Tortoise Reports Strong Balance Sheet and Asset Coverage Ratios for Energy Infrastructure Funds

Tortoise, a leading energy and power infrastructure investment firm, has released unaudited balance sheet information and asset coverage ratio updates for several of its funds. The company’s commitment to clean energy and its extensive experience in the energy value chain have positioned it at the forefront of the global energy evolution.

Tortoise Energy Infrastructure Corp (TYG) reported unaudited total assets of approximately $554.1 million as of June 28, 2024, with a net asset value of $436.8 million, or $40.58 per share. The company’s asset coverage ratio for senior securities representing indebtedness stood at an impressive 693%, while the coverage ratio for preferred shares reached 479%.

Tortoise Midstream Energy Fund (NTG) showcased unaudited total assets of around $311.8 million, with a net asset value of $254.5 million, or $49.96 per share. The fund’s asset coverage ratio for senior securities representing indebtedness was 732%, and the coverage ratio for preferred shares stood at 553%.

Tortoise Pipeline & Energy Fund (TTP) reported unaudited total assets of approximately $99.0 million, with a net asset value of $81.7 million, or $40.62 per share. The fund’s asset coverage ratio for senior securities representing indebtedness was an impressive 925%, while the coverage ratio for preferred shares reached 588%.

Tortoise Energy Independence Fund (NDP) showcased unaudited total assets of around $77.1 million, with a net asset value of $66.5 million, or $39.92 per share. The fund’s asset coverage ratio for senior securities representing indebtedness was 752%.

Tortoise Power and Energy Infrastructure Fund (TPZ) reported unaudited total assets of approximately $128.8 million, with a net asset value of $106.7 million, or $18.12 per share. The fund’s asset coverage ratio for senior securities representing indebtedness stood at 594%.

These impressive balance sheets and asset coverage ratios demonstrate Tortoise’s commitment to maintaining a strong financial position and providing value to its investors. The company’s focus on energy and power infrastructure, as well as its dedication to the transition to cleaner energy sources, has positioned it as a leader in the industry.

Tortoise Capital Advisors, L.L.C., the adviser to these funds, has a solid track record of energy value chain investment experience and research spanning over 20 years. The company’s long-term perspective and steady wins approach aim to make a positive impact on clients and communities.

For more information on the funds’ coverage ratios and portfolio holdings, interested individuals can visit the Tortoise Advisors website. The top 10 holdings for each fund can be found on their respective portfolio web pages.

Tortoise’s commitment to clean energy and its strong financial performance make it an attractive investment option for those interested in the energy and power infrastructure sector. With its extensive experience and focus on the global energy evolution, Tortoise continues to be a trusted partner in the industry.

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