Tortoise Energy Infrastructure Corporation (NYSE:TYG) Announces $0.48 Monthly Dividend

Key Points

• Tortoise Energy Infrastructure announced a monthly dividend of $0.475 per share (headline rounded to $0.48), representing an annualized yield of 11.7%; shareholders of record on March 24 will be paid on March 31 (ex-dividend date March 24).
• The stock opened at $48.93, with a 50-day/200-day moving average of $46.97/$44.13 and a 12-month trading range of $33.73–$51.18.
• Institutional investors own about 32.5% of the company, and several firms notably increased their Q4 stakes (e.g., Rockefeller and Thurston Springer made large percentage purchases).

Tortoise Energy Infrastructure Corporation (NYSE:TYG - Get Free Report) announced a monthly dividend on Friday, February 27th. Shareholders of record on Tuesday, March 24th will be given a dividend of 0.475 per share by the financial services provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 11.7%. The ex-dividend date is Tuesday, March 24th.

Tortoise Energy Infrastructure Stock Performance

NYSE TYG opened at $48.93 on Friday. The stock's 50 day moving average is $46.97 and its 200 day moving average is $44.13. Tortoise Energy Infrastructure has a twelve month low of $33.73 and a twelve month high of $51.18.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its holdings in shares of Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 300 shares during the last quarter. Comerica Bank boosted its position in shares of Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock worth $45,000 after purchasing an additional 242 shares in the last quarter. Hartford Financial Management Inc. grew its stake in shares of Tortoise Energy Infrastructure by 49.2% in the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider's stock worth $51,000 after buying an additional 410 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Tortoise Energy Infrastructure by 255.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider's stock worth $77,000 after buying an additional 1,360 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Tortoise Energy Infrastructure by 600.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider's stock valued at $86,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors 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.

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