Tortoise Energy Infrastructure Corporation to Issue Monthly Dividend of $0.47 (NYSE:TYG)

Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced a monthly dividend on Thursday, August 20th. Stockholders of record on Friday, October 23rd will be given a dividend of 0.475 per share by the financial services provider on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Friday, October 23rd.

Tortoise Energy Infrastructure Stock Up 0.4%

TYG opened at $44.77 on Friday. Tortoise Energy Infrastructure has a 12 month low of $40.35 and a 12 month high of $51.18. The company has a 50 day moving average of $43.22 and a 200 day moving average of $45.92.

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, Director Conrad S. Ciccotello acquired 4,107 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the purchase, the director owned 16,225 shares in the company, valued at $685,344. This trade represents a 33.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its stake in Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 242 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Tortoise Energy Infrastructure by 42.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after buying an additional 300 shares during the period. Cahill Financial Advisors Inc. lifted its stake in shares of Tortoise Energy Infrastructure by 1.6% in the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock valued at $864,000 after acquiring an additional 323 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Tortoise Energy Infrastructure by 5.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 355 shares during the period. Finally, Samalin Investment Counsel LLC boosted its holdings in Tortoise Energy Infrastructure by 2.8% during the 4th quarter. Samalin Investment Counsel LLC now owns 13,712 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 374 shares during the period. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

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.