Tortoise Energy Infrastructure (NYSE:TYG) Hits New 12-Month High – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) hit a new 52-week high on Tuesday . The stock traded as high as $51.01 and last traded at $50.7740, with a volume of 83648 shares traded. The stock had previously closed at $49.79.

Tortoise Energy Infrastructure Stock Performance

The business’s 50 day simple moving average is $46.27 and its 200-day simple moving average is $43.92.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be given a dividend of $0.475 per share. The ex-dividend date is Friday, May 22nd. This represents a c) annualized dividend and a dividend yield of 11.2%.

Institutional Trading of Tortoise Energy Infrastructure

Large investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its stake in shares of Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Comerica Bank increased its stake in Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after buying an additional 242 shares during the period. Hartford Financial Management Inc. raised its position in shares of Tortoise Energy Infrastructure by 49.2% during the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock worth $51,000 after buying an additional 410 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Tortoise Energy Infrastructure by 255.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,360 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Tortoise Energy Infrastructure by 600.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 1,800 shares in the last quarter. 32.50% of the stock is currently owned by institutional investors and hedge funds.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.