Latest news with #TortoiseCapital
CNBC
3 days ago
- Business
- CNBC
How investors can play the nuclear energy supply chain
Rob Thummel, Tortoise Capital portfolio manager, joins 'Power Lunch' to discuss the supply chain for power and how investors can capitalize.
Yahoo
6 days ago
- Business
- Yahoo
Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of May 30, 2025, for TYG and TEAF
OVERLAND PARK, KS / / June 2, 2025 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of May 30, 2025, the company's unaudited total assets were approximately $969.2 million and its unaudited net asset value was $772.2 million, or $44.80 per share. As of May 30, 2025, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 679%, and its coverage ratio for preferred shares was 515%. For more information on the company's coverage ratios, please refer to the leverage summary web page at Set forth below is a summary of the company's preliminary unaudited balance sheet at May 30, 2025. Preliminary Unaudited balance sheet (in Millions) Per Share Investments $ 964.9 $ 55.98 Cash and Cash Equivalents 0.1 0.00 Current Tax Assets 0.4 0.03 Other Assets 3.8 0.22 Total Assets 969.2 56.23 Short-Term Borrowings 43.0 2.49 Senior Notes 98.1 5.69 Preferred Stock 44.9 2.61 Total Leverage 186.0 10.79 Other Liabilities 5.4 0.32 Deferred Tax Liability 5.6 0.32 Net Assets $ 772.2 $ 44.80 17.24 million common shares currently outstanding. Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) today announced that as of May 30, 2025 the company's unaudited total assets were approximately $209.2 million and its unaudited net asset value was $177.0 million, or $13.12 per share. As of May 30, 2025, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 664%. For more information on the company's coverage ratios, please refer to the leverage summary web page at Set forth below is a summary of the company's preliminary unaudited balance sheet at May 30, 2025. Preliminary Unaudited balance sheet (in Millions) Per Share Investments $ 207.6 $ 15.38 Cash and Cash Equivalents 0.6 0.05 Other Assets 1.0 0.08 Total Assets 209.2 15.51 Credit Facility Borrowings 31.4 2.33 Other Liabilities 0.8 0.06 Net Assets $ 177.0 $ 13.12 13.49 million common shares outstanding. The top 10 holdings for TYG and TEAF as of the most recent month-end can be found on each fund's portfolio web page at TEAF also provides update on direct investments. TEAF provides an update on the fund's direct investments on the company website at Details on each private deal that has taken place over the prior month will be published on the website at The list includes all deals completed since the fund's inception. About Tortoise Capital With approximately $8.8 billion in assets under management as of Apr. 30, 2025, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well- positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered fund manager that invests primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Energy Infrastructure Corp. and Tortoise Sustainable and Social Impact Term Fund. For additional information on these funds, please visit Cautionary Statement Regarding Forward-Looking Statements This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement. Safe harbor statement This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Media ContactsCraft & CapitalChris Sullivan chris@ Jesselson rob@ SOURCE: Tortoise Capital View the original press release on ACCESS Newswire
Yahoo
6 days ago
- Business
- Yahoo
Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of May 30, 2025, for TYG and TEAF
OVERLAND PARK, KS / / June 2, 2025 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG and TEAF. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of May 30, 2025, the company's unaudited total assets were approximately $969.2 million and its unaudited net asset value was $772.2 million, or $44.80 per share. As of May 30, 2025, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 679%, and its coverage ratio for preferred shares was 515%. For more information on the company's coverage ratios, please refer to the leverage summary web page at Set forth below is a summary of the company's preliminary unaudited balance sheet at May 30, 2025. Preliminary Unaudited balance sheet (in Millions) Per Share Investments $ 964.9 $ 55.98 Cash and Cash Equivalents 0.1 0.00 Current Tax Assets 0.4 0.03 Other Assets 3.8 0.22 Total Assets 969.2 56.23 Short-Term Borrowings 43.0 2.49 Senior Notes 98.1 5.69 Preferred Stock 44.9 2.61 Total Leverage 186.0 10.79 Other Liabilities 5.4 0.32 Deferred Tax Liability 5.6 0.32 Net Assets $ 772.2 $ 44.80 17.24 million common shares currently outstanding. Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) today announced that as of May 30, 2025 the company's unaudited total assets were approximately $209.2 million and its unaudited net asset value was $177.0 million, or $13.12 per share. As of May 30, 2025, the company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 664%. For more information on the company's coverage ratios, please refer to the leverage summary web page at Set forth below is a summary of the company's preliminary unaudited balance sheet at May 30, 2025. Preliminary Unaudited balance sheet (in Millions) Per Share Investments $ 207.6 $ 15.38 Cash and Cash Equivalents 0.6 0.05 Other Assets 1.0 0.08 Total Assets 209.2 15.51 Credit Facility Borrowings 31.4 2.33 Other Liabilities 0.8 0.06 Net Assets $ 177.0 $ 13.12 13.49 million common shares outstanding. The top 10 holdings for TYG and TEAF as of the most recent month-end can be found on each fund's portfolio web page at TEAF also provides update on direct investments. TEAF provides an update on the fund's direct investments on the company website at Details on each private deal that has taken place over the prior month will be published on the website at The list includes all deals completed since the fund's inception. About Tortoise Capital With approximately $8.8 billion in assets under management as of Apr. 30, 2025, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well- positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered fund manager that invests primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit Tortoise Capital Advisors, L.L.C. is the adviser to Tortoise Energy Infrastructure Corp. and Tortoise Sustainable and Social Impact Term Fund. For additional information on these funds, please visit Cautionary Statement Regarding Forward-Looking Statements This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement. Safe harbor statement This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Media ContactsCraft & CapitalChris Sullivan chris@ Jesselson rob@ SOURCE: Tortoise Capital View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Tortoise Announces Fund Reorganizations into Tortoise Capital Series Trust
