Welcome to our dedicated page for Tortoise Power and Energy Infrastructure Fund news (Ticker: TPZ), a resource for investors and traders seeking the latest updates and insights on Tortoise Power and Energy Infrastructure Fund stock.
Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) is a closed-ended fund that focuses on investing in a diverse portfolio of fixed income and equity securities issued by power and energy infrastructure companies. The primary objective of TPZ is to provide a high level of current income, while its secondary goal is capital appreciation. The fund is managed by Tortoise, a firm renowned for its specialization in essential assets and income.
Tortoise boasts a broad expertise that spans traditional energy investing across the entire energy value chain, sustainable infrastructure such as wind, solar, and water, as well as credit investing and direct lending to social infrastructure projects. Furthermore, Tortoise excels in index construction, offering a variety of investment vehicles tailored to meet the evolving needs of its clients. This includes diversification and income, making Tortoise a beneficial partner for investors seeking stable returns.
Among its latest news, Tortoise announced on March 8, 2024, the upcoming quarterly rebalancing of its indices, set to take effect on March 15, 2024. Changes will be implemented following their stated methodologies. Full constituent lists for each index from the previous quarter can be found on the Tortoise website.
Tortoise's indices, including the Tortoise MLP Index®, the Tortoise North American Pipeline IndexSM, and the Ecofin Global Water ESG IndexSM, are actively researched to fill gaps in the essential asset universe. These indices provide a platform for passively managed exchange-traded products, reflecting the company’s commitment to sustainable and reliable investment solutions.
For more information, please visit www.tortoiseadvisors.com.
The Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) announced a distribution payment on July 29, 2022, totaling $0.1050 per common share.
This distribution is comprised of net investment income (19%), return of capital (81%), and no capital gains. Cumulative distributions for the fiscal year to date reached $0.7500 per share.
The fund's average annual total return over five years is -1.61%, while its current distribution rate is 8.79% of NAV.
Investors should note that a portion of the distribution may constitute a return of capital.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) announced its distribution amounting to $0.1050 per share, paid on June 30, 2022. This distribution comprises net investment income (19%), return of capital (81%), and no capital gains. Fiscal year-to-date, total cumulative distributions stand at $0.6450 per share, with 24% from net investment income and 76% from return of capital. Caution is advised as a portion of the distribution may return capital, not reflective of performance. Tortoise emphasizes that actual amounts for tax reporting may vary.
Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced their distributions for May 31, 2022. TTP's current distribution is $0.5900 per share, consisting of 8% net investment income and a 92% return of capital. Cumulatively, TTP has paid $1.1800 this fiscal year, with 10% from investment income.
For TPZ, the current distribution is $0.1050 per share, with 21% from net investment income and 79% as a return of capital, totaling $0.5400 cumulatively this fiscal year.
Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) announced a distribution of $0.1050 per share on April 29, 2022. The current distribution comprises 20% from net investment income, and 80% from return of capital. Cumulative distributions for the fiscal year to date total $0.4350 per share, with 24% from net investment income and 76% from return of capital. The fund has an annualized current distribution rate of 7.68% as of March 31, 2022. It is estimated that TPZ has distributed more than its income and realized gains, indicating a portion as a return of capital.
Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) provided an update regarding its distribution paid on March 31, 2022, totaling $0.1050 per common share. The distribution sources included net investment income (20%), return of capital (80%), and no realized capital gains. For the fiscal year to date, cumulative distributions reached $0.3300, with 25% from net investment income and 75% from return of capital. The report cautioned that these distributions do not reflect overall investment performance.
This press release informs stockholders of Tortoise Pipeline & Energy Fund (TTP) and Tortoise Power and Energy Infrastructure Fund (TPZ) about their distributions paid on February 28, 2022. TTP pays a total distribution of $0.5900 per share, with 21% from net investment income and 79% as a return of capital. TPZ pays a total distribution of $0.1050 per share, with 28% from net investment income and 72% as a return of capital. Cumulative total returns for the fiscal year were 12.02% for TTP and 5.98% for TPZ. Distributions may not reflect the funds' investment performance.
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