Tortoise Sustainable and Social Impact Stock Price, News & Analysis

Tortoise Capital has declared monthly distributions for its closed-end funds. The Tortoise Energy Infrastructure Corp. (TYG) will distribute $0.365 monthly, while the Tortoise Sustainable and Social Impact Term Fund (TEAF) will distribute $0.090 monthly.

The distributions will be payable on June 30, July 31, and August 29, 2025, to shareholders of record on June 23, July 24, and August 22, 2025, respectively. For book purposes, the source of distributions is estimated to be 0-10% ordinary income, with the remainder as return of capital.

Tortoise Capital Advisors announced key fund reorganizations to streamline operations and enhance shareholder flexibility. The reorganization includes:

- Tortoise Energy Infrastructure Total Return Fund (TORIX, TORTX, TORCX) and Tortoise North American Pipeline Fund (TPYP) have moved to the Tortoise Capital Series Trust

- Tortoise Energy Infrastructure and Income Fund will reorganize into the Trust and convert from a mutual fund to an actively managed ETF (expected June 2025). The fund will consolidate all share classes into the institutional class, convert to an ETF under ticker TNGY, and be renamed to Tortoise Energy Fund

Additionally, Tortoise North American Pipeline Fund's investment advisor has changed from Tortoise Index Solutions to Tortoise Capital Advisors, with Exchange Traded Concepts as sub-advisor.

Tortoise Capital Advisors, an energy-focused fund manager, announced two strategic senior hires to strengthen its distribution leadership and accelerate institutional and wealth management strategy. Rob Bernstein joins as Head of Institutional Business Development, bringing 30+ years of experience in institutional investing. Previously President at BennBridge US , Bernstein has extensive experience with pensions, endowments, foundations, and OCIOs.

Carter Sims joins as Senior Vice President, Financial Institutions Group, with 35+ years of senior leadership experience. Previously Principal at Third Street Partners and Head of Global Distribution at Thornburg Investment Management, Sims will focus on expanding presence across RIA aggregators, TAMPs, and Bank-Trust platforms.

These appointments align with Tortoise's transformation into a modern, insights-driven investment partner, featuring a restructured distribution team, investment specialist coverage pods, and a data-informed client engagement model.

Tortoise Capital has released unaudited balance sheet information for its closed-end funds as of March 31, 2025. Tortoise Energy Infrastructure Corp. (NYSE:TYG) reported unaudited total assets of $1.0 billion and a net asset value of $822.4 million ($47.72 per share). The company's asset coverage ratios were 612% for senior securities indebtedness and 484% for preferred shares.

Key balance sheet figures for TYG include:

• Investments: $1,044.1 million ($60.58 per share)
• Total leverage: $214.3 million ($12.44 per share)
• Outstanding common shares: 17.24 million

Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) reported unaudited total assets of $214.2 million and a net asset value of $179.8 million ($13.33 per share), with an asset coverage ratio of 638% for senior securities indebtedness.

Tortoise Capital has announced strategic actions following the completion of TEAF's strategic review. The fund is executing significant portfolio changes to enhance shareholder value:

- Engaged Lucid Capital Markets to sell private credit and social infrastructure assets (29% of portfolio, $55.9 million), expected to close around March 20th

- Partnered with Marathon Capital to divest majority of private renewables portfolio, with closing anticipated in Q2 2025

- Proceeds will be reinvested in listed energy infrastructure holdings, while sustainable infrastructure holdings remain unchanged

These changes aim to reduce the discount to net asset value and align with Tortoise Capital's core expertise in managing public energy securities portfolios.

Tortoise Capital announced unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF as of February 28, 2025. Tortoise Energy Infrastructure Corp. (NYSE:TYG) reported unaudited total assets of approximately $1.1 billion and a net asset value of $836.1 million, or $48.51 per share. The company's asset coverage ratio for senior securities representing indebtedness was 629%, and for preferred shares, it was 495%.

Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) reported unaudited total assets of approximately $220.8 million and a net asset value of $187.3 million, or $13.88 per share. The asset coverage ratio for senior securities representing indebtedness was 671%. TYG has 17.24 million common shares outstanding, while TEAF has 13.49 million common shares outstanding. Detailed information on top 10 holdings and direct investments for both funds is available on the company's website.

Tortoise Capital has announced distribution schedules for its closed-end funds, specifically for Tortoise Energy Infrastructure Corp. (NYSE:TYG) and Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF). The monthly distributions will be paid on March 31, April 30, and May 30, 2025, to shareholders of record on March 24, April 23, and May 23, 2025, respectively. The company estimates that for book purposes, the source of distributions for both funds will comprise approximately 0-10% ordinary income, with the remainder classified as return of capital.

Tortoise Sustainable and Social Impact Term Fund (TEAF) has released its fourth quarter 2024 commentary, which details the fund's performance across its public and direct investments in essential asset sectors. The commentary is now accessible on the company's website at cef.tortoiseadvisors.com.

The fund is managed by Tortoise Capital Advisors as the adviser, with RWC Asset Management LLP serving as the sub-adviser. The press release includes standard cautionary statements regarding forward-looking statements and safe harbor provisions, noting that actual results may differ from anticipated outcomes due to various factors.