OVERLAND PARK, KS / / May 12, 2025 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced a series of approved fund reorganizations designed to streamline operations and enhance flexibility for shareholders. As part of the reorganization: The Tortoise Energy Infrastructure Total Return Fund (TORIX, TORTX, TORCX) and the Tortoise North American Pipeline Fund (TPYP) have transitioned into the Tortoise Capital Series Trust. In conjunction with this transition, the Tortoise North American Pipeline Fund's investment advisor has changed from Tortoise Index Solutions, LLC to Tortoise Capital Advisors, L.L.C., aligning the fund with Tortoise Capital's broader investment platform. Exchange Traded Concepts, LLC is the fund's sub-advisor. The Tortoise Energy Infrastructure and Income Fund (INFIX, INFRX, INFFX) will also reorganize into the Tortoise Capital Series Trust and convert from a mutual fund to an actively managed exchange-traded fund (ETF). The following changes are expected to be completed in June 2025, subject to customary closing conditions. All existing share classes will consolidate into the institutional share class. The surviving share class will convert to an ETF with a new ticker symbol, TNGY. The fund will be renamed the Tortoise Energy Fund. "This reorganization is a strategic step in aligning our fund structures with the evolving needs of investors," said Tom Florence, CEO of Tortoise Capital. "By simplifying our platform and increasing efficiency, we're making it easier for clients to access the energy opportunities we believe in-and reinforcing our commitment to innovation, transparency, and long-term value." These changes mark an important milestone in our commitment to delivering investor value through thoughtful structure and strategy. Please visit for updates. About Tortoise Capital With approximately $9.6 billion in assets under management as of March 31, 2025, Tortoise Capital's record of investment experience and research dates back more than 20 years. As an early investor in midstream energy, Tortoise Capital believes it is well-positioned to be at the forefront of the global energy evolution that is under way. Based in Overland Park, Kansas, Tortoise Capital Advisors, L.L.C. is an SEC-registered investment adviser who manages funds that invest primarily in publicly traded companies in the energy and power infrastructure sectors-from production to transportation to distribution. For more information about Tortoise Capital, visit Cautionary Statement Regarding Forward-Looking Statements This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the funds and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the fund's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the funds and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement. Safe Harbor Statement This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Important Information This press release is for informational purposes only and is not a solicitation of a proxy from any fund shareholder and does not constitute an offer of any securities for sale. No offer of securities will be made except pursuant to a prospectus meeting the requirements of Section 10 of the Securities Act of 1933. Tortoise Capital Advisors, L.L.C. is the investment adviser to Tortoise Energy Infrastructure Total Return Fund, the Tortoise North American Pipeline Fund and the Tortoise Energy Infrastructure and Income Fund. Each fund's investment objective, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectus contains this and other important information about the fund and may be obtained by visiting Read it carefully before investing. Investing involves risk. Principal loss is possible. Mutual fund investing involves risk. Principal loss is possible. Shares of exchange-traded funds (ETFs) are not individually redeemable and owners of the shares may acquire those shares from the ETF and tender those shares for redemption to the ETF in Creation Units only, see the ETF prospectus for additional information regarding Creation Units. Investors may purchase or sell ETF shares throughout the day through any brokerage account, which will result in typical brokerage commissions. The funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. Therefore, the funds are more exposed to individual stock volatility than diversified funds. Investing in specific sectors such as North American energy or energy infrastructure and renewable energy infrastructure may involve greater risk and volatility than less concentrated investments. Risks include, but are not limited to, risks associated with energy investments, including upstream energy companies, midstream companies, downstream companies, energy company beneficiaries, MLPs, MLP affiliates, commodity price volatility, supply and demand, regulatory, environmental, operating, capital markets, terrorism, natural disaster and climate change risks. The tax benefits received by an investor investing in the funds differ from that of a direct investment in an MLP by an investor. The value of the funds' investments in an MLP will depend largely on the MLP's treatment as a partnership for U.S. federal income tax purposes. If the MLP is deemed to be a corporation then its income would be subject to federal taxation, reducing the amount of cash available for distribution to the funds which could result in a reduction of the funds' values. If for any taxable year the Fund fails to qualify as a RIC, the Fund's taxable income will be subject to federal income tax at regular corporate rates. The resulting increase to the Fund's expenses will reduce its performance and its income available for distribution to shareholders. Investments in foreign companies involve risk not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks related to political, social and economic developments abroad, differences between U.S. and foreign regulatory and accounting requirements, tax risk and market practices, as well as fluctuations in foreign currencies. These risks are greater for investments in emerging markets. The fund invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility than larger companies. The funds invest in large, small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility than larger companies. