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Tortoise Sustainable and Social Impact Term Fund - TEAF STOCK NEWS

Welcome to our dedicated page for Tortoise Sustainable and Social Impact Term Fund news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact Term Fund stock.

Ecofin Sustainable and Social Impact Term Fund (TEAF), managed by TortoiseEcofin, is a U.S.-based, non-diversified, closed-end management investment company. Its primary goal is to offer shareholders a high level of total return, with a strong focus on current distributions. TortoiseEcofin specializes in essential assets and income, investing in the infrastructure that supports society's essential needs, from traditional energy to sustainable solutions.

Core Business
TEAF invests in a wide range of essential assets and services. The fund’s portfolio includes investments across the energy value chain, sustainable infrastructure (such as wind, solar, and water infrastructure), and credit investments. These investments are designed to meet core societal needs and provide diversification and steady income for investors.

Recent Achievements
In August 2023, Tortoise and the Board announced conditional tender offers as part of their discount management program. This involved tendering 5% of the fund's outstanding shares at 98% of the net asset value (NAV) due to the shares trading at a significant discount. This tender offer is expected to commence in October 2023. Further, TortoiseEcofin announced regular quarterly rebalancing of its indices in September 2023, which included notable changes to several of its indices.

Current Projects
TEAF is actively engaged in sustainable and social impact projects, including direct lending to social infrastructure projects. These investments support education, senior living, and the transition to cleaner energy, thereby addressing crucial needs in our communities.

Financial Condition
TEAF aims to offer a high level of total return with an emphasis on current distributions. The fund is committed to managing its portfolio effectively to balance risk and return, with a focus on generating income for its shareholders.

Partnerships
The fund benefits from TortoiseEcofin’s extensive expertise in energy and infrastructure investments. TortoiseEcofin has over 20 years of experience in the energy sector and is well-positioned to lead in the global energy transition.

Products and Services
TEAF provides a variety of investment vehicles aimed at meeting the evolving needs of its clients, including traditional energy investments, sustainable infrastructure projects, and social impact financing. The fund's diversified portfolio is designed to deliver steady income and growth opportunities.

For more information, visit the TortoiseEcofin website at www.tortoiseecofin.com.

Latest News
- August 11, 2023: Announcement of conditional tender offers.
- September 8, 2023: Updates on quarterly index rebalancing.
- February 16, 2024: Release of corrected Tortoise Energy Infrastructure Total Return Fund 2023 annual report.

News

Tortoise Power and Energy Infrastructure Fund, Inc. Provides Section 19(a) Notice

Rhea-AI Summary
Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) announced the distribution paid on January 31, 2024, and cumulative distribution paid fiscal year-to-date. The current distribution breakdown includes net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. The return of capital accounted for 72% of the total distribution. The average annual total return for the 5 years ending on 12/31/2023 was 5.78%. The annualized current distribution rate as a percentage of NAV was 7.72% as of 12/31/2023.
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TEAF Announces 2023 Fund Tax Characterization of Distributions, Release of Annual Report

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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) announced the tax characterization of 2023 distributions paid to its common stockholders. The 2023 distributions were characterized as 31% qualified dividend income, 2% as ordinary income, and 67% return of capital. The adviser also released the 2023 annual stockholders' report. The fund's adviser and sub-adviser were mentioned, and a safe harbor statement was included.
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TEAF Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of December 29, 2023

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Ecofin Sustainable and Social Impact Term Fund (TEAF) provides unaudited balance sheet information and asset coverage ratio update. As of December 29, 2023, the company's unaudited total assets were approximately $231.0 million and its unaudited net asset value was $202.5 million, or $15.01 per share. The asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 879%. The fund has 113.49 million common shares outstanding and provides updates on direct investments on its website.
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Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) Declares Monthly Distribution

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Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declares a monthly distribution of $0.105 per share, payable on December 29, 2023, to shareholders of record on December 22, 2023.
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TEAF Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of November 30, 2023

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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) provided preliminary unaudited balance sheet information with total assets of approximately $225.0 million and net asset value of $200.2 million, or $14.84 per share as of November 30, 2023. The company's asset coverage ratio under the 1940 Act was 934%.
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TortoiseEcofin Announces Constituent Changes Due to Corporate Action

