LaSalle St. Investment Advisors LLC Acquires New Stake in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• LaSalle St. Investment Advisors acquired 24,545 shares of Tortoise Energy Infrastructure, valued at approximately $1.05 million, giving it a 0.10% stake. Institutional investors collectively own 32.5% of the company.
• Director Conrad S. Ciccotello purchased 4,107 shares at an average price of $42.24, increasing his holdings by 33.89%; corporate insiders own 0.09% of the stock.
• Tortoise Energy Infrastructure shares opened at $44.77 and recently announced a monthly dividend of $0.475 per share, representing a 12.7% annualized yield.

LaSalle St. Investment Advisors LLC acquired a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,545 shares of the financial services provider's stock, valued at approximately $1,052,000. LaSalle St. Investment Advisors LLC owned approximately 0.10% of Tortoise Energy Infrastructure as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of Tortoise Energy Infrastructure during the first quarter worth $36,000. Parkside Financial Bank & Trust lifted its stake in shares of Tortoise Energy Infrastructure by 42.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock worth $41,000 after buying an additional 300 shares in the last quarter. Comerica Bank lifted its stake in shares of Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock worth $45,000 after buying an additional 242 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position 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 acquiring an additional 1,360 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Tortoise Energy Infrastructure by 31.7% during the third quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider's stock worth $165,000 after acquiring an additional 921 shares during the last quarter. Hedge funds and other institutional investors own 32.50% of the company's stock.

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, Director Conrad S. Ciccotello purchased 4,107 shares of the company's stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the completion of the transaction, the director directly owned 16,225 shares of the company's stock, valued at approximately $685,344. This trade represents a 33.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Tortoise Energy Infrastructure Stock Up 0.4%

Shares of NYSE TYG opened at $44.77 on Friday. Tortoise Energy Infrastructure Corporation has a 12-month low of $40.35 and a 12-month high of $51.18. The company has a 50-day moving average of $43.22 and a 200 day moving average of $45.92.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.475 per share. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Monday, November 23rd.

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.

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