Tortoise Pipeline & Energy Fund, Inc. (TTP) To Go Ex-Dividend on May 23rd

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP – Get Rating) declared a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Investors of record on Tuesday, May 24th will be paid a dividend of 0.59 per share by the investment management company on Tuesday, May 31st. This represents a $2.36 annualized dividend and a yield of 8.21%. The ex-dividend date of this dividend is Monday, May 23rd.

Tortoise Pipeline & Energy Fund has decreased its dividend payment by an average of 45.4% per year over the last three years and has increased its dividend annually for the last 2 consecutive years.

Shares of TTP stock opened at $28.73 on Friday. The stock has a fifty day moving average price of $28.59 and a 200 day moving average price of $26.16. Tortoise Pipeline & Energy Fund has a 1 year low of $21.12 and a 1 year high of $31.17.

Hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its holdings in Tortoise Pipeline & Energy Fund by 1.7% during the second quarter. Morgan Stanley now owns 38,959 shares of the investment management company’s stock worth $932,000 after purchasing an additional 669 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter worth $341,000. Bank of America Corp DE raised its holdings in shares of Tortoise Pipeline & Energy Fund by 21.5% in the fourth quarter. Bank of America Corp DE now owns 10,775 shares of the investment management company’s stock worth $246,000 after acquiring an additional 1,905 shares during the last quarter. D.A. Davidson & CO. acquired a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter worth $203,000. Finally, UBS Group AG raised its holdings in shares of Tortoise Pipeline & Energy Fund by 16.9% in the third quarter. UBS Group AG now owns 4,254 shares of the investment management company’s stock worth $102,000 after acquiring an additional 614 shares during the last quarter.

About Tortoise Pipeline & Energy Fund (Get Rating)

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.

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