Tortoise Energy Infrastructure Corporation (NYSE:TYG) Declares $0.47 Monthly Dividend

Tortoise Energy Infrastructure Corporation (NYSE:TYG) declared a monthly dividend on Thursday, August 20th. Stockholders of record on Wednesday, September 23rd will be paid a dividend of 0.475 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Wednesday, September 23rd.

Tortoise Energy Infrastructure Price Performance

Shares of Tortoise Energy Infrastructure stock opened at $44.77 on Friday. The business has a 50-day simple moving average of $43.22 and a 200-day simple moving average of $45.92. Tortoise Energy Infrastructure has a one year low of $40.35 and a one year high of $51.18.

Insider Transactions at Tortoise Energy Infrastructure

In other news, Director Conrad S. Ciccotello purchased 4,107 shares of the stock in a transaction on Thursday, June 25th. The stock was bought at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the acquisition, the director directly owned 16,225 shares of the company’s stock, valued at approximately $685,344. The trade was a 33.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in Tortoise Energy Infrastructure during the 1st quarter worth about $36,000. Parkside Financial Bank & Trust increased its holdings in shares of Tortoise Energy Infrastructure by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 300 shares during the last quarter. Comerica Bank raised its position in shares of Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 242 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth about $54,000. Finally, Rockefeller Capital Management L.P. lifted its stake in Tortoise Energy Infrastructure by 255.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.