Tortoise Energy Infrastructure 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 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 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 Capital released unaudited balance sheet information for two closed-end funds as of January 31, 2025. Tortoise Energy Infrastructure Corp. (TYG) reported total assets of $1.1 billion and net asset value of $847.3 million ($49.16 per share), with asset coverage ratios of 633% for senior securities and 499% for preferred shares.

Tortoise Sustainable and Social Impact Term Fund (TEAF) disclosed total assets of $221.5 million and net asset value of $189.5 million ($14.04 per share), with an asset coverage ratio of 702% for senior securities. The fund maintains $31.5 million in credit facility borrowings and has 13.49 million common shares outstanding.

Tortoise Capital released unaudited balance sheet information and asset coverage ratio updates for two closed-end funds as of December 31, 2024. Tortoise Energy Infrastructure Corp. (TYG) reported unaudited total assets of $992.7 million and net asset value of $800.6 million ($46.45 per share), with asset coverage ratios of 716% for senior securities indebtedness and 540% for preferred shares.

Tortoise Sustainable and Social Impact Term Fund (TEAF) disclosed unaudited total assets of $220.9 million and net asset value of $188.4 million ($13.96 per share), with an asset coverage ratio of 698% for senior securities indebtedness. TEAF continues to provide monthly updates on direct investments on their website, aiming for a target of 60% direct investments.

Tortoise Capital Advisors has completed the merger of Tortoise Midstream Energy Fund (NYSE:NTG) into Tortoise Energy Infrastructure Corp. (NYSE:TYG), with TYG continuing as the surviving fund. The combined entity has total assets under management of $1.0 billion as of December 20, 2024. TYG will maintain its original investment strategy focusing on energy infrastructure, midstream, power, and renewable assets, seeking high total returns with emphasis on current distributions.

Under the merger terms, TYG acquired all NTG's assets and liabilities, with NTG shares converting to newly issued TYG shares at an exchange ratio of 1.27056339, based on their respective net asset values as of December 20, 2024.