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. The funds may also write call options which may limit the funds' abilities to profit from increases in the market value of a security, but cause it to retain the risk of loss should the price of the security decline. Some funds may invest in other derivatives including options, futures and swap agreements, which can be highly volatile, illiquid and difficult to value, and changes in the value of a derivative held by the funds may not correlate with the underlying instrument or the fund's other investments and can include additional risks such as liquidity risk, leverage risk and counterparty risk that are possibly greater than risks associated with investing directly in the underlying investments. Some funds may engage in short sales and in doing so are subject to the risk that they may not always be able to borrow a security, or close out a short position at a particular time or at an acceptable price. The Tortoise Energy Infrastructure and Income Fund has filed a registration statement with the Securities and Exchange Commission but it is not yet effective. An investment in the fund cannot be made, nor money accepted, until the registration statement is effective. An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. A preliminary prospectus which contains this and other information about the fund may be obtained here: The information in the preliminary prospectus is not complete and may be changed. The final prospectus should be read carefully before investing, and when available may be obtained from the same source. This communication is not an offer to sell fund shares and is not soliciting an offer to buy fund shares in any state where the offer or sale is not permitted. Quasar Distributors, LLC, distributor. NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE Media Contacts: Craft & CapitalChris Sullivan chris@ Jesselson rob@ SOURCE: Tortoise Capital Advisors, L.L.C. View the original press release on ACCESS Newswire
Yahoo
16-04-2025
- Business
- Yahoo
Is ConocoPhillips (NYSE:COP) the Best Undervalued Energy Stock to Invest in Now?
We recently published a list of the 11 Best Undervalued Energy Stocks to Invest in Now. In this article, we are going to take a look at where ConocoPhillips (NYSE:COP) stands against other undervalued energy stocks. On March 18, Tortoise Capital senior portfolio manager Rob Thummel appeared on CNBC's 'Squawk on the Street' to discuss his outlook on the energy sector. He believes that natural gas is positioned to lead growth in the future within the energy sector. This natural gas demand is driven by electricity and energy exports. Thummel noted that the energy and tech sectors are converging due to advancements like AI and data centers. Electricity demand fuels natural gas consumption, while US energy exports help meet global needs for low-cost and low-carbon energy. He also highlighted that the US is now emerging as the largest exporter of LNG, even though it was an LNG importer just years ago. He anticipates that the US LNG exports will soon 2x in volume over time. Thummel also expects Europe and other countries to prioritize energy security and diversify their supply sources. This will ensure reliance on US energy exports. Thummel emphasized a focus on energy infrastructure companies while discussing his specific investment strategies as they tend to be stable and have high dividend yields even in uncertain market conditions. He thinks that the certainty provided by energy infrastructure investments in an otherwise volatile market should not be neglected. Such companies generate substantial annual cash flows while maintaining disciplined financial practices. Thummel thinks that the energy sector trades at a discount to historical valuations despite its fundamentals. This offers the potential for high returns. We used the Finviz stock screener to compile a list of the top energy stocks that had a forward P/E ratio under 15 as of April 10. We then selected the 11 stocks that were the most popular among elite hedge funds and that analysts were bullish on. The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q4 2024. The hedge fund data was sourced from Insider Monkey's database which tracks the moves of over 1000 elite money managers. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). An underground network of pipelines transporting oil through an expansive terrain. Forward P/E Ratio as of April 10: 10.98 Number of Hedge Fund Holders: 86 ConocoPhillips (NYSE:COP) explores, produces, transports, and markets crude oil, bitumen, natural gas, LNG, and natural gas liquids. Its segments include Alaska, Lower 48, Canada, Europe, Middle East & North Africa, Asia Pacific, and International. Its portfolio includes unconventional plays, conventional assets, global LNG developments, oil sands assets, and an inventory of global exploration prospects. The company's Lower 48 segment delivered a 5% production growth year-over-year for the full year 2024. This contributed to the company's overall 4% production growth. In Q4, the Lower 48 produced 1,308,000 barrels of oil equivalent per day. By basin, the production breakdown was 833,000 barrels in the Permian, 296,000 barrels in the Eagle Ford, and 151,000 barrels in the Bakken. The acquisition of Marathon in late November 2024 also enhanced the Lower 48 portfolio and added high-quality and low-cost supply inventory. ConocoPhillips (NYSE:COP) expects to achieve over $1 billion of run-rate synergies by the end of 2025. A substantial portion of this is already reflected in the capital guidance. The company also plans to reduce capital spending in the Lower 48 by ~$1.4 billion. Overall, COP ranks 2nd on our list of the best-undervalued energy stocks to invest in now. While we acknowledge the growth potential of COP, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than COP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
