Tortoise Pipeline & Energy Fund, Inc.
(NYSE: TTP)
Company Overview
Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions. TTP intends to focus primarily in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil and refined products and to a lesser extent, on other energy infrastructure companies.TTP at a Glance [ top ]
| Description (as of 01/31/2012) | Detail |
|---|---|
| Total Assets | $336.4mm |
| Total Net Assets | $255.8mm |
| YTD Total Return (based on market value) (1) | 5.20% |
| Management Fee (2) | 1.10% |
| Turnover Rate | 1.68% |
| Cusip # | 89148H108 |
| Inception Date | 10/31/2011 |
Investment Policies [ top ]
- We may invest up to 30% of our total assets in unregistered or otherwise restricted securities, primarily through direct investments in securities of listed companies.
- Under normal circumstances, we will invest at least 80% of our total assets in equity securities of pipeline and other energy infrastructure companies.
- We may invest up to 25% of our total assets in securities of master limited partnerships (MLPs).
- We will not invest in privately held companies.
- We will also seek to provide current income from gains earned through an option strategy which will consist of writing (selling) covered call options on equity securities in our portfolio.
Top 10 Holdings [ top ]
| Holdings (as of 01/31/2012) | Ticker | % of Total Assets |
|---|---|---|
| Williams Companies, Inc. | WPZ | 8.0% |
| Spectra Energy Corp. | SE | 7.7% |
| Kinder Morgan Management, LLC | KMR | 5.1% |
| ONEOK, Inc. | OKS | 4.9% |
| NiSource, Inc. | NI | 4.9% |
| TransCanada Corp. | TRP | 4.7% |
| Enbridge Energy Management, LLC | EEQ | 4.7% |
| Centerpoint Energy, Inc. | CNP | 4.0% |
| Enbrige, Inc. | ENB | 2.8% |
| Plains All American Pipeline, L.P. | PAA | 2.8% |
| Top 10 Holdings as a % of Investment Securities | 49.6% | |
| Total Assets | $336.4mm | |
 Download Complete Portfolio Listing as of 11-30-2011 |
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Portfolio Allocation by Ownership Structure [ top ]
| Holdings (as of 11/30/2011) | % of Total Assets |
|---|---|
| Pipeline C-corps/LLCs | 56.0% |
| MLPs | 24.0% |
| Integrated/Independent Energy Companies | 20.0% |
Portfolio Allocation by Asset Type [ top ]
| Holdings (as of 11/30/2011) | % of Total Assets |
|---|---|
| Natural Gas Long Haul Pipelines | 42.0% |
| Crude/Refined Products Long Haul Pipelines | 23.0% |
| Integrated/Independent Energy | 20.0% |
| Local Distribution Pipelines | 10.0% |
| Gathering Pipelines | 5.0% |
Distribution at a Glance [ top ]
| Most Recent Distribution | Detail |
|---|---|
| Ex-Dividend Date | 2/17/12 |
| Record Date | 2/22/12 |
| Payable Date | 3/1/12 |
| Amount Per Share (3) | $0.40625 |
Footnotes [ top ]
- Not annualized. Source: Bloomberg. Assumes reinvestment of distributions. [ back ]
- The Adviser has agreed to a fee waiver of 0.25%, 0.20%, and 0.15% of average monthly Managed Assets for the first, second and third years following this offering, respectively. [ back ]
- This distribution is expected to consist of dividend income (a portion of which will be qualified dividend income) and return of capital for income tax purposes. The ultimate characterization will not be made until after our year-end, Nov. 30, 2012. [ back ]
Trademark Notice: Any trademarks, logos and service marks ("Marks") displayed on this Web Site are the property of Tortoise Capital Advisors, L.L.C. or other third parties. You are not permitted to use the Marks without prior written consent of Tortoise Capital Advisors or such third party which may own the Marks.
Past Performance: Past performance is no guarantee of future results. Total return and market value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only. Due to market volatility, current performance may be lower or higher than the figures shown.
Shares of closed-end funds frequently trade at a market price that is below their net asset value. Leverage creates risks which may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares; and fluctuations in distribution rates on any preferred shares.
This data is provided for information only and is not intended for trading purposes. Closed-end funds, unlike open-end funds, are not continuously offered. After the initial public offering, shares are sold on the open market through a stock exchange. You should consider the investment objective, risks, charges and expenses carefully before investing. For this and other important information, please refer to the most recent closed-end fund prospectus supplement and its accompanying prospectus and read it carefully before investing.
For additional information call Tortoise Capital Advisors, L.L.C., the fund adviser, at (866) 362-9331.