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.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) reported its unaudited balance sheet as of May 31, 2022, showing total assets of approximately $264.2 million and a net asset value of $232.6 million, translating to $17.24 per share. The asset coverage ratio for senior securities was a robust 865%. Investments were valued at $261.2 million while cash and cash equivalents stood at $0.8 million. The fund has 13.49 million common shares outstanding. For further details, visit the fund's portfolio page.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) has announced a monthly distribution of $0.09 per share. Distributions are scheduled for June 30, July 29, and August 31, 2022, with record dates on June 23, July 22, and August 24, 2022. Approximately 90-100% of distributions are estimated to be ordinary income, with the remainder as a return of capital. Investors can register for a webinar on May 18, 2022 for updates on the fund's sustainable infrastructure assets.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released its unaudited balance sheet as of April 29, 2022, showing total assets of approximately $260.6 million and a net asset value of $232.1 million, equating to $17.21 per share. The fund's asset coverage ratio for senior securities was an impressive 941%. The balance sheet highlighted investments valued at $257.2 million, with 13.49 million common shares outstanding. Important additional details regarding holdings and financial metrics can be accessed via the fund’s portfolio webpage.
Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) released its unaudited financials as of March 31, 2022, reporting total assets of approximately $263.1 million and net asset value of $236.8 million, equating to $17.55 per share. The asset coverage ratio under the 1940 Act stood at an impressive 1,055%. The fund's investments accounted for $258.4 million with 13.49 million common shares outstanding. For detailed portfolio information, visit their official websites.
The Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) has released its unaudited balance sheet as of February 28, 2022, revealing total assets of approximately $255.6 million and a net asset value of $231.5 million, or $17.16 per share. The fund's asset coverage ratio stands at an impressive 1,111% related to senior securities representing indebtedness. It has 13.49 million common shares outstanding, with investments totaling $252.6 million and other assets of $3 million, including cash equivalents.
Ecofin Sustainable and Social Impact Term Fund (NYSE: TEAF) provided an update on its unaudited balance sheet as of January 31, 2022. The total assets are approximately
FAQ
What is the current stock price of Tortoise Sustainable and Social Impact Term Fund (TEAF)?
What is the market cap of Tortoise Sustainable and Social Impact Term Fund (TEAF)?
What is the primary goal of Ecofin Sustainable and Social Impact Term Fund (TEAF)?
What types of investments does TEAF focus on?
Who manages TEAF?
What recent achievements has TEAF announced?
What are the current projects TEAF is involved in?
How does TEAF aim to generate returns for its shareholders?
Is TEAF a diversified fund?
Where can I find more information about TEAF?
When will the tender offers announced in August 2023 commence?
What is TortoiseEcofin's expertise?