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TortoiseEcofin announces the removal of Holly Energy Partners LP (HEP) from the Tortoise MLP Index® (TMLP) and the Tortoise North American Pipeline IndexSM (TNAP) due to the approved acquisition by HF Sinclair Corp (DINO). HEP will be removed from the indices at market open on Friday, December 1, 2023, with a special rebalancing in TMLP triggered by the acquisition.
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Ecofin Sustainable and Social Impact Term Fund (TEAF) Announces its Upcoming Monthly Distributions

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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) announces a monthly distribution of $0.09 per share, falling within the managed distribution target range of 6-8% of the Fund's trailing average NAV. The upcoming distribution dates are December 29, 2023, January 31, 2024, and February 29, 2024. The source of distributions for TEAF is estimated to be approximately 30 to 40% ordinary income, with the remainder as return of capital.
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Ecofin Releases Quarterly Commentary Piece

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Ecofin releases the Ecofin Tax-Advantaged Social Impact Fund (NASDAQ:TSIFX) quarterly commentary, featuring deal transactions, market update, and outlook.
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TortoiseEcofin Announces Constituent Changes Due to Corporate Action

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Denbury Inc. (NYSE:DEN) will be removed from the Tortoise Recycling Decarbonization IndexSM (RCYCL) and the Tortoise Recycling Decarbonization UCITSSM Index (RECYCLE) due to its approved acquisition by Exxon Mobil Corp (NYSE:XOM). The removal will take place at market open on Friday, November 3, 2023. The indices will not require special rebalancing and the weight of DEN will be distributed proportionally to the remaining constituents.
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TEAF Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of October 31, 2023

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Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) has reported unaudited total assets of approximately $227.8 million and a net asset value of $197.4 million, or $14.63 per share, as of October 31, 2023. The company's asset coverage ratio for senior securities representing indebtedness is 793%. The fund also provides updates on its direct investments.
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FAQ

What is the current stock price of Tortoise Sustainable and Social Impact Term Fund (TEAF)?

The current stock price of Tortoise Sustainable and Social Impact Term Fund (TEAF) is $12.37 as of January 23, 2025.

What is the market cap of Tortoise Sustainable and Social Impact Term Fund (TEAF)?

The market cap of Tortoise Sustainable and Social Impact Term Fund (TEAF) is approximately 165.9M.

What is the primary goal of Ecofin Sustainable and Social Impact Term Fund (TEAF)?

The primary goal of TEAF is to provide shareholders with a high level of total return, with an emphasis on current distributions.

What types of investments does TEAF focus on?

TEAF focuses on essential assets and services, including traditional energy infrastructure, sustainable infrastructure like wind and solar, and social impact projects such as education and senior living.

Who manages TEAF?

TEAF is managed by TortoiseEcofin, a company with extensive expertise in energy and infrastructure investing.

What recent achievements has TEAF announced?

Recent achievements include the announcement of conditional tender offers in August 2023 and updates on quarterly index rebalancing in September 2023.

What are the current projects TEAF is involved in?

TEAF is involved in sustainable and social impact projects, including direct lending to social infrastructure projects that support education and senior living.

How does TEAF aim to generate returns for its shareholders?

TEAF aims to generate returns through a diversified portfolio of investments in essential assets and services, focusing on both income and growth opportunities.

Is TEAF a diversified fund?

No, TEAF is a non-diversified, closed-end management investment company.

Where can I find more information about TEAF?

More information can be found on the TortoiseEcofin website at www.tortoiseecofin.com.

When will the tender offers announced in August 2023 commence?

The tender offers are expected to commence on or around October 2, 2023.

What is TortoiseEcofin's expertise?

TortoiseEcofin has over 20 years of experience in energy and infrastructure investing, focusing on traditional energy, sustainable infrastructure, and social impact projects.
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Tortoise Sustainable and Social Impact Term Fund

NYSE:TEAF

TEAF Rankings

#4052 Ranked by Market Cap
#260 Ranked by Dividends

TEAF Stock Data

165.94M
13.49M
0.14%
35.23%
0.01%
Asset Management
Financial Services
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United States of America
Overland Park