Tortoise Capital Unveils Unaudited Balance Sheets and Asset Coverage Ratios

Overland Park, Kan. – November 1, 2024 – Tortoise Capital has announced unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG, NTG, TTP, NDP, TPZ, and TEAF as of October 31, 2024. These updates provide insight into the funds' financial health and leverage positions.

Tortoise Energy Infrastructure Corp. (NYSE:TYG) reported unaudited total assets of approximately $615.4 million and an unaudited net asset value of $492.6 million, or $45.76 per share. The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 718%, and its coverage ratio for preferred shares was 507%. This indicates a strong financial position and ample liquidity.

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) had unaudited total assets of approximately $349.9 million and an unaudited net asset value of $290.4 million, or $57.01 per share. The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 776%, and its coverage ratio for preferred shares was 594%. These solid coverage ratios reflect NTG's ability to meet its financial obligations.

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) reported unaudited total assets of approximately $109.5 million and an unaudited net asset value of $92.1 million, or $45.83 per share. The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 998%, and its coverage ratio for preferred shares was 641%. These high coverage ratios suggest a robust financial position and a conservative approach to leverage.

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) had unaudited total assets of approximately $78.5 million and an unaudited net asset value of $67.4 million, or $40.48 per share. The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 719%. This strong coverage ratio reflects NDP's ability to manage its leverage effectively.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) reported unaudited total assets of approximately $138.8 million and an unaudited net asset value of $112.8 million, or $19.16 per share. The company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 539%. While this ratio is lower than those of the other funds, it still indicates a reasonably strong financial position.

These unaudited balance sheet information and asset coverage ratio updates provide valuable insights into the financial health and leverage positions of Tortoise Capital's closed-end funds. Investors can use this information to make informed decisions about their investments and to monitor the funds' ongoing performance. As the funds continue to evolve, their financial positions will be closely watched by investors and market participants.