a summary of the company's preliminary unaudited balance sheet at November 30, 2023.
Preliminary unaudited balance sheet
(in Millions)
Per Share
Investments
$
268.0
$
52.63
Cash and Cash Equivalents
3.9
0.77
Other Assets
1.0
0.18
Total Assets
272.9
53.58
Short-Term Borrowings
10.6
2.08
Senior Notes
29.2
5.73
Preferred Stock
13.7
2.70
Total Leverage
53.5
10.51
Other Liability
1.1
0.20
Current Tax Liability
1.3
0.25
Net Assets
$
217.0
$
42.62
5.09 million common shares currently outstanding.
Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) today announced that as of November 30, 2023, the company's preliminary unaudited total assets were approximately $86.2 million and its preliminary unaudited net asset value was $69.6 million, or $34.60 per share.
As of November 30, 2023, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 869%, and its coverage ratio for preferred shares was 536%. For more information on the company's coverage ratios, please refer to the leverage summary web page at .
Set forth below is a summary of the company's preliminary unaudited balance sheet at November 30, 2023.
Preliminary unaudited balance sheet
(in Millions)
Per Share
Investments
$
85.2
$
42.37
Cash and Cash Equivalents
0.5
0.23
Receivable for Investments Sold
0.3
0.14
Other Assets
0.2
0.15
Total Assets
86.2
42.89
Short-Term Borrowings
5.9
2.94
Senior Notes
3.9
1.96
Preferred Stock
6.1
3.03
Total Leverage
15.9
7.93
Payable for Investments Purchased
0.3
0.14
Other Liabilities
0.4
0.22
Net Assets
$
69.6
$
34.60
2.01 million common shares currently outstanding.
Tortoise Energy Independence Fund, Inc.(NYSE:NDP) today announced that as of November 30, 2023, the company's preliminary unaudited total assets were approximately $68.2 million and its preliminary unaudited net asset value was $59.1 million, or $35.45 per share.
As of November 30, 2023, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 771%. For more information on the company's coverage ratios, please refer to the leverage summary web page at .
Set forth below is a summary of the company's preliminary unaudited balance sheet at November 30, 2023.
Preliminary unaudited balance sheet
(in Millions)
Per Share
Investments
$
67.6
$
40.57
Cash and Cash Equivalents
0.3
0.21
Other Assets
0.3
0.14
Total Assets
68.2
40.92
Credit Facility Borrowings
8.8
5.28
Other Liabilities
0.3
0.19
Net Assets
$
59.1
$
35.45
1.67 million common shares currently outstanding.
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) today announced that as of November 30, 2023, the company's preliminary unaudited total assets were approximately $120.8 million and its preliminary unaudited net asset value was $95.7 million, or $16.25 per share.
As of November 30, 2023, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 489%. For more information on the company's coverage ratios, please refer to the leverage summary web page at .
Set forth below is a summary of the company's preliminary unaudited balance sheet at November 30, 2023.
Preliminary unaudited balance sheet
(in Millions)
Per Share
Investments
$
119.2
$
20.24
Cash and Cash Equivalents
0.3
0.06
Other Assets
1.3
0.21
Total Assets
120.8
20.51
Credit Facility Borrowings
24.6
4.18
Other Liabilities
0.5
0.08
Net Assets
$
95.7
$
16.25
5.89 million common shares currently outstanding.
The top 10 holdings for TYG, NTG, TTP, NDP and TPZ as of the most recent month-end can be found on each fund's portfolio web page at .
About Tortoise
Tortoise focuses on energy & power infrastructure and the transition to cleaner energy. Tortoise's solid track record of energy value chain investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise believes it is well-positioned to be at the forefront of the global energy evolution that is underway. With a steady wins approach and a long-term perspective, Tortoise strives to make a positive impact on clients and communities. To learn more, please visit .
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. and Tortoise Power and Energy Infrastructure Fund, Inc.
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.
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.
Contact information For more information contact Eva Lipner at (913) 981-1020 or info@tortoiseecofin.com.
Tortoise Capital Advisors, L.L.C. 是 Tortoise Energy Infrastructure Corp.、Tortoise Pipeline & Energy Fund, Inc.、Tortoise Energy Infrastructure Corp.、Tortoise Pipeline & Energy Fund, Inc
本新聞稿包含某些聲明，其中可能包括1933年《證券法》第27A條和1934年《證券交易法》第21E條所指的 “前瞻性陳述”。除歷史事實陳述外，此處包含的所有陳述均爲 “前瞻性陳述”。儘管這些基金和Tortoise Capital Advisors認爲這些前瞻性陳述中反映的預期是合理的，但它們確實涉及假設、風險和不確定性，這些預期可能被證明是不正確的。由於多種因素，包括向美國證券交易委員會提交的基金報告中討論的因素，實際業績可能與這些前瞻性陳述中的預期存在重大差異。您不應過分依賴這些前瞻性陳述，這些陳述僅代表截至本新聞稿發佈之日。除法律要求外，基金和Tortoise Capital Advisors沒有義務更新本前瞻性陳述。
聯繫信息 欲了解更多信息，請致電 (913) 981-1020 或 info@tortoiseecofin.com 與 Eva Lipner 聯繫。
