Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $27.37 and last traded at $27.38, with a volume of 128,571 shares traded. The stock had previously closed at $27.63.

Separately, Stifel Nicolaus upgraded Tortoise Energy Infrastructure Corporation from a “hold” rating to a “buy” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call.

The stock has a 50-day moving average price of $29.56 and a 200-day moving average price of $32.07.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.655 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $2.62 annualized dividend and a yield of 9.65%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in Tortoise Energy Infrastructure Corporation by 0.3% in the second quarter. Private Advisor Group LLC now owns 8,141 shares of the financial services provider’s stock valued at $242,000 after buying an additional 23 shares during the last quarter. Hirtle Callaghan & Co LLC increased its position in Tortoise Energy Infrastructure Corporation by 2.0% in the first quarter. Hirtle Callaghan & Co LLC now owns 2,901 shares of the financial services provider’s stock valued at $101,000 after buying an additional 56 shares during the last quarter. Stephens Inc. AR increased its position in Tortoise Energy Infrastructure Corporation by 2.9% in the second quarter. Stephens Inc. AR now owns 26,531 shares of the financial services provider’s stock valued at $806,000 after buying an additional 749 shares during the last quarter. Geneva Advisors LLC increased its position in Tortoise Energy Infrastructure Corporation by 3.2% in the first quarter. Geneva Advisors LLC now owns 31,933 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Tortoise Energy Infrastructure Corporation by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 27,425 shares of the financial services provider’s stock valued at $833,000 after buying an additional 1,023 shares during the last quarter. Institutional investors own 30.45% of the company’s stock.

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Tortoise Energy Infrastructure Corporation Company Profile

Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.